Strategic complementarity in labor demand: Evidence from US industry leading firms
中文摘要
本文考察美国地方劳动力市场中行业领军企业劳动需求中的战略互补性。利用在线职位空缺发布数据和份额移动(shift-share)工具变量方法,我发现其他企业的职位空缺发布量增加10%,会使企业自身的发布量减少5%至8%。我识别出工资调整与匹配摩擦是这一互补性背后的关键渠道。研究结果凸显了大型企业之间的战略互动如何塑造劳动力市场动态。
Abstract
This paper examines strategic complementarity in labor demand among industry-leading firms in U.S. local labor markets . Using online vacancy postings and a shift-share instrumental variable approach, I find that a 10% increase in other firms' vacancy postings reduces a firm's own postings by 5% to 8%. I identify wage adjustments and matching frictions as key channels underlying this complementarity. The findings highlight how strategic interactions among large firms shape labor market dynamics.