000			01269nam a22001577a 4500
999			_c517101 _d517101
008			210630b ||||| |||| 00| 0 eng d
100			_aLeduc, Sylvain and Liu, Zheng _926124
245			_aThe Weak Job Recovery in a Macro Model of Search and Recruiting Intensity
260			_aAmerican Economic Journal Macroeconomics
300			_a12(1), Jan, 2020: p.310-343
520			_aWe show that cyclical fluctuations in search and recruiting intensity are quantitatively important for explaining the weak job recovery from the Great Recession. We demonstrate this result using an estimated labor search model that features endogenous search and recruiting intensity. Since the textbook model with free entry implies constant recruiting intensity, we introduce a cost of vacancy creation, so that firms respond to aggregate shocks by adjusting both vacancies and recruiting intensity. Fluctuations in search and recruiting intensity driven by shocks to productivity and the discount factor help bridge the gap between the actual and model-predicted job filling rate. – Reproduced
650			_aLabor Contracts, Labor Turnover; Vacancies, Unemployment, Job Search _926125
773			_aAmerican Economic Journal Macroeconomics
906			_aEMPLOYMENT
942			_cAR