Strategic complementarity in labor demand: Evidence from US industry leading firms
研究了美国行业领先企业在本地劳动力市场中劳动力需求的战略互补性，发现其他企业职位空缺增加10%会导致自身空缺减少5%至8%，并识别了工资调整和匹配摩擦作为关键渠道。
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.