Séminaire de Victor SALDARRIAGA

Séminaire de Victor SALDARRIAGA

Le 30 mars 2026

Le prochain séminaire du GAINS aura lieu le 31 mars 2026 de 10h30 à 12h00 en salle T204. Victor Saldarriaga (University of Edinburgh) présentera « Targeted Recruitment Over the Business Cycle ».

Abstract: 

Just as workers search for ideal jobs, firms search for suitable candidates to fill vacant posts. However, the labor market implications of firms' hiring strategies remain poorly understood, as standard job search models rarely account for employer recruitment behavior when sourcing fitted employees. To examine these effects, I develop a stochastic random search model with two-sided heterogeneity that incorporates a targeted recruitment mechanism by firms. In this framework, firms adjust their search behavior in response to aggregate productivity shocks by altering the measure of vacancies targeted at each worker type. This mechanism generates cyclical fluctuations in the composition of job openings across worker types, regulating both the rate and randomness of labor market meetings. I calibrate the model to match moments from U.S. quarterly data during the 1951q1-2019q4 period, and find that firms adopt more selective recruiting practices during economic downturns. By producing endogenous matching efficiency, the model replicates observed cyclical employment dynamics and explains diverse matching-related labor market phenomena. Moreover, it reveals that firms’ recruitment practices can generate negative externalities, leading to productive inefficiencies; distortions that corrective policies could mitigate by discouraging over-hiring.

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