The Role of Referrals in Immobility, Inequality, and Inefficiency in Labor Markets

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Tác giả: Lukas Bolte, Nicole Immorlica, Matthew O Jackson

Ngôn ngữ: eng

Ký hiệu phân loại: 331.13 Maladjustments in labor market

Thông tin xuất bản: 2020

Mô tả vật lý:

Bộ sưu tập: Metadata

ID: 165920

We study the consequences of job markets' heavy reliance on referrals. Referrals screen candidates and lead to better matches and increased productivity, but disadvantage job-seekers who have few or no connections to employed workers, leading to increased inequality. Coupled with homophily, referrals also lead to immobility: a demographic group's low current employment rate leads that group to have relatively low future employment as well. We identify conditions under which distributing referrals more evenly across a population not only reduces inequality, but also improves future productivity and economic mobility. We use the model to examine optimal policies, showing that one-time affirmative action policies involve short-run production losses, but lead to long-term improvements in equality, mobility, and productivity due to induced changes in future referrals. We also examine how the possibility of firing workers changes the effects of referrals.
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