Notes: The first row represents estimates from Equations 9–11 where the only regressor in each model is log earnings. The second row estimates the same equations and includes age, age-squared, and indicator variables for female, nonwhite, Hispanic, education category controls, and year effects. Employer controls include number of employees working at the firm and industry indicator variables. The first four columns report the average firm-level elasticities of recruitment from employment and nonemployment and the separation elasticities to employment and nonemployment, respectively. The final column combines these elasticities, along with the calculated shares of separations/recruits to/from employment, separation rates, and growth rates to obtain the labor supply elasticity. The first two rows report only the long-run elasticities, while the third row describes the elasticities when a steady state is not assumed, and they are allowed to vary over time.