Cyclical Job Ladders by Firm Size and Firm Wage

• 成果类型: Article
• 署名作者: Haltiwanger, John C.; Hyatt, Henry R.; Kahn, Lisa B.; McEntarfer, Erika
• 署名单位: University System of Maryland; University of Maryland College Park; Yale University
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.20150245
• 发表日期: 2018
• 页码: 52-85
• 关键词: employer size; PRODUCTIVITY; dispersion; turnover; mobility; creation; search; FLOWS

摘要

We study whether workers progress up firm wage and size job ladders, and the cyclicality of this movement. Search theory predicts that workers should flow toward larger, higher paying firms. However, we see little evidence of a firm size ladder, partly because small, young firms poach workers from all other businesses. In contrast, we find strong evidence of a firm wage ladder that is highly procyclical. During the Great Recession, this firm wage ladder collapsed, with net worker reallocation to higher wage firms falling to zero. The earnings consequences from this lack of upward progression are sizable.