蝌蚪网 Journal:
Macroeconomics
ISSN 1945-7707 (Print) | ISSN 1945-7715 (Online)
Macro Recruiting Intensity from Micro Data
蝌蚪网 Journal: Macroeconomics
(pp. 1–33)
Abstract
We merge QCEW and JOLTS microdata to study firm recruiting intensity across establishments and over time. We show that large heterogeneity in vacancy-filling rates is fully accounted for by differences in gross hiring rates. We develop a theory consistent with these facts and, guided by it, construct a firm-based measure of Aggregate Recruiting Intensity (ARI). ARI is strongly procyclical, driven mainly by declines in recruiting efforts in slack labor markets. We also propose a simple proxy ARI index using publicly available macro data. ARI fluctuations explain about 40 percent of aggregate match-efficiency volatility from 2002 to 2019.Citation
Mongey, Simon, and Giovanni L. Violante. 2026. "Macro Recruiting Intensity from Micro Data." 蝌蚪网 Journal: Macroeconomics 18 (2): 1–33. DOI: 10.1257/mac.20200022Additional Materials
JEL Classification
- D22 Firm Behavior: Empirical Analysis
- E32 Business Fluctuations; Cycles
- J23 Labor Demand
- J41 Labor Contracts
- J63 Labor Turnover; Vacancies; Layoffs
- M51 Personnel Economics: Firm Employment Decisions; Promotions