Effect of Market Concentration on Real Wages: Panel Regressions (First Stage)
| Dependent Variable: Log HHI (Vacancies) | |||
|---|---|---|---|
| (1) | (2) | (3) | |
| Panel A: Market-Level Regressions | |||
| Average log (1/N) in other markets | 1.005*** | 1.046*** | 1.074*** |
| (0.0344) | (0.0323) | (0.0340) | |
| Log tightness | 0.171*** | 0.198*** | |
| (0.00471) | (0.00558) | ||
| Market (CZ × six-digit SOC) FE | ✓ | ✓ | ✓ |
| year–quarter FE | ✓ | ✓ | |
| year–quarter FE × CZ FE | ✓ | ||
| Observations | 59,485 | 58,642 | 56,679 |
| R-squared | 0.846 | 0.852 | 0.865 |
| Dependent Variable: Log HHI (Vacancies) | ||||
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| Panel B: Vacancy-Level Regressions | ||||
| Average log (1/N) in other markets | 0.871*** | 0.926*** | 0.889*** | 0.931*** |
| (0.129) | (0.124) | (0.116) | (0.0760) | |
| Log tightness | 0.341*** | |||
| 0.451*** | 0.252*** | |||
| (0.0162) | (0.0186) | (0.0146) | ||
| CZ × six-digit SOC FE | ✓ | ✓ | ✓ | |
| year–quarter FE | ✓ | ✓ | ✓ | |
| year–quarter FE × CZ FE | ✓ | |||
| CZ × Job-title FE | ✓ | |||
| Observations | 1,023,295 | 1,021,185 | 1,020,510 | 955,641 |
| R-squared | 0.902 | 0.913 | 0.928 | 0.948 |