Separations Elasticities Based on Matched Event Study
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | |
|---|---|---|---|---|---|---|---|---|---|
| First stage | 0.122 | 0.148 | 0.148 | 0.176 | 0.173 | 0.070 | 0.165 | 0.171 | 0.173 |
| (0.006) | (0.001) | (0.003) | (0.004) | (0.003) | (0.009) | (0.007) | (0.006) | (0.006) | |
| IV estimates | |||||||||
| Separations | -0.761 | -2.431 | -2.475 | -2.100 | -2.014 | -1.293 | -2.084 | -2.085 | -2.163 |
| (0.051) | (0.033) | (0.059) | (0.054) | (0.040) | (0.513) | (0.096) | (0.096) | (0.080) | |
| E-E separations | -1.352 | -4.000 | -4.341 | -4.031 | -3.606 | -1.754 | -4.326 | -4.379 | -4.201 |
| (0.096) | (0.079) | (0.144) | (0.154) | (0.108) | (1.549) | (0.304) | (0.314) | (0.234) | |
| E-N separations | -0.693 | -2.409 | -2.415 | -2.048 | -1.955 | -0.761 | -2.001 | -1.969 | -1.956 |
| (0.057) | (0.041) | (0.072) | (0.071) | (0.052) | (0.568) | (0.123) | (0.124) | (0.099) | |
| Obs. | 8.281 | 7.380 | 3.078 | 3.068 | 4.172 | 3.068 | 1.513 | 1.511 | 1.868 |
| Movers | 852,341 | 805,633 | 347,418 | 346,261 | 474,817 | 346,140 | 160,606 | 160,443 | 194,976 |
| F-statistic (IV) | 282 | 7053 | 1844 | 1397 | 2847 | 46 | 522 | 582 | 542 |
| Coarsened controls | Y | ||||||||
| Interacted controls | |||||||||
| Time | Y | Y | Y | Y | Y | Y | Y | Y | Y |
| × Firm | Y | Y | Y | Y | Y | Y | Y | Y | |
| × wage 0 × tenure | Y | Y | Y | Y | Y | Y | |||
| × 3 qtr wage lags | Y | ||||||||
| Other controls | |||||||||
| O–I Firm-pair FE | Y | ||||||||
| AKM Worker FE | Y | ||||||||
| Sample restricted based on | |||||||||
| Column 4 | Y | ||||||||
| Column 8 | Y | ||||||||
Notes: See text for sample construction. The full instrumental variables specification is provided in Equations 12 and 13 in the main text. The outcomes
indicate separation, E-E separation, and E-N separation such that s is missing for all periods after a single reseparation (and E-N reseparating workers are missing for the E-E separation outcome, similarly for the E-N separation outcome). Each of these regressions includes fixed effects as indicated, where “×” indicates that fixed effects are interacted. “Wage
0” indicates the wage at hire, and “3 qtr wage lags” indicates three quarters of pre-separation wages (Origin firm). Fixed effects are divided into eight equal bins, except where coarsened, which indicates that four bins are used instead. O–I Firm-pair FE indicate fixed effects for every Origin-Intermediate firm pair. AKM worker FE indicates a continuous control for the AKM worker fixed effect from the previous time period. The sample is restricted to the post-í period. Where indicated, the sample is additionally restricted for comparability to the estimable sample for the corresponding set of fixed effects. Change in own wage is trimmed at the 1 percent tails. All regressions are clustered at the level of origin firm by initial separation quarter. Only elasticities are reported by dividing regression coefficients by the average relevant sample reseparation rate.
