Worker Selection, Hiring, and Vacancies

• 成果类型: Article
• 署名作者: Baydur, Ismail
• 署名单位: Singapore Management University
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.20140260
• 发表日期: 2017
• 页码: 88-127
• 关键词: equilibrium unemployment; cyclical behavior; labor-market; turnover costs; firm dynamics; search; EFFICIENCY; wages; size

摘要

This paper incorporates worker selection into a random matching model with multi-worker firms. Unlike the standard Diamond-Mortensen-Pissarides (DMP) model, the extended model is compatible with cross-sectional behavior of vacancy yields, which rise with employment growth and worker turnover, but fall with establishment size. Using calibrated versions of the standard and worker selection models, I show that accounting for these patterns has quantitatively important policy implications. I also compare the worker selection and the directed search models. While both models account for these patterns equally well, they differ with regard to labor market policy. (JEL E24, J23, J63, J64)