Centre for Finance, Credit and Macroeconomics (CFCM)

Manolis Galenianos (Royal Holloway, University of London)

Date(s)
Thursday 3rd April 2014 (14:00-15:30)
Description

Hiring Through Referrals

An equilibrium search model of the labor market is combined with a social network. The key features are that the workers' network transmits information about jobs and that wages and firm entry are determined endogenously. Empirically, the inter-industry variation in aggregate matching efficiency is attributed to the variation in referral use. The model predicts that the efficiency of the aggregate matching function is pro-cyclical which is consistent with empirical evidence.

Centre for Finance, Credit and Macroeconomics

Sir Clive Granger Building
University of Nottingham
University Park
Nottingham, NG7 2RD

Enquiries: hilary.hughes@nottingham.ac.uk