Effect of Market Concentration on Real Wages: Robustness Checks 2 (Panel IV)
| Dependent Variable: Log(Real Wage) | |||||||
|---|---|---|---|---|---|---|---|
| 1/N (1) | HHI (EOI) (2) | County (3) | Cross-Section (4) | Cross-Section (BLS Wages) (5) | Fraction Posting Wage (6) | Search Tightness (7) | |
| Log (1/N) | -0.0882*** | ||||||
| (0.0123) | |||||||
| Log HHI (EOI) | -0.102*** | ||||||
| (0.0142) | |||||||
| Log HHI (vacancies) | -0.142*** | -0.0927*** | -0.0352*** | -0.157*** | -0.125*** | ||
| (0.0153) | (0.0156) | (0.00555) | (0.0231) | (0.0185) | |||
| Log tightness | 0.00898*** | 0.00301 | 0.0248*** | 0.0300*** | 0.00308 | 0.0325*** | |
| (0.00345) | (0.00350) | (0.00337) | (0.00997) | (0.00349) | (0.00510) | ||
| Fraction posting wage | 0.147*** | ||||||
| (0.0305) | |||||||
| Log (vacancies/searches) | 0.0252*** | ||||||
| (0.0447) | |||||||
| CZ FE × six-digit SOC FE | ✓ | ✓ | ✓ | ✓ | |||
| year–quarter FE × CZ FE | ✓ | ✓ | ✓ | ✓ | |||
| County FE × six-digit SOC FE | ✓ | ||||||
| year–quarter FE × county FE | ✓ | ||||||
| CZ FE | ✓ | ✓ | |||||
| Six-digit SOC FE | ✓ | ✓ | |||||
| Observations | 56,679 | 56,679 | 94,714 | 8,895 | 6,228 | 56,679 | 57,383 |
| R-squared | 0.714 | 0.711 | 0.722 | 0.606 | 0.937 | 0.709 | 0.712 |
| Kleibergen–Paap F-stat | 2008 | 1973 | 1473 | 1546 | 1494 | 643 | 800.8 |
Notes: Data are for the period 2010Q1–2013Q4. We cluster standard errors at the market level. In all cases, we report results from a panel IV specification using the average of log(l/2V) for the same six-digit SOC occupation in other commuting zones.
* p < 0.1,
** p < 0.05,
↵*** p < 0.01.