Rent Sharing within Firms

• 成果类型: Article
• 署名作者: Cho, David; Krueger, Alan B.
• 署名单位: Federal Reserve System - USA; Federal Reserve System Board of Governors; Princeton University
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/718713
• 发表日期: 2022
• 页码: S17-S38
• 关键词: competition; wages; panel

摘要

This study investigates the extent to which economic rents are shared among different types of workers within firms. We utilize administrative payroll records in order to estimate the elasticity of employee compensation with respect to the price of crude oil at petroleum extraction companies. We find that the elasticity of rent sharing is heterogeneous within firms and significantly higher for workers at the top of the earnings distribution. These results can be rationalized by a bargaining model in which insiders within a firm possess greater power to negotiate over wages.