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Directed Search with Phantom Vacancies

Author

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  • Susan Vroman

    (Georgetown University)

Abstract

Information persistence about already filled vacancies implies that old vacancies are likely to be obsolete or phantom vacancies. When ads for jobs stipulate the vacancy creation date, job-seekers apply for the different jobs so as to equalize matching odds across vacancy age. This search behavior leads them to over-apply to young vacancies. Finding a job of a given age creates phantom vacancy and a negative informational externality that affects all cohorts of vacancies after this age. Thus the magnitude of the externality decreases with the age of the vacancy filled. We calibrate the model on US labor market data. The magnitude of the externality is small, despite the fact that the contribution of phantom vacancies to overall frictions is large.

Suggested Citation

  • Susan Vroman, 2015. "Directed Search with Phantom Vacancies," 2015 Meeting Papers 649, Society for Economic Dynamics.
  • Handle: RePEc:red:sed015:649
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    References listed on IDEAS

    as
    1. Marinescu, Ioana, 2017. "The general equilibrium impacts of unemployment insurance: Evidence from a large online job board," Journal of Public Economics, Elsevier, vol. 150(C), pages 14-29.
    2. Albrecht, James & Navarro, Lucas & Vroman, Susan, 2010. "Efficiency in a search and matching model with endogenous participation," Economics Letters, Elsevier, vol. 106(1), pages 48-50, January.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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