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Author:Ratner, David 

Working Paper
VACANCY CHAINS

Replacement hiring—recruitment that seeks to replace positions vacated by workers who quit—plays a central role in establishment dynamics. We document this phenomenon using rich microdata on U.S. establishments, which frequently report no net change in their employment, often for years at a time, despite facing substantial gross turnover in the form of quits. We propose a model in which replacement hiring is driven by the presence of a putty-clay friction in the production structure of establishments. Replacement hiring induces a novel positive feedback channel through which an initial ...
Working Papers , Paper 20-28

Working Paper
Vacancy Chains

Replacement hiring—recruitment that seeks to replace positions vacated by workers who quit—plays a central role in establishment dynamics. We document this phenomenon using rich microdata on U.S. establishments, which frequently report no net change in their employment, often for years at a time, despite facing substantial gross turnover in the form of quits. We devise a tractable model in which replacement hiring is driven by a novel structure of frictions, combining firm dynamics, on-the-job search, and investments into job creation that are sunk at the point of replacement. A key ...
Working Papers , Paper 22-23

Discussion Paper
A Cautionary Note on the Help Wanted Online Data

Measuring labor demand is one of the crucial tasks in analyzing the labor market. In the case of the United States, two main data sources geared towards this objective are the Job Openings and Labor Turnover Survey (JOLTS), administered by the Bureau of Labor Statistics, and the Conference Board Help Wanted Online series (HWOL). In this note we exploit the timing of Craigslist price increases by metropolitan area (MSA) to find their effect on online vacancy posting.
FEDS Notes , Paper 2016-06-23

Working Paper
How Large were the Effects of Emergency and Extended Benefits on Unemployment during the Great Recession and its Aftermath?

This paper presents estimates of the effect of unemployment benefit extensions during the Great Recession on unemployment and labor force participation. Unlike many recent studies of this subject, our estimates, following the work of Hagedorn, Karahan, Manovskii, and Mitman (2016), are inclusive of the effects of benefit extensions on employer, as well as, worker behavior. To identify the effect of benefit extensions, we use plausibly exogenous changes in the rules governing benefit extensions and their differential effects on the maximum duration of benefits across states. We find that the ...
Finance and Economics Discussion Series , Paper 2017-068

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