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Directed search with phantom vacancies
Albrecht, James W.; Decreuse, Bruno; Vroman, Susan B. - 2020
When vacancies are filled, the ads that were posted are often not withdrawn, creating "phantom" vacancies. The existence of phantoms implies that older job listings are less likely to represent true vacancies than are younger ones. We assume that job seekers direct their search based on the...
Persistent link: https://www.econbiz.de/10012291017
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Multiple applications, competing mechanisms, and market power
Albrecht, James W.; Cai, Xiaoming; Gautier, Pieter; … - 2019
We consider a labor market with search frictions in which workers make multiple applications and firms can post and commit to general mechanisms that may be conditioned both on the number of applications received and on the number of offers received by its candidate. When the contract space...
Persistent link: https://www.econbiz.de/10012058290
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The production function for housing : evidence from France
Combes, Pierre-Philippe; Duranton, Gilles; Gobillon, Laurent - 2016
We propose a new nonparametric approach to estimate the production function for housing. Our estimation treats output … competitive house builders. For parcels of a given size, we compute housing by summing across the marginal products of non … housing across locations. We implement our methodology on newly-built single-family homes in France. We find that the …
Persistent link: https://www.econbiz.de/10011581668
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The understated "housing shortage" in the United States
Corinth, Kevin; Dante, Hugo - 2022
Following popular discourse, we abuse economic terminology by defining the "housing shortage" in the United States as … of homes. The magnitude of the housing shortage is important to policymakers, who use it to measure the scope of the … housing supply problem and the extent to which proposed policies would solve it. However, previous studies understate the …
Persistent link: https://www.econbiz.de/10013329574
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Equal price for equal place? : demand-driven racial discrimination in the housing market
Lepinteur, Anthony; Menta, Giorgia; Waltl, Sofie - 2023
Participants to an online study in Luxembourg are presented with fictitious real-estate advertisements and tasked to make an offer for each of them. A random subset is also shown sellers' names that are strongly framed to signal their origins. Our randomised procedure allows us to conclude that,...
Persistent link: https://www.econbiz.de/10014336072
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Directed search in the housing market
Albrecht, James W.; Gautier, Pieter; Vroman, Susan B. - 2009
In this paper, we present a directed search model of the housing market. The pricing mechanism we analyze reflects the …. Our model offers a new way to look at the housing market from a search-theoretic perspective. In addition, we contribute … and (ii) has the potential to signal seller type. -- Directed search ; housing …
Persistent link: https://www.econbiz.de/10003932400
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Competing with asking prices
Lester, Benjamin; Visschers, Ludo; Wolthoff, Ronald - 2013
In many markets, sellers advertise their good with an asking price. This is a price at which the seller is willing to take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the...
Persistent link: https://www.econbiz.de/10009696885
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Firm dynamics and residual inequality in open economies
Felbermayr, Gabriel; Impullitti, Giammario; Prat, Julien - 2014
Increasing wage inequality between similar workers plays an important role for overall inequality trends in industrialized societies. To analyze this pattern, we incorporate directed labor market search into a dynamic model of international trade with heterogeneous firms and homogeneous workers....
Persistent link: https://www.econbiz.de/10010246655
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Marketmaking middlemen
Gautier, Pieter; Hu, Bo; Watanabe, Makoto - 2016
This paper develops a model in which market structure is determined endogenously by the choice of intermediation mode. We consider two representative business modes of intermediation that are widely used in real-life markets: one is a middleman mode where an intermediary holds inventories which...
Persistent link: https://www.econbiz.de/10011526728
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How wage announcements affect job search : a field experiment
Belot, Michèle; Kircher, Philipp; Muller, Paul - 2018
We study how job seekers respond to wage announcements by assigning wages randomly to pairs of otherwise similar vacancies in a large number of professions. High wage vacancies attract more interest, in contrast with much of the evidence based on observational data. Some applicants only show...
Persistent link: https://www.econbiz.de/10011912803