Effect of Market Concentration on Real Wages: Robustness Checks 1
| Dependent Variable: Log( Real Wage) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Control for Vacancies | Excluding HHI = 1 | SOC-2 | Job Titles | |||||
| OLS (1) | IV (2) | OLS (3) | IV (4) | OLS (5) | IV (6) | OLS (7) | IV (8) | |
| Log HHI (vacancies) | -0.0373*** | -0.150*** | -0.0377*** | -0.131*** | -0.0491*** | -0.303*** | -0.00644*** | 0.0337 |
| (0.00405) | (0.0217) | (0.00425) | (0.0185) | (0.00522) | (0.0296) | (0.00247) | (0.0350) | |
| Log tightness | 0.0127*** | 0.0378*** | 0.0135*** | 0.0359*** | 0.0181*** | 0.0683*** | -0.00673*** | -0.0102*** |
| (0.00374) | (0.00604) | (0.00424) | (0.00582) | (0.00504) | (0.00765) | (0.000772) | (0.00237) | |
| Log vacancies | 0.00208 | -0.0143*** | 0.00467 | |||||
| (0.00331) | (0.00459) | (0.00363) | ||||||
| CZ FE × six-digit SOC FE | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ||
| year–quarter FE × CZ FE | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| CZ × Job-title FE | ✓ | ✓ | ||||||
| Observations | 56,679 | 56,679 | 51,607 | 51,607 | 36,023 | 36,023 | 231,072 | 182,354 |
| R-squared | 0.715 | 0.709 | 0.709 | 0.705 | 0.675 | -0.101 | 0.879 | -0.002 |
| Kleibergen–Paap F-stat | 565.6 | 907.1 | 667.3 | 462.8 | ||||
Notes: Data are for the period 2010Q1–2013Q4. We cluster standard errors at the market level. In IV specifications, we use as instrument the average of log(l/2V) for the same six-digit SOC occupation in other commuting zones. Robust standard errors in parentheses.
* p < 0.1,
** p < 0.05,
↵*** p < 0.01.