Authors: Benjamin Lester, David A. Rivers, and Giorgio Topa
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Staff Reports
The Heterogeneous Impact of Referrals on Labor Market Outcomes
Number 987
October 2021
October 2021
JEL classification: E42, E43, E44, E52, E58
We document a new set of facts regarding the impact of referrals on labor market outcomes. Our results highlight the importance of distinguishing between different types of referrals—those from family and friends and those from business contacts—and different occupations. Then we develop an on-the-job search model that incorporates referrals and calibrate the model to key moments in the data. The calibrated model yields new insights into the roles played by different types of referrals in the match formation process, and provides quantitative estimates of the effects of referrals on employment, earnings, output, and inequality.
Author Disclosure Statement(s)
Benjamin Lester
I declare that I have no relevant or material financial interests that relate to the research described in this paper. This paper has also been reviewed at the Federal Reserve Bank of Philadelphia.
David A. Rivers
The author declares that he has no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
Giorgio Topa
I, Giorgio Topa, declare that I have no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
I declare that I have no relevant or material financial interests that relate to the research described in this paper. This paper has also been reviewed at the Federal Reserve Bank of Philadelphia.
David A. Rivers
The author declares that he has no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
Giorgio Topa
I, Giorgio Topa, declare that I have no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
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