DIVERSE ORGANIZATIONS AND THE COMPETITION FOR TALENT

• 成果类型: Article
• 署名作者: Eeckhout, Jan; Pinheiro, Roberto
• 署名单位: University of London; University College London; University of Colorado System; University of Colorado Boulder
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/iere.12065
• 发表日期: 2014
• 页码: 625-664
• 关键词: comparative advantage; size distribution; firm-level; panel-data; PRODUCTIVITY; assignment; KNOWLEDGE; GROWTH; wages; MODEL

摘要

We propose a theory of firm production that requires diverse inputs. We show that in a competitive labor market, firms differ in their skill composition. Organizations with higher total factor productivity (TFP) are larger and hire from a broader range of skills. Technological progress leads to an increase of all wages and results in downsizing. Quantifying productivity using our model shows that a constant elasticity of substitution (CES) production function generates unbiased estimates of TFP but biased estimates of marginal product and elasticity of substitution across skills. Our model also generates estimates of the TFP distribution based on CEO compensation alone.