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Vacancy Duration and Wages

Ihsaan Bassier¹; Alan Manning²; Barbara Petrongolo³

¹ Centre for Economic Performance, London School of Economics, and Economics, University of Surrey, Guildford GU2 7XH, UK [email protected] · ² Centre for Economic Performance and Department of Economics, London School of Economics, Houghton Street, London WC2A 2AE, UK [email protected] · ³ Centre for Economic Performance, London School of Economics, and Department of Economics, Oxford University, Manor Road, Oxford OX1 3UQ, UK [email protected]

Abstract We estimate the elasticity of vacancy duration with respect to posted wages, using data from the near-universe of online job adverts in the United Kingdom. Our research design leverages firm-level wage policies that are plausibly exogenous to hiring difficulties on specific job vacancies, and controls for job and marketlevel fixed-effects. Wage policies are defined based on external information on pay settlements, or on sharp, internally-defined, firm-level changes. In our preferred specifications, we estimate duration elasticities in the range −3 to −5, which are substantially larger than the few existing estimates.

DOI

10.1162/rest_a_01580

Pages

1-28

Language

en

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