Opening the Black Box of the Matching Function: The Power of Words

• 成果类型: Article
• 署名作者: Marinescu, Ioana; Wolthoff, Ronald
• 署名单位: University of Pennsylvania; National Bureau of Economic Research; University of Toronto
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/705903
• 发表日期: 2020
• 页码: 535-568
• 关键词: high wage workers; labor-market; directed search; jobs; unemployment; mobility; FIRMS

摘要

On the leading job board CareerBuilder.com, high-wage job postings unexpectedly attract fewer applicants, and this is the case even within a detailed occupation. Viewed through the lens of our directed search model, this negative relationship is indicative of substantial applicant heterogeneity within an occupation. Empirically, we find that job title heterogeneity is key: within a job title, jobs with 10% higher wages do attract 7.7% more applicants. Furthermore, our findings are consistent with a higher return to worker quality for hires in manager and senior job titles. Overall, our findings demonstrate the power of words in the matching process.