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Applications and Interviews: Firms' Recruiting Decisions in a Frictional Labor Market

Listed author(s):
  • Ronald Wolthoff

I develop a directed search model of the labor market in which firms choose a recruiting intensity, determining the number of applicants they will interview. Interviewing applicants is costly but reveals their productivity, allowing the firm to hire better workers. I characterize the equilibrium and find that the uniqueness and cyclicality of recruiting intensity crucially depend on parameter values. Calibration of the model to the US labor market indicates a multiplicity of the equilibrium. An increase in aggregate productivity---given selection of a particular equilibrium---causes recruiting intensity to move counter to unemployment, while a shock to the equilibrium selection rule predicts the opposite pattern.

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File URL: https://www.economics.utoronto.ca/public/workingPapers/tecipa-522.pdf
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Paper provided by University of Toronto, Department of Economics in its series Working Papers with number tecipa-522.

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Length: Unknown pages
Date of creation: 10 Nov 2014
Handle: RePEc:tor:tecipa:tecipa-522
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  1. Faberman, R. Jason & Kudlyak, Marianna, 2016. "The Intensity of Job Search and Search Duration," Working Paper Series 2016-13, Federal Reserve Bank of San Francisco.
  2. Pieter A. Gautier & Ronald P. Wolthoff, 2006. "Simultaneous Search with Heterogeneous Firms and Ex Post Competition," Tinbergen Institute Discussion Papers 06-032/3, Tinbergen Institute.
  3. Guido Menzio & Shouyong Shi, 2011. "Efficient Search on the Job and the Business Cycle," Journal of Political Economy, University of Chicago Press, vol. 119(3), pages 468-510.
  4. Lester, Benjamin R. & Visschers, Ludo & Wolthoff, Ronald P., 2013. "Competing with Asking Prices," IZA Discussion Papers 7163, Institute for the Study of Labor (IZA).
  5. Pieter Gautier & Jose L Moraga-Gonzalez & Ronald Wolthoff, 2015. "Search Costs and Efficiency: Do Unemployed Workers Search Enough?," Working Papers tecipa-527, University of Toronto, Department of Economics.
  6. van Ours, J.C. & Ridder, G., 1992. "Vacancies and recruitment of new employees," Other publications TiSEM 9acc708a-0885-46a2-aef5-7, Tilburg University, School of Economics and Management.
  7. Manolis Galenianos & Philipp A. Kircher, 2005. "Directed Search with Multiple Job Applications," Bonn Econ Discussion Papers bgse20_2005, University of Bonn, Germany.
  8. Bruce C. Fallick & Charles A. Fleischman, 2004. "Employer-to-employer flows in the U.S. labor market: the complete picture of gross worker flows," Finance and Economics Discussion Series 2004-34, Board of Governors of the Federal Reserve System (U.S.).
  9. Abbring, J. H. & van Ours, J. C., 1994. "Sequential or non-sequential employers' search?," Economics Letters, Elsevier, vol. 44(3), pages 323-328.
  10. Benjamin Lester & Ludo Visschers & Ronald Wolthoff, 2014. "Meeting Technologies and Optimal Trading Mechanisms in Competitive Search Markets," Working Papers tecipa-508, University of Toronto, Department of Economics.
  11. Benjamin Lester & Ludo Visschers & Ronald Wolthoff, 2014. "Competing with Asking Prices (first version)," ESE Discussion Papers 243, Edinburgh School of Economics, University of Edinburgh.
  12. Guido Menzio & Shouyong Shi, 2008. "Efficient Search on the Job and the Business Cycle, Second Version," PIER Working Paper Archive 09-010, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 28 Feb 2009.
  13. Bemjamin Villena-Roldan, 2009. "Aggregate Implications of Employer Search and Recruiting Selection," 2009 Meeting Papers 97, Society for Economic Dynamics.
  14. Ronald Wolthoff & Benjamin Lester, 2012. "Interviews and the Assignment of Workers to Jobs," 2012 Meeting Papers 631, Society for Economic Dynamics.
  15. Wolthoff, Ronald P., 2010. "Applications and Interviews: A Structural Analysis of Two-Sided Simultaneous Search," IZA Discussion Papers 5416, Institute for the Study of Labor (IZA).
  16. Ronald Wolthoff & Lodewijk Visschers & Benjamin Lester, 2012. "Asking Prices and Inspection Goods," 2012 Meeting Papers 792, Society for Economic Dynamics.
  17. Lester, Benjamin & Visschers, Ludo & Wolthoff, Ronald, 2014. "Meeting technologies and optimal trading mechanisms in competitive search markets," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN 2015-36, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  18. Christopher A. Pissarides, 2000. "Equilibrium Unemployment Theory, 2nd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262161877, September.
  19. Moscarini, Giuseppe & Thomsson, Kaj, 2006. "Occupational and Job Mobility in the US," Working Papers 19, Yale University, Department of Economics.
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