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UID:1b4cfd9f5704585f3003f5b473cd93e1
CATEGORIES:Seminars
CREATED:20211130T124526
SUMMARY:Thomas Le Barbanchon - Università Bocconi
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nHiring Difficulties and Firms' Growth" with Maddalena Ronchi and Julien
  Sauvagnat\n \n \n\n\nAbstract: \nThis paper studies the role of recru
 itment difficulties on firms' growth by combining unique vacancy-level data
  from France with an identification strategy based on a shift-share design.
  Specifically, we exploit cross-firm variation in exposure to recruiting di
 fficulties stemming from initial differences in firms’ occupational mix and
  we leverage recruiting difficulties shifts using market-level changes in t
 he time it takes to fill a vacancy in each occupation, with a leave-one-out
  correction at the industry-level. We find that higher hiring difficulties 
 translate into fewer vacancies posted by firms employing workers in hard-to
 -recruit occupations. This hampers their employment, with a one-standard de
 viation increase in predicted recruiting time decreasing firms' employment 
 by 5 to 9%. These effects are especially large when firms are labor-intensi
 ve and when they employ a higher share of workers in highly specialized occ
 upations. Complementing the results on employment, we find evidence of nega
 tive effects also on firms’ investment, profits, and sales. Finally, we sho
 w that firms partially adjust to hiring difficulties by increasing wages, r
 etaining incumbent workers, and promoting them higher up into high-pay occu
 pations. \n
DTSTAMP:20260529T192455Z
DTSTART:20220512T163000Z
DTEND:20220512T180000Z
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