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Keywords:Outflows 

Working Paper
Job Applications and Labor Market Flows

Unemployment inflows have declined sharply since the 1980s while unemployment outflows have remained mostly steady despite a rise in workers' applications over time. Using a random search model of multiple applications with costly information, we show how rising applications incentivize more firms to acquire information, improving the realized distribution of match qualities. Higher concentrations of high productivity matches reduce the incidence of endogenous separations, causing unemployment inflow rates to fall. Quantitatively, our model replicates the relative change in inflow and outflow ...
Working Papers , Paper 2020-023

Working Paper
Job Applications and Labor Market Flows

Improvements in search technology have led to an increase in worker applications over time. Concomitantly, unemployment inflow rates have declined sharply, with no long-run change in job-finding rates. To explain these trends, we introduce a search model with multiple applications and costly information acquisition. When workers send more applications, the model predicts that firms invest more in finding good matches, leading to fewer separations, while workers become choosier about which offers they accept, mitigating the rise in job-finding rates. Quantitatively, the model replicates the ...
Working Papers , Paper 2020-023

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