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Why Still Vacant? Different Dynamics between Vacancy and Recruiting Intensity from the Impact of the Uncertainty Shocks : 불확실성 충격으로부터의 채용공고와 채용강도의 상이한 반응와 그 동학에 관한 연구
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- Authors
- Advisor
- 이철인
- Major
- 사회과학대학 경제학부
- Issue Date
- 2018-08
- Publisher
- 서울대학교 대학원
- Description
- 학위논문 (석사)-- 서울대학교 대학원 : 사회과학대학 경제학부, 2018. 8. 이철인.
- Abstract
- This paper addresses a puzzling observation of the sluggish recovery pace of recruiting intensity compared to vacancies after the Great Recession. I hypothesize two economic elements to explain the observation: (i) the realistic features of the recruiting process and (ii) the impact of uncertainty shocks. By postulating the recruiting process as a sequential procedure of vacancy creation as a plan and recruiting intensity as an action, hence, positing vacancy as a state variable, this paper allows for reactions from the impact of the uncertainty shocks which differ from conventional reactions. Using vector autoregression, I show that there are statistically significant responses of recruiting intensity from the uncertainty shock while not for vacancy. Also, by constructing a dynamic stochastic general equilibrium model with a generalized search and matching framework, I show that there are larger negative responses in recruiting intensity compared to vacancy from the impact of second-order shocks.
- Language
- English
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