000			03158cam a22003737 4500
001			w22850
003			NBER
005			20211020105104.0
006			m o d
007			cr cnu||||||||
008			210910s2016 mau fo 000 0 eng d
100	1		_aCard, David. _97387
245	1	0	_aFirms and Labor Market Inequality: _bEvidence and Some Theory / _cDavid Card, Ana Rute Cardoso, Jörg Heining, Patrick Kline.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2016.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w22850
500			_aNovember 2016.
520	3		_aWe survey two growing bodies of research on firm-level drivers of labor market inequality. The first examines how wages are affected by differences in employer productivity. Studies that focus on firm-specific productivity shocks and control for the non-random sorting of workers to firms typically find that a 10% increase in value-added per worker leads to somewhere between a 0.5% and 1.5% increase in wages. Given the wide variation in firm-specific productivity, elasticities of this size suggest that a significant fraction of wage inequality is tied to firm performance. A second literature estimates two-way fixed effects models that rely on the wage changes of people who move between firms to identify firm-specific wage premiums. This literature also concludes that firm pay setting is important for wage inequality, with many studies finding that firm wage effects contribute approximately 20% of the overall variance of wages. To interpret these findings, we develop a model of firm wage setting in which workers have idiosyncratic tastes for different workplaces. We show that simple versions of this model can rationalize the standard two-way fixed effects specification proposed by Abowd, Kramarz and Margolis (1999), and can also match the typical "rent-sharing" elasticities estimated in the literature. Extended versions of the model can potentially explain differences in the wage premiums paid by a given employer to different subgroups of workers.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aD24 - Production • Cost • Capital • Capital, Total Factor, and Multifactor Productivity • Capacity _2Journal of Economic Literature class.
690		7	_aJ31 - Wage Level and Structure • Wage Differentials _2Journal of Economic Literature class.
690		7	_aJ42 - Monopsony • Segmented Labor Markets _2Journal of Economic Literature class.
700	1		_aCardoso, Ana Rute.
700	1		_aHeining, Jörg.
700	1		_aKline, Patrick. _914372
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w22850.
856	4	0	_uhttps://www.nber.org/papers/w22850
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w22850
942			_2ddc _cW-PAPER
999			_c325272 _d283834