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percent increase in the statelevel effective minimum wage reduces vacancies by 2.4 percent in the same quarter, and the … cumulative effect is as large as 4.5 percent a year later. The negative effect on vacancies is more pronounced for occupations …. We argue that our focus on vacancies versus on employment has a distinct advantage of highlighting a mechanism through …
Persistent link: https://www.econbiz.de/10013373856
Although labor market "mismatch" often refers to an imbalances in supply and demand across occupations, mismatch within occupations can arise if skill requirements are changing over time, potentially reducing aggregate matching efficiency within the labor market. To test this, we examine changes...
Persistent link: https://www.econbiz.de/10014469809
Beveridge (full-employment-consistent) rate of unemployment (BECRU), derived from the unemployment-vacancies relationship. The …
Persistent link: https://www.econbiz.de/10014517417
We use a novel data set on firm vacancies and job seekers from a Mexican government job placement service to analyze …
Persistent link: https://www.econbiz.de/10010392383
vacancies on the other hand, which is observationally equivalent to a constant return Cobb-Douglas function commonly used to …
Persistent link: https://www.econbiz.de/10010420654
comovement between matches, unemployment, and vacancies in dynamic labor market models: either by assuming a standard Cobb …
Persistent link: https://www.econbiz.de/10010421141
We show that the inability of a standardly-calibrated labor search-and-matching model to account for labor market volatility extends beyond the U.S. to a set of OECD countries. That is, the volatility puzzle is ubiquitous. We argue cross-country data is helpful in scrutinizing between potential...
Persistent link: https://www.econbiz.de/10010500264
Using a novel database of 82.5 million online job postings, we show that employer skill requirements fell as the labor market improved from 2010 to 2014. We find that a 1 percentage point reduction in the local unemployment rate is associated with a roughly 0.27 percentage point reduction in the...
Persistent link: https://www.econbiz.de/10011754806
estimation, show economically significant effects of shocks to the number of vacancies on employment dynamics, while shocks to … vacancies in the local labor market, and what impact it has on employment. A greater availability of unemployed workers should … make it easier for a firm to fill a vacancy but more vacancies at other firms should make it more difficult, due to the …
Persistent link: https://www.econbiz.de/10010321379
This paper establishes a new fact about the compositional changes in the pool of unemployed over the U.S. business cycle and evaluates a number of theories that can potentially explain it. Using micro-data from the Current Population Survey for the years 1962-2011, it documents that in...
Persistent link: https://www.econbiz.de/10010289903