TY  - BOOK
AU  - Juhn,Chinhui
AU  - McCue,Kristin
AU  - Monti,Holly
AU  - Pierce,Brooks
ED  - National Bureau of Economic Research.
TI  - Firm Performance and the Volatility of Worker Earnings
T2  - NBER working paper series
PY  - 2017///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - January 2017; Hardcopy version available to institutional subscribers
N2  - Using linked employer-employee data for the U.S., we examine whether shocks to firm revenues are transmitted to the earnings of continuing employees.  While full insurance is rejected, the elasticity of worker earnings with respect to persistent shocks in firm revenues is small and consistent with the notion that firms insulate workers from idiosyncratic shocks. Exploring heterogeneity of effects, we find the largest elasticity in professional services, among employees in the top 5% of their employers' earnings distribution, suggesting that in certain jobs performance pay may be a countervailing force to wage insurance
UR  - https://www.nber.org/papers/w23102
UR  - http://dx.doi.org/10.3386/w23102
ER  -