Alternative Specifications for Separations and Recruit Elasticities to Firm Component of Wage Using AKM
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | |
|---|---|---|---|---|---|---|---|---|
| All separations | -0.878 | -0.936 | -0.776 | -0.809 | -1.262 | -1.228 | -1.336 | -1.406 |
| (0.066) | (0.071) | (0.033) | (0.039) | (0.075) | (0.065) | (0.055) | (0.063) | |
| E-E separations | -0.866 | -0.913 | -0.946 | -0.987 | -1.607 | -1.535 | -1.545 | -1.553 |
| (0.057) | (0.061) | (0.053) | (0.065) | (0.115) | (0.109) | (0.08) | (0.102) | |
| N-E separations | -0.709 | -0.752 | -0.857 | -0.739 | -1.115 | -1.161 | -1.191 | -1.293 |
| (0.054) | (0.058) | (0.033) | (0.034) | (0.066) | (0.053) | (0.05) | (0.048) | |
| E-E recruits | 0.783 | 0.832 | 0.493 | 0.349 | 0.354 | 0.442 | 0.323 | 0.338 |
| (0.112) | (0.121) | (0.042) | (0.045) | (0.071) | (0.064) | (0.064) | (0.075) | |
| Pct. EE-recruits | 0.464 | 0.465 | 0.43 | 0.467 | 0.463 | 0.465 | 0.466 | 0.465 |
| Labor supply elasticity | 0.865 | 0.908 | 1.348 | 1.493 | 2.597 | 2.429 | 2.578 | 2.629 |
| (0.143) | (0.154) | (0.089) | (0.107) | (0.186) | (0.174) | (0.136) | (0.169) | |
| Obs. (millions) | 7.348 | 7.304 | 16.45 | 77.767 | 70.609 | 51.92 | 41.796 | 51.629 |
| Firm FE | Y | Y | Y | Y | Y | Y | Y | Y |
| Split sample | Y | Y | Y | Y | Y | Y | Y | |
| F-statistic | 4,586 | 12,043 | 8,637 | 9,820 | 11,015 | 9,266 | ||
| Hazard spec. | Y | Y | ||||||
| Annual earnings | Y | |||||||
| Quarterly earnings | Y | |||||||
| No trimming | Y | |||||||
| Controls | ||||||||
| Tenure trend | Y | |||||||
| Indus. × County FE | Y | |||||||
| Indus. × Tenure trends | Y | |||||||
Notes: The first-stage F-statistic is given for the Row 1 regression. The unit of observation for hazard specifications is an employment spell, and for the linear specifications, it is each job-quarter record. Column 2 uses the split sample in a control function for the hazard specification. Annual earnings indicates the annualized panel (one observation per worker–year), from which the AKM firm FEs (using log annual earnings) and separations variables are estimated. Quarterly earnings indicates AKM firm FEs estimated with quarterly earnings. Elasticities are reported in each cell for the linear specifications, by dividing the regression coefficient by the corresponding sample mean of the outcome. Tenure refers to the number of quarters since the job started, is coded as a continuous variable and includes control terms up to a quadratic power of tenure. Industry is defined at the one-digit level. Firm fixed effects are censored at the 2.5 percent tails of the firm FE distribution, except where “no trimming” is indicated. Standard errors are shown in parentheses are clustered at the firm level.