Firm Performance and the Volatility of Worker Earnings

Autor:	Brooks Pierce, Chinhui Juhn, Holly Monti, Kristin McCue
Rok vydání:	2018
Předmět:	Professional services Economics and Econometrics Labour economics Earnings media_common.quotation_subject Earnings distribution 05 social sciences 050209 industrial relations Wage 0502 economics and business Industrial relations Revenue Business 050207 economics Volatility (finance) Elasticity (economics) Performance pay media_common
Zdroj:	Journal of Labor Economics. 36:S99-S131
ISSN:	1537-5307 0734-306X
DOI:	10.1086/694167
Popis:	Using linked employer-employee data for the United States, we examine whether shocks to firm revenues are transmitted to the earnings of continuing employees. While full insurance is rejected, the elasticity of worker earnings with respect to persistent shocks in firm revenues is small and consistent with the notion that firms insulate workers from idiosyncratic shocks. Exploring the heterogeneity of effects, we find the largest elasticity in professional services among employees in the top 5% of their employers’ earnings distribution, suggesting that in certain jobs performance pay may be a countervailing force to wage insurance.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::2a167036c8ae77390e3023ef3103c9e9 https://doi.org/10.1086/694167 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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