WAGE ADJUSTMENT AND PRODUCTIVITY SHOCKS

• 成果类型: Article
• 署名作者: Carlsson, Mikael; Messina, Julian; Skans, Oskar Nordstrom
• 署名单位: Uppsala University; Sveriges Riksbank
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12214
• 发表日期: 2016
• 页码: 1739-1773
• 关键词: Firm-level data; technology shocks; labor-market; panel-data; Heterogeneity; unemployment; INVESTMENT; profitability; specification; reallocation

摘要

We study how workers' wages respond to changes in firm-level physical productivity using Swedish data. We find that technology shocks affect workers' wages through both internal and external forces. Wages respond three times as much to physical productivity shocks that are shared with outside firms within the same sector as they do to firm-level physical productivity shocks. The larger impact of sectoral physical productivity is related to the degree of within-sector labour mobility, suggesting that the productivity evolution among firms that draw their labour from the same market segment is a crucial determinant of the wage growth of incumbent workers.