Firming Up Inequality

Size: px
Start display at page:

Download "Firming Up Inequality"

Transcription

1

2 Firming Up Inequality Jae Song Social Security Administration Fatih Guvenen Minnesota, FRB Mpls, NBER David Price Stanford Nicholas Bloom Stanford and NBER Till von Wachter UCLA and NBER February 22, 2016

3 Motivation I US income inequality has been rising for almost four decades I Much research on inequality between groups defined by observable characteristics: education/skill, occupation, age, gender, race, and so on. Main conclusion: substantial rise in within-group inequality. I This paper: study the employer/firm as an observable worker characteristic: Between firms (e.g., top firms are paying better) Within firms (e.g., higher executive pay relative to average pay) Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 1 / 93

4 This Paper Two questions: 1. How much of the rise in income inequality is between firms and how much is within firms? For bottom 99% : Almost all of it between firms: Almost all of it between firms For the top 1% : Almost all of it between firms up to 99.8th percentile: Almost all of it between firms up to 99.8th percentile 2. Why has inequality risen so much between firms? Large rise in sorting between firms and workers sorting between firms and workers Large rise in Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 2 / 93

5 Outline I The Social Security Administration (SSA) database I Non-parametric results on inequality The bottom 99% Robustness (region, industry, gender, age, measures) The top 1% I More formal econometric approach I Why is this happening? The changing structure of firms Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 3 / 93

6 The Data

7 Data: SSA Master Earnings File I Universe of all W-2s from 1978 to I For each job: SSN, EIN, and total compensation Total compensation includes: wages, salaries, tips, restricted stock grants, exercised stock options, severance payments, and many other types of income considered remuneration for labor services by the IRS. I For each worker: age, sex, place of birth, date of death I For each EIN: 4-digit SIC (industry) code, location We define Firm = EIN (same as used by Bureau of Labor Statistics) I No top-coding; no survey response error Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 4 / 93

8 Building a US Matched Employer-Employee Dataset I MEF: Universe of US workers =) Universe of U.S. firms I Individuals assigned to firm where they earn most of their annual income. I Baseline: Firms with 20+ employees. Workers at those firms. Exclude government and education. Covers 1.1 million firms (about 18% of total) and 103 million workers (73% of total) and $5.4tn in wages (80% of total) Results robust to sample selection (All firms & all sectors) & worker assignment to firms. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 5 / 93

9 Firm Size Distribution: EIN vs. Census Firm (Log) Number of Firms SSA Firms Census Firms Employees Notes: Natural log of the number of firms in each size category are shown. Census figures count the number of employees at a point in time, while the SSA numbers count the number of FTEs over the course of a year. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 6 / 93

10 Total Payroll Total Income Over Time Total Income (Trillions of 2012 Dollars) SSA total NIPA Year Notes: SSA data includes all entries in the MEF. All data are adjusted for inflation using the PCE price index. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 7 / 93

11 Total Employment Total Employment (Millions) SSA individuals Total Employment Over Time CPS Total Employment Year Notes: SSA data includes all entries in the MEF. Current Population Survey (CPS) total employment shows the yearly average of the monthly employment numbers in the CPS. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 8 / 93

12 Number of Firms Total Firms Over Time Number of Firms (Millions) SSA firms Census Firms Year Notes: SSA data includes all entries in the MEF. Census firms shows the total number of firms reported by the Census Bureau s Statistics of U.S. Businesses data set. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 9 / 93

13 EMPIRICAL RESULTS

14 Basic Variance Decomposition I w ij t : log income of worker i at firm j I Simple decomposition: w ij t w j t {z} Firm avg. wage + h w ij t w j t i {z } Worker wage rel. to firm avg. ) var i (w ij t {z } ) var j (w j t {z } ) + Total dispersion Between-firm dispersion JX P j var i (w ij t i 2 j). {z } Within-firm j dispersion j=1 P j : employment share of firm j Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 10 / 93

15 Total Wage Inequality Variance of Log(Wage) Total Variance Year Note: Firms with less than 10,000 FTE employees Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 11 / 93

16 Total vs. Between-Firm Wage Inequality Variance of Log(Wage) Total Variance Between Firm Year Note: Firms with less than 10,000 FTE employees Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 12 / 93

17 Total vs. Between-Firm Wage Inequality Variance of Log(Wage) Total Variance Between Firm Year Note: Firms with less than 10,000 FTE employees Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 13 / 93

18 Total, Between- and Within-Firm Inequality Variance of Log(Wage) Total Variance Within Firm Between Firm Year Note: Firms with less than 10,000 FTE employees Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 14 / 93

19 Large Firms Only (10,000+ FTE) Variance of Log(Wage) Total Variance Within Firm Between Firm Year Note: Firms with more than 10,000 FTE employees Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 15 / 93

20 A GRAPHICAL FRAMEWORK

21 Empirical Framework 0.4 Year = Density Income Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 17 / 93

22 Empirical Framework 0.4 Year = Density P10 P50 P90 Income Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 18 / 93

23 Empirical Framework 0.4 Year = Density P10 P50 P90 Income 0.4 Year = Density P10 P50 P90 Income Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 19 / 93

24 Example: No Rise in Inequality Earnings Change: 1982 to Individuals Percentiles of Earnings Distribution Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 20 / 93

25 Example: Rise in Inequality Between Top and Rest Earnings Change: 1982 to Individuals Percentiles of Earnings Distribution Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 21 / 93

26 Example: Rise in Inequality Everywhere Earnings Change: 1982 to Individuals Percentiles of Earnings Distribution Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 22 / 93

27 RESULTS: BOTTOM 99%

28 Wage Inequality: By Percentile Log Change, Indv Total Wage 50%ile 1981: $32k 2013: $36k top %ile 1981: $280k 2013: $540k Percentile of Indv Total Wage Note: Sample contains workers in firms with 20+ full-time equivalent employees. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 24 / 93

29 Calculating Average Log Employer Pay I Take the employers of workers who are in the same percentile bin of income distribution. I Then compute the average of log pay of each employer in this group. I Then compute the average of average log pay across all employers in the group Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 25 / 93

30 Wage Inequality: Between Firms Log Change, Indv Total Wage Avg of Log Wages at Firm 50%ile 1981: $30k 2013: $35k top %ile 1981: $49k 2013: $83k Percentile of Indv Total Wage Note: Sample contains workers in firms with 20+ full-time equivalent employees. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 26 / 93

31 Wage Inequality: Within Firms Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average 50%ile 1981: : 1.03 top %ile 1981: : Percentile of Indv Total Wage Note: Sample contains workers in firms with 20+ full-time equivalent employees. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 27 / 93

32 ROBUSTNESS

33 Wage Inequality: Within Firms Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Note: Sample contains workers in firms with 20+ full-time equivalent employees. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 29 / 93

34 Many Measures of Firm Pay Log Change, Avg of Log Wages at Firm (Difference) Percentile of Indv Total Wage Note: Sample contains workers in firms with 20+ full-time equivalent employees. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 30 / 93

35 Many Measures of Firm Pay Log Change, Avg of Log Wages at Firm (Difference) Firm Log Average (Leaving Out Indv) (Difference) Percentile of Indv Total Wage Note: Sample contains workers in firms with 20+ full-time equivalent employees. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 31 / 93

36 Many Measures of Firm Pay Log Change, Avg of Log Wages at Firm (Difference) Firm Log Average (Leaving Out Indv) (Difference) Firm Average Wage (Difference) Percentile of Indv Total Wage Note: Sample contains workers in firms with 20+ full-time equivalent employees. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 32 / 93

37 Many Measures of Firm Pay Log Change, Avg of Log Wages at Firm (Difference) Firm Log Average (Leaving Out Indv) (Difference) Firm Average Wage (Difference) 50th %ile at Firm (Difference) Percentile of Indv Total Wage Note: Sample contains workers in firms with 20+ full-time equivalent employees. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 33 / 93

38 Robustness: Std Dev. Log Wage Log Change, Std Dev of Log Wage at Firm Indv Total Wage Percentile of Indv Total Wage Note: Sample contains workers in firms with 20+ full-time equivalent employees. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 34 / 93

39 Robustness: Frac. Going to Bottom 95% Log Change, Frac of Wages to Bottom 95% Indv Total Wage Percentile of Indv Total Wage Note: Sample contains workers in firms with 20+ full-time equivalent employees. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 35 / 93

40 Individual Industries

41 Wage Inequality: Controlling for (4-Digit SIC) Industry Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Within Industry Note: Sample contains workers in firms with 20+ full-time equivalent employees. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 37 / 93

42 Fama-French Industries: Beer and Liquor Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Beer & Liquor Note: Sample contains an average of 65,660 workers in 1981 and Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 38 / 93

43 Fama-French Industries: Candy and Soda Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Note: Sample contains an average of 193,000 workers in 1981 and Candy & Soda Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 39 / 93

44 Fama-French Industries: Pharmaceuticals Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Pharmaceutical Products Note: Sample contains an average of 140,650 workers in 1981 and Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 40 / 93

45 Fama-French Industries: Chemicals Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Note: Sample contains an average of 644,660 workers in 1981 and Chemicals Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 41 / 93

46 Fama-French Industries: Defense Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Note: Sample contains an average of 74,350 workers in 1981 and Defense Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 42 / 93

47 Fama-French Industries: Recreation Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Recreation Note: Sample contains an average of 142,200 workers in 1981 and Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 43 / 93

48 Fama-French Industries: Utilities Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Utilities Note: Sample contains an average of 703,320 workers in 1981 and Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 44 / 93

49 Fama-French Industries: Consumer Goods Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Note: Sample contains an average of 1,699,270 workers in 1981 and Consumer Goods Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 45 / 93

50 Fama-French Industries: Communication Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Communication Note: Sample contains an average of 951,920 workers in 1981 and Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 46 / 93

51 Fama-French Industries: Computers Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Computers Note: Sample contains an average of 197,520 workers in 1981 and Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 47 / 93

52 Fama-French Industries: Electronic Equipment Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Electronic Equipment Note: Sample contains an average of 407,150 workers in 1981 and Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 48 / 93

53 Fama-French Industries: Agriculture Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Note: Sample contains an average of 931,380 workers in 1981 and Agriculture Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 49 / 93

54 Fama-French Industries: Insurance Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Note: Sample contains an average of 1,452,050 workers in 1981 and Insurance Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 50 / 93

55 Fama-French Industries: Trading Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Trading Note: Sample contains an average of 1,240,390 workers in 1981 and Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 51 / 93

56 Exceptions

57 Fama-French Industries: Healthcare Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Healthcare Note: Sample contains an average of 7,667,800 workers in 1981 and Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 53 / 93

58 Fama-French Industries: Banking Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Banking Note: Sample contains an average of 2,013,760 workers in 1981 and Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 54 / 93

59 Fama-French Industries: Apparel Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Apparel Note: Sample contains an average of 606,320 workers in 1981 and Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 55 / 93

60 Fama-French Industries: Hotels & Restaurants Log Change, Indv Total Wage Avg of Log Wages at Firm Indv Wage/Firm Average Percentile of Indv Total Wage Restaurants, Hotels, Motels Note: Sample contains an average of 2,610,400 workers in 1981 and Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 56 / 93

61 Subgroups: Bottom 99 pct I By Industry: HERE I By Region: HERE I By Firm Size: HERE I By Sex: HERE I By Age: HERE Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 57 / 93

62 RESULTS: TOP 1%

63 Rise in Top 1% Inequality Log Change, Indv Total Wage Percentile of Indv Total Wage Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 59 / 93

64 Rise in Top 1% Inequality: Largely Between Firms Log Change, Firm Average Wage Indv Total Wage Percentile of Indv Total Wage Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 60 / 93

65 Rise in Top 1% Inequality: Largely Between Firms Log Change, Firm Average Wage Indv Total Wage Indv Wage/Firm Average Percentile of Indv Total Wage Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 61 / 93

66 CAUTION

67 Firm Size: 20 10, 000 FTE (Top 1%) Log Change, Indv Total Wage Firm Average Wage Indv Wage/Firm Average Percentile of Indv Total Wage Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 63 / 93

68 Firm Size: 10, 000+ FTE (Top 1%) Log Change, Indv Total Wage Firm Average Wage Indv Wage/Firm Average Percentile of Indv Total Wage Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 64 / 93

69 Recap: Between- vs. Within Rise in Inequality: Fraction Within-Firm Firm Size Percentiles Income Percentiles Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 65 / 93

70 Bottom 99%: Almost All Between Firms Rise in Inequality: Fraction Within-Firm Firm Size Percentiles Income Percentiles Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 66 / 93

71 Rise in Within-Firm: Top 0.5% of Firms Rise in Inequality: Fraction Within-Firm Firm Size Percentiles Income Percentiles Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 67 / 93

72 Why Are Large Firms Different? 1. Top End Figure: Sensitivity to S&P Returns, By Employee Rank and Firm Size Regression Coefficient k Rank Within Firm log(wage) vs log(s&p 500) w/ controls, Aggregated by Geometric Mean, Winsorized at Max in Execucomp Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 68 / 93

73 Why Are Large Firms Different? 1. Top End Figure: Sensitivity to S&P Returns, By Employee Rank and Firm Size Regression Coefficient k 1k 5k Rank Within Firm log(wage) vs log(s&p 500) w/ controls, Aggregated by Geometric Mean, Winsorized at Max in Execucomp Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 69 / 93

74 Why Are Large Firms Different? 1. Top End Figure: Sensitivity to S&P Returns, By Employee Rank and Firm Size Regression Coefficient k 1k 5k 5k 10k Rank Within Firm log(wage) vs log(s&p 500) w/ controls, Aggregated by Geometric Mean, Winsorized at Max in Execucomp Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 70 / 93

75 Why Are Large Firms Different? 1. Top End Figure: Sensitivity to S&P Returns, By Employee Rank and Firm Size Regression Coefficient k 1k 5k 5k 10k 10k Rank Within Firm log(wage) vs log(s&p 500) w/ controls, Aggregated by Geometric Mean, Winsorized at Max in Execucomp Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 71 / 93

76 Why Are Large Firms Different? 2. Bottom End Figure: Change in Wage Percentiles By Firm Size 10th %ile 10th %ile Log Change in Indv Pctls Since th %ile 50th %ile 75th %ile 90th %ile Year 1000 Firm Size < 2000 Log Change in Indv Pctls Since th %ile 50th %ile 75th %ile 90th %ile Year 10,000 Firm Size Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 72 / 93

77 ) Major Change in Firm Size Pay Relation Number of Employees (Thousands) Percentile of Indv Total Wage Median of Firm Size, 20 Firm Size Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 73 / 93

78 What is the Role of CEO Pay in Rising Inequality? As for wages and salaries... all the big gains are going to a tiny group of individuals holding strategic positions in corporate suites. Paul Krugman (NY Times, 02/23/2015) The primary reason for increased income inequality in recent decades is the rise of the supermanager. Piketty (2013, p. 315) I Policy: Dodd-Frank act (Section 953(b)): companies to report the ratio of top executives compensation to average wage in the firm. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 74 / 93

79 Rise in Inequality: Baseline Log Change, Indv Total Wage Percentile of Indv Total Wage Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 75 / 93

80 Rise in Inequality Without Top Executives Log Change, Indv Total Wage Indv Total Wage (Non Top 1 Employees) Percentile of Indv Total Wage Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 76 / 93

81 Rise in Inequality Without Top Executives Log Change, Indv Total Wage Indv Total Wage (Non Top 1 Employees) Indv Total Wage (Non Top 5 Employees) Percentile of Indv Total Wage Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 77 / 93

82 Rise in Inequality Without Top Execs: FTE Log Change, Indv Total Wage Indv Total Wage (Non Top 1 Employees) Indv Total Wage (Non Top 5 Employees) Percentile of Indv Total Wage Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 78 / 93

83 Top 1% Inequality Without Top Executives: Baseline Log Change, Indv Total Wage Indv Total Wage (Non Top 1 Employees) Indv Total Wage (Non Top 5 Employees) Percentile of Indv Total Wage Note: Excluding top 5 individuals reduces the sample size from 76,251 to 73,620 in 1982 ( 3.45%) and from 119,155 to 115,602 in 2012 ( 2.97%). Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 79 / 93

84 Top 1% Inequality Without Top Executives: FTE Log Change, Indv Total Wage Indv Total Wage (Non Top 1 Employees) Indv Total Wage (Non Top 5 Employees) Percentile of Indv Total Wage Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 80 / 93

85 Why Don t Executives Matter (Much)? I US Wages and Salaries: $6.9 Trillion I Wage income share of top 1 percent: 12% (Guvenen, Kaplan, and Song (2014)) 12% of $6.9 Tr = $828 Billion I Average annual compensation of S&P500 CEOs: $22 million Total income: $22 million 500 = $11 Billion I $11B Large firm CEOs account for: $828B of top 1 percent. = 1.3% of the total compensation I Bottom line: Top executives control too small a share of the top incomes to make a dent. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 81 / 93

86 Subgroups: Top 1 pct I By Industry: HERE I By Region: HERE I By Firm Size: HERE I By Sex: HERE I By Age: HERE Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 82 / 93

87 A More Formal Econometric Approach

88 What We Have Done So Far I A simple decomposition: w ij t = w j t + h w ij t w j t var i (w ij t )= var j(w j t {z } ) + Between-firm dispersion I Our main conclusion: i JX P j var i (w ij t i 2 j). {z } Within-firm jdispersion j=1 large increase in between-firm dispersion little change in within-firm dispersion, except at the top end for very large firms I Q: Can we go deeper into between and within-firm components? Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 84 / 93

89 AKM+ Decomposition I Consider this model for wages: w ij t = {z} i + j {z} Worker FE Firm FE I Estimating (1) from US population: 150 million worker FEs and 6 million firm FEs. + Xt i {z} + " i t (1) Time var. char. I Set X i t 0 for a moment. Average firm wage: w j t = j + j I Key decomposition: var i (w ij t )= var j( j )+var j ( j )+cov( i, j ) {z } Between-firm dispersion + X P j (var i ( i i 2 j)+var i (" i t i 2 j)) j {z } Within-firm dispersion Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 85 / 93

90 AKM Decomposition, Cont d Change in: w ij t = i + j + Xt i + " i t Baseline Drop mega firms Drop large firms Between-Firm varj( j ) Components + varj( j ) of Variance + 2 cov( i, j ) cov( i + j, X i b) = Between-firm var Note: Mega firms: 10,000+ male employees. Large firms: 1,000+ employees. Within-Firm vari( i + X i b i 2 j) Components + vari(" i t i 2 j) of Variance = Within-firm var Total in var(w ij t ) Change in: = i + j + Xt i + " i t Baseline Drop mega firms Drop large firms Between-Firm var j ( j ) Components + var j ( j ) of Variance + 2 cov( i, j ) w ij t + 2 cov( i + j, X i b) = Between-firm var Within-Firm var i ( i + X i b i 2 j) Components + var i (" i t i 2 j) of Variance Song, Price, Guvenen, Bloom, von Wachter = Within-firmFirming var. Up Inequality / 93

91 Increasing Sorting Joint Worker and Firm Fixed Effect Distribution Interval 1: Proportion of Observations Firm Fixed Effect Decile Worker Effect Decile 1 Worker Effect Decile 2 Worker Effect Decile 3 Worker Effect Decile 4 Worker Effect Decile 5 Worker Effect Decile 6 Worker Effect Decile 7 Worker Effect Decile 8 Worker Effect Decile 9 Worker Effect Decile 10 Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 87 / 93

92 Increasing Sorting Joint Worker and Firm Fixed Effect Distribution Interval 5: Proportion of Observations Firm Fixed Effect Decile Worker Effect Decile 1 Worker Effect Decile 2 Worker Effect Decile 3 Worker Effect Decile 4 Worker Effect Decile 5 Worker Effect Decile 6 Worker Effect Decile 7 Worker Effect Decile 8 Worker Effect Decile 9 Worker Effect Decile 10 Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 88 / 93

93 Increasing Sorting.01 Change in Joint Worker and Firm Fixed Effect Distribution from Interval 1 to 5 Proportion of Observations Firm Fixed Effect Decile Worker Effect Decile 1 Worker Effect Decile 2 Worker Effect Decile 3 Worker Effect Decile 4 Worker Effect Decile 5 Worker Effect Decile 6 Worker Effect Decile 7 Worker Effect Decile 8 Worker Effect Decile 9 Worker Effect Decile 10 Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 89 / 93

94 Related Evidence I (US, ) Rise in between-establishment dispersion of average wage in manufacturing tracks rise in wage dispersion across workers (Dunne et al (2004)). I (US: ) Rise in between-establishment inequality is 2/3 of rise in overall wage inequality (Barth et al (2014)). I Very similar results for UK ( ), Faggio, et al (2007) Germany ( ), Card et al (2013) Brazil ( ), Helpman et al (2015) Sweden ( ), Håkanson et al (2015)) I So, whatever the driving force(s) are, they seem global. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 90 / 93

95 Further Thoughts I Why are worker FEs getting (i) more dispersed across firms, and (ii) more systematically related to firm FEs (sorting)? I In our estimation, correlation between j and j goes from 0.12 up to 0.52 (by 0.40) over the period. Hakanson et al (2015): increasing sorting by cognitive and noncognitive skills in Sweden due to stronger complementarities between worker skills and technology. Handwerker and Spletzer (2015): Increasing occupational segregation in the US. Increased domestic outsourcing: Dube and Kaplan (2010), Berlingieri (2014), and Goldschmidt and Schmieder (2015) Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 91 / 93

96 Conclusions I Rising in income inequality is almost entirely between firms. Within-firm inequality flat. True for very fine industry groups, across regions, and across firm size categories. Only exception: Very large firms. Within dispersion increased both at very top end and bottom end. I Rise in between inequality, not due to firm effects, but due to rising dispersion of worker FEs and increased sorting. I Evidence points to major changes in firms organization. Song, Price, Guvenen, Bloom, von Wachter Firming Up Inequality 92 / 93

97

Firming Up Inequality

Firming Up Inequality Firming Up Inequality Jae Song Social Security Administration Fatih Guvenen Minnesota, FRB Mpls, NBER David Price Stanford Nicholas Bloom Stanford and NBER Till von Wachter UCLA and NBER February 5, 2016

More information

Table of contents. Part I. Gender equality: The economic case, social norms, and public policies

Table of contents. Part I. Gender equality: The economic case, social norms, and public policies Table of contents Executive summary... 13 Part I Gender equality: The economic case, social norms, and public policies Chapter 1. The economic case for gender equality... 23 Chapter 2. Why social institutions

More information

Lecture II: Difference in Difference and Regression Discontinuity

Lecture II: Difference in Difference and Regression Discontinuity Review Lecture II: Difference in Difference and Regression Discontinuity it From Lecture I Causality is difficult to Show from cross sectional observational studies What caused what? X caused Y, Y caused

More information

Economics of Cannabis and Demand for Farm Labor. California Agriculture and Farm Labor 2017 April 14, 2017

Economics of Cannabis and Demand for Farm Labor. California Agriculture and Farm Labor 2017 April 14, 2017 Economics of Cannabis and Demand for Farm Labor California Agriculture and Farm Labor 2017 April 14, 2017 Daniel A. Sumner and William A. Matthews Director University of California Agricultural Issues

More information

Multiple Linear Regression (Dummy Variable Treatment) CIVL 7012/8012

Multiple Linear Regression (Dummy Variable Treatment) CIVL 7012/8012 Multiple Linear Regression (Dummy Variable Treatment) CIVL 7012/8012 2 In Today s Class Recap Single dummy variable Multiple dummy variables Ordinal dummy variables Dummy-dummy interaction Dummy-continuous/discrete

More information

ECON Introductory Econometrics. Seminar 1. Stock and Watson Chapter 2 & 3

ECON Introductory Econometrics. Seminar 1. Stock and Watson Chapter 2 & 3 ECON4150 - Introductory Econometrics Seminar 1 Stock and Watson Chapter 2 & 3 Empirical exercise E3.1: Data 2 In this exercise we use the data set CPS92_12.dta Each month the Bureau of Labor Statistics

More information

Supply and Demand Analysis - An Introduction. Nicholas W. Papageorge Johns Hopkins University September 7, 2018

Supply and Demand Analysis - An Introduction. Nicholas W. Papageorge Johns Hopkins University September 7, 2018 - An Introduction Nicholas W. Papageorge Johns Hopkins University September 7, 2018 Introductions Who am I? Nicholas Papageorge. Asst. Prof. in the Economics Department. Undergrad at U. of Chicago, Ph.D.

More information

MAKING AN IMPACT ON GENDER EQUALITY LET S UNCOVER THE ISSUES. LET S CREATE SOLUTIONS.

MAKING AN IMPACT ON GENDER EQUALITY LET S UNCOVER THE ISSUES. LET S CREATE SOLUTIONS. MAKING AN IMPACT ON GENDER EQUALITY LET S UNCOVER THE ISSUES. LET S CREATE SOLUTIONS. BIG PICTURE A global focus COMMITMENT FOR CHANGE Coming together for good PINPOINT ON FOODSERVICE What s meaningful

More information

The European Commission s science and knowledge service

The European Commission s science and knowledge service The European Commission s science and knowledge service Joint Research Centre ICT use, innovation and employment growth in Gazelles 7 th IRIMA Workshop Innovation, Employment, Firm Growth and Job Creation

More information

Manufacturing Sector Profile for the Shreveport RLMA Parishes. Employment and Wage Trends 4 th Quarter 2015 for the Manufacturing Sector by Parish

Manufacturing Sector Profile for the Shreveport RLMA Parishes. Employment and Wage Trends 4 th Quarter 2015 for the Manufacturing Sector by Parish Manufacturing Sector Profile for the Shreveport RLMA Parishes The Labor Market information (LMI) division of Research and Statistics helps provide information on various sectors in the regional economy.

More information

Diagnostic Medical Sonography Program Report For Greater South Bay and Peninsula Region (Santa Clara and San Mateo Counties)

Diagnostic Medical Sonography Program Report For Greater South Bay and Peninsula Region (Santa Clara and San Mateo Counties) 12345 El Monte Road Los Altos Hills, California 94022 650.949.7777 Diagnostic Medical Sonography Program Report For Greater South Bay and Peninsula Region (Santa Clara and San Mateo Counties) November

More information

Health and development during the 20th century

Health and development during the 20th century Health and development during the 20th century Daniel Gallardo Albarrán University of Groningen Groningen Growth and Development Center 25th Anniversary Conference 29-06-2017 Daniel Gallardo Albarrán Health

More information

The Growing Importance of Social Skills in the Labor Market

The Growing Importance of Social Skills in the Labor Market The Growing Importance of Social Skills in the Labor Market David Deming Harvard University and NBER December 2015 SBTC and Job Polarization Source: Acemoglu and Autor (2011) Slowdown in demand for cognitive

More information

Estimating the Economic Impact of Disease on a Local Economy The Case of Diabetes in the Lower Rio Grande Valley of Texas

Estimating the Economic Impact of Disease on a Local Economy The Case of Diabetes in the Lower Rio Grande Valley of Texas Estimating the Economic Impact of Disease on a Local Economy The Case of Diabetes in the Lower Rio Grande Valley of Texas Joselito K. Estrada Department of Business Administration The University of Texas

More information

IMPACT OF THE PRIMARY MARKET ON ECONOMIC GROWTH, PRODUCTIVITY AND ENTREPRENEURSHIP: A CROSS COUNTRY ANALYSIS

IMPACT OF THE PRIMARY MARKET ON ECONOMIC GROWTH, PRODUCTIVITY AND ENTREPRENEURSHIP: A CROSS COUNTRY ANALYSIS IMPACT OF THE PRIMARY MARKET ON ECONOMIC GROWTH, PRODUCTIVITY AND ENTREPRENEURSHIP: A CROSS COUNTRY ANALYSIS A THESIS SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE FELLOW PROGRAMME IN MANAGEMENT

More information

Cancer survivorship and labor market attachments: Evidence from MEPS data

Cancer survivorship and labor market attachments: Evidence from MEPS data Cancer survivorship and labor market attachments: Evidence from 2008-2014 MEPS data University of Memphis, Department of Economics January 7, 2018 Presentation outline Motivation and previous literature

More information

Low Wage, Contingent and Temporary Workers How can TWH serve them? Laura Welch, MD CPWR: Center for Construction Research and Training AFL-CIO

Low Wage, Contingent and Temporary Workers How can TWH serve them? Laura Welch, MD CPWR: Center for Construction Research and Training AFL-CIO Low Wage, Contingent and Temporary Workers How can TWH serve them? Laura Welch, MD CPWR: Center for Construction Research and Training AFL-CIO 39 million workers in the US are low wage workers (

More information

After simple testing that only takes minutes people with elevated test results are then recommended to see their physicians for follow-up.

After simple testing that only takes minutes people with elevated test results are then recommended to see their physicians for follow-up. New Medical Device Company Addresses Two Very High Demand Markets with its Proprietary Products. Trader Tracks likes this company as they provide reasonably priced equipment and testing while medical costs

More information

MULTIPLE REGRESSION OF CPS DATA

MULTIPLE REGRESSION OF CPS DATA MULTIPLE REGRESSION OF CPS DATA A further inspection of the relationship between hourly wages and education level can show whether other factors, such as gender and work experience, influence wages. Linear

More information

Commercial Redevelopment Study

Commercial Redevelopment Study Commercial Redevelopment Study Impact on Sanibel of Immediate Off-Island Development January 22, 2013 Commercial Redevelopment Study To date, Council has approved a vision statement and identified Sanibel

More information

NYS Paid Family Leave (PFL) Q & A 5/10/18

NYS Paid Family Leave (PFL) Q & A 5/10/18 NYS Paid Family Leave (PFL) Q & A 5/10/18 Question 1: Question 2: What is NYS Paid Family Leave (PFL)? NYS Paid Family Leave will provide eligible workers with wage replacement during time away from work

More information

Empirical Analysis of the Impact of Income on Dietary Calorie Intake in Nigeria. Babatunde, R. O

Empirical Analysis of the Impact of Income on Dietary Calorie Intake in Nigeria. Babatunde, R. O Empirical Analysis of the Impact of Income on Dietary Calorie Intake in Nigeria. Babatunde, R. O Department of Agricultural Economics and Social Sciences (490b), University of Hohenheim, D-70593 Stuttgart,

More information

VARIATIONS IN PRICES AND REIMBURSEMENT OF MEDICINES IN THE EUROPEAN UNION

VARIATIONS IN PRICES AND REIMBURSEMENT OF MEDICINES IN THE EUROPEAN UNION VARIATIONS IN PRICES AND REIMBURSEMENT OF MEDICINES IN THE EUROPEAN UNION A snapshot of data on amoxicillin, budesonide, losartan and salbutamol in eight European Union Member States Report INTRODUCTION

More information

The Effects of Gender Inequality. identify as women and men. On August 26, 1920, American women were granted the right to

The Effects of Gender Inequality. identify as women and men. On August 26, 1920, American women were granted the right to The Effects of Gender Inequality Gender inequality is defined as the gap in status, power, and prestige between people who identify as women and men. On August 26, 1920, American women were granted the

More information

The Dynamic Effects of Obesity on the Wages of Young Workers

The Dynamic Effects of Obesity on the Wages of Young Workers The Dynamic Effects of Obesity on the Wages of Young Workers Joshua C. Pinkston University of Louisville June, 2015 Contributions 1. Focus on more recent cohort, NLSY97. Obesity

More information

5,000. Number of cigarettes 4,000 3,000 2,000 1,000

5,000. Number of cigarettes 4,000 3,000 2,000 1,000 A HISTORY of TOBACCO CONTROL EFFORTS UNDERSTANDING the ROLE of TOBACCO in the NEW WORLD Tobacco use originated in the Americas and was exported worldwide. Once tobacco became a popular crop throughout

More information

THE IMPACT of. icare BENEFITS HPV VACCINATION PILOT VIETNAM 2016

THE IMPACT of. icare BENEFITS HPV VACCINATION PILOT VIETNAM 2016 THE IMPACT of icare BENEFITS HPV VACCINATION PILOT VIETNAM 2016 EXECUTIVE SUMMARY The formal workforce in Asian emerging countries more and more often can enjoy access to free basic healthcare services.

More information

How Will Tobacco Farmers Respond to the Quota Buyout? Findings from a Survey of North Carolina Tobacco Farmers

How Will Tobacco Farmers Respond to the Quota Buyout? Findings from a Survey of North Carolina Tobacco Farmers How Will Tobacco Farmers Respond to the Quota Buyout? Findings from a Survey of North Carolina Tobacco Farmers Presented by Robert H. Beach 1 ; David Richmond 2 ; W.D. Austin 1 ; and Alison Snow Jones

More information

Price-based measures to reduce alcohol consumption

Price-based measures to reduce alcohol consumption Price-based measures to reduce alcohol consumption Andrew Leicester (with Rachel Griffith and Martin O Connell) Health Economics Research Unit, University of Aberdeen 12 th March 2013 Introduction Governments

More information

Eaze Insights: The Modern Marijuana Consumer. Study: The modern marijuana consumer

Eaze Insights: The Modern Marijuana Consumer. Study: The modern marijuana consumer Eaze Insights: The Modern Marijuana Consumer A study of over 10,000 California cannabis consumers exploring product preference and emerging wellness trends. Study: The modern marijuana consumer Modern

More information

Diagnostic Medical Sonography

Diagnostic Medical Sonography Diagnostic Medical Sonography Program Report For Greater South Bay and Peninsula Region (Santa Clara and San Mateo Counties) September 2016 12345 El Monte Road Los Altos Hills, California 94022 650.949.7777

More information

FP009: Energy Savings Insurance for private energy efficiencyinvestments by Small and Medium-Sized Enterprises. El Salvador IDB B.

FP009: Energy Savings Insurance for private energy efficiencyinvestments by Small and Medium-Sized Enterprises. El Salvador IDB B. FP009: Energy Savings Insurance for private energy efficiencyinvestments by Small and Medium-Sized Enterprises El Salvador IDB B.13/23 Annex 13 Gender Context Energy Savings Insurance (ESI) for private

More information

Understanding Unsuccessful Work Attempts (UWA)

Understanding Unsuccessful Work Attempts (UWA) Understanding Unsuccessful Work Attempts (UWA) January 2016 Introduction Social Security recognizes that in some cases a beneficiary may try to return to work at a substantial level, but may only be successful

More information

women.nyc Fast Facts

women.nyc Fast Facts women.nyc Fast Facts Make A #NYCPowerMove. WHY NYC IS THE BEST CITY IN THE WORLD FOR WOMEN: NYC has more women CEOs than any other city in the country. NYC has the smallest wage gap in the country. NYC

More information

A Research Study: The Measurable Economic Impact of Certain Smoke-Free Ordinances in Minnesota

A Research Study: The Measurable Economic Impact of Certain Smoke-Free Ordinances in Minnesota A Research Study: The Measurable Economic Impact of Certain Smoke-Free Ordinances in Minnesota Prepared for the Minnesota Institute of Public Health by Dan Stoltz and Michael Bromelkamp February 23, 2007

More information

1in 5 Australians has some form of arthritis or osteoporosis. It can affect anybody

1in 5 Australians has some form of arthritis or osteoporosis. It can affect anybody Workplace Giving. 1in 5 Australians has some form of arthritis or osteoporosis. It can affect anybody This represents approx. 1.5 Million NSW residents and about 870,000 people with arthritis of working

More information

The impact of workplace smoking bans: results from a national survey

The impact of workplace smoking bans: results from a national survey 272 Center for Economics Research, Research Triangle Institute, 3040 Cornwallis Rd, Research Triangle Park, North Carolina, USA M C Farrelly A E S Sfekas Department of Economics, University of Maryland,

More information

MANAGED DENTAL CARE: PRACTICE OF DENTISTRY. Overview of Benefit Issues. Changes in the Delivery of Dental Benefits FEE-FOR-SERVICE

MANAGED DENTAL CARE: PRACTICE OF DENTISTRY. Overview of Benefit Issues. Changes in the Delivery of Dental Benefits FEE-FOR-SERVICE Managed Care: Dentistry June 25, 23 PRACTICE OF DENTISTRY (BUSINESS ASPECT) VS. Overview of Benefit Issues PRACTICING DENTISTRY (PROFESSIONAL ASPECT) Changes in the Delivery of Dental Benefits Indemnity

More information

BRINGING OUTSIDERS IN. Foreign Workers and Women in Elite Jobs in Corporate Japan

BRINGING OUTSIDERS IN. Foreign Workers and Women in Elite Jobs in Corporate Japan BRINGING OUTSIDERS IN Foreign Workers and Women in Elite Jobs in Corporate Japan Hilary J. Holbrow, PhD June 18, 2018 OUTSIDERS IN CORPORATE JAPAN: PAST AND PRESENT c. 1985 Women were: 29% of Regular Employees

More information

Influenza vaccination coverage for staff of acute care facilities British Columbia, 2017/18

Influenza vaccination coverage for staff of acute care facilities British Columbia, 2017/18 Influenza vaccination coverage for staff of acute care facilities British Columbia, 2017/18 Background Immunization coverage assessment is an important part of a quality immunization program and serves

More information

The Effect of the Smoke- Free Illinois Act on Casino Admissions and Revenue

The Effect of the Smoke- Free Illinois Act on Casino Admissions and Revenue The Effect of the Smoke- Free Illinois Act on Casino Admissions and Revenue Frank J. Chaloupka, University of Illinois at Chicago Society for Research on Nicotine & Tobacco Paper Session 10, Florence,

More information

Alberta Motor Transport Association Industries

Alberta Motor Transport Association Industries OCCUPATIONAL INJURIES AND DISEASES IN ALBERTA Lost-Time Claims, Disabling Injury Claims and Claim Rates Alberta Motor Transport Association Industries 2003 to 2007 Summer 2008 TABLE OF CONTENTS Highlights...2

More information

In Health Matters, Place Matters - The Health Opportunity Index (HOI) Virginia Department of Health Office of Health Equity

In Health Matters, Place Matters - The Health Opportunity Index (HOI) Virginia Department of Health Office of Health Equity In Health Matters, Place Matters - The Health Opportunity Index (HOI) Virginia Department of Health Office of Health Equity 1 Identifying the Problem America s Health Rankings United Health Foundation

More information

TRACER STUDIES ASSESSMENTS AND EVALUATIONS

TRACER STUDIES ASSESSMENTS AND EVALUATIONS TRACER STUDIES ASSESSMENTS AND EVALUATIONS 1 INTRODUCTION This note introduces the reader to tracer studies. For the Let s Work initiative, tracer studies are proposed to track and record or evaluate the

More information

Sumitomo Pharmaceuticals reaches a basic agreement to merge with Dainippon Pharmaceutical

Sumitomo Pharmaceuticals reaches a basic agreement to merge with Dainippon Pharmaceutical For immediate release November 25, 2004 Sumitomo Pharmaceuticals reaches a basic agreement to merge with Dainippon Pharmaceutical Sumitomo Chemical Co., Ltd. announced today that its subsidiary, Sumitomo

More information

American Sign Language (ASL) Interpreters

American Sign Language (ASL) Interpreters American Sign Language (ASL) Interpreters October 2017 Prepared by the Los Angeles/Orange County Center of Excellence for Labor Market Research Program Recommendation This report was compiled by the Los

More information

DENTAL BENEFITS: A BRIDGE TO ORAL HEALTH & WELLNESS

DENTAL BENEFITS: A BRIDGE TO ORAL HEALTH & WELLNESS R GUARDIAN WORKPLACE BENEFITS STUDY SM 5TH ANNUAL DENTAL BENEFITS: A BRIDGE TO ORAL HEALTH & WELLNESS Dental benefits utilization, especially for preventive services, contributes to better oral health

More information

Practice for Exam 1 Econ B2000, MA Econometrics Kevin R Foster, CCNY Fall 2011

Practice for Exam 1 Econ B2000, MA Econometrics Kevin R Foster, CCNY Fall 2011 Practice for Exam 1 Econ B2000, MA Econometrics Kevin R Foster, CCNY Fall 2011 Not all of these questions are strictly relevant; some might require a bit of knowledge that we haven't covered this year,

More information

Large-Scale Farming and Gender Equality in Rural Areas: The Case of Ukraine Nataliia Kutsmus Taras Gagalyuk

Large-Scale Farming and Gender Equality in Rural Areas: The Case of Ukraine Nataliia Kutsmus Taras Gagalyuk Large-Scale Farming and Gender Equality in Rural Areas: The Case of Ukraine Nataliia Kutsmus Taras Gagalyuk IAMO Forum 2016 Rural Labor in Transition: Structural Change, Migration and Governance 22-24

More information

Prentice Hall. A Survey of Mathematics with Applications, 7th Edition Mississippi Mathematics Framework 2007 Revised,

Prentice Hall. A Survey of Mathematics with Applications, 7th Edition Mississippi Mathematics Framework 2007 Revised, Prentice Hall A Survey of Mathematics with Applications, 7th Edition 2005 C O R R E L A T E D T O Mississippi Mathematics Framework 2007 Revised, Survey of Mathematical Topics NUMBER AND OPERATIONS Competencies

More information

Economic Emergency Program Impact of Poultry and Egg Production Losses and Poultry Processing Losses Due to the Avian Influenza

Economic Emergency Program Impact of Poultry and Egg Production Losses and Poultry Processing Losses Due to the Avian Influenza Economic Emergency Program Impact of Poultry and Egg Production Losses and Poultry Processing Losses Due to the Avian Influenza Brigid Tuck May 2015-1- About The EDA Center The EDA Center at the University

More information

This is copyrighted material. Women and Men in U.S. Corporate Leadership. Same Workplace, Different Realities?

This is copyrighted material. Women and Men in U.S. Corporate Leadership. Same Workplace, Different Realities? Women and Men in U.S. Corporate Leadership Same Workplace, Different Realities? INTRODUCTION Although women occupy one-half (50.5 percent) of managerial and professional specialty positions in the United

More information

MANAGEMENT. MGMT 0021 THE MANAGEMENT PROCESS 3 cr. MGMT 0022 FINANCIAL ACCOUNTING 3 cr. MGMT 0023 MANAGERIAL ACCOUNTING 3 cr.

MANAGEMENT. MGMT 0021 THE MANAGEMENT PROCESS 3 cr. MGMT 0022 FINANCIAL ACCOUNTING 3 cr. MGMT 0023 MANAGERIAL ACCOUNTING 3 cr. MANAGEMENT MGMT 0021 THE MANAGEMENT PROCESS 3 cr. An introduction designed to emphasize the basic principles, practices, and terminology essential to the understanding of contemporary business and its

More information

Gender inequality and growth in Europe. Stephan Klasen, Anna Minasyan Universität Göttingen Intereconomics, Brussels, November 3, 2016

Gender inequality and growth in Europe. Stephan Klasen, Anna Minasyan Universität Göttingen Intereconomics, Brussels, November 3, 2016 Gender inequality and growth in Europe Stephan Klasen, Anna Minasyan Universität Göttingen Intereconomics, Brussels, November 3, 2016 Introduction Gender inequality generally declining in Europe (compared

More information

Florida s New Economic Reality: The State of the State

Florida s New Economic Reality: The State of the State Florida s New Economic Reality: The State of the State FLORIDA PHILANTHROPIC NETWORK Dr. Gary Jackson Director, Regional Economic Research Institute Florida Gulf Coast University February 11, 2010 www.fgcu.edu/cob0/reri

More information

Dainippon Pharmaceutical and Sumitomo Pharmaceuticals Finalize Merger Agreement

Dainippon Pharmaceutical and Sumitomo Pharmaceuticals Finalize Merger Agreement For immediate release April 28, 2005 Dainippon Pharmaceutical and Sumitomo Pharmaceuticals Finalize Merger Agreement Dainippon Pharmaceutical Co., Ltd. Sumitomo Pharmaceuticals Co., Ltd. Dainippon Pharmaceutical

More information

full file at

full file at CHAPTER 1 TEST ITEMS TRUE-FALSE 1. Work contributes to an employee s self-esteem and emotional security. (T, p. 3) 2. If the methods and findings of I-O psychology are used improperly by management or

More information

ECON Microeconomics III

ECON Microeconomics III ECON 7130 - Microeconomics III Spring 2016 Notes for Lecture #5 Today: Difference-in-Differences (DD) Estimators Difference-in-Difference-in-Differences (DDD) Estimators (Triple Difference) Difference-in-Difference

More information

THE ENVIRONMENTAL HEALTH AND SAFETY

THE ENVIRONMENTAL HEALTH AND SAFETY 1 THE ENVIRONMENTAL HEALTH AND SAFETY OUTSOURCING GUIDE HOW EHS OUTSOURCING CAN SAVE YOUR COMPANY TIME AND MONEY TABLE OF CONTENTS 1. WHAT IS SAFETY OUTSOURCING? 2. WHY OUTSOURCE SAFETY? 3. BENEFITS OF

More information

Votes, Vetoes & PTAs. Edward D. Mansfield & Helen V. Milner

Votes, Vetoes & PTAs. Edward D. Mansfield & Helen V. Milner Votes, Vetoes & PTAs Edward D. Mansfield & Helen V. Milner Why Sign PTAs? Close to 400 PTAs now, but could be over 20,000 if all countries joined Some join many, some join few. Only Mongolia is not in

More information

Those Who Tan and Those Who Don t: A Natural Experiment of Employment Discrimination

Those Who Tan and Those Who Don t: A Natural Experiment of Employment Discrimination Those Who Tan and Those Who Don t: A Natural Experiment of Employment Discrimination Ronen Avraham, Tamar Kricheli Katz, Shay Lavie, Haggai Porat, Tali Regev Abstract: Are Black workers discriminated against

More information

Regression Discontinuity Design (RDD)

Regression Discontinuity Design (RDD) Regression Discontinuity Design (RDD) Caroline Flammer Ivey Business School 2015 SMS Denver Conference October 4, 2015 The Identification Challenge Does X cause Y? Tempting to regress Y on X Y = a + b

More information

Tobacco Health Cost in Egypt

Tobacco Health Cost in Egypt 1.Introduction 1.1 Overview Interest in the health cost of smoking originates from the desire to identify the economic burden inflicted by smoking on a society. This burden consists of medical costs plus

More information

Why the Increase In Obesity

Why the Increase In Obesity Obesity From an Economist s Perspective Eric Finkelstein, PhD, MHA RTI INTERNATIONAL The Economics of Obesity (outline) Why the Increase in Obesity Rates Adverse Health Consequences Why do (or should)

More information

Technical Information

Technical Information CAPT WEBINAR January 11, 2017 Providing Effective Technical Assistance Working with New Hampshire Businesses and Other Workplaces, Part 1 Dodi Swope, T/TA Specialist, Northeast Resource Team, CAPT Maria

More information

The Economics of Tobacco and Tobacco Taxation in Bangladesh: Abul Barkat et.al

The Economics of Tobacco and Tobacco Taxation in Bangladesh: Abul Barkat et.al EXECUTIVE SUMMARY 01. Increase price of cigarette and Bidi by 33% (include this in the upcoming FY 2008-09 National Budget). This will decrease use rate by 14% and 9% in short and long-run respectively;

More information

I N C R E A S I N G C I G A R E T T E E X C I S E T A X I S BAD POLICY FOR OREGON

I N C R E A S I N G C I G A R E T T E E X C I S E T A X I S BAD POLICY FOR OREGON 7 I N C R E A S I N G C I G A R E T T E E X C I S E T A X I S BAD POLICY FOR OREGON THE TOP REASONS WHY A HIGHER CIGARETTE TAX IS BAD FOR OREGON ONE TWO THREE FOUR INCREASING THE STATE CIGARETTE TAX WILL

More information

THE ECONOMICS OF TOBACCO AND TOBACCO TAXATION IN BANGLADESH

THE ECONOMICS OF TOBACCO AND TOBACCO TAXATION IN BANGLADESH THE ECONOMICS OF TOBACCO AND TOBACCO TAXATION IN BANGLADESH Abul Barkat, PhD Professor of Economics, University of Dhaka & Chief Advisor (Hon.), HDRC Email: info@hdrc-bd.com Advocacy for Tobacco Taxation

More information

RECOMMENDED CITATION: Pew Research Center, December, 2014, Perceptions of Job News Trend Upward

RECOMMENDED CITATION: Pew Research Center, December, 2014, Perceptions of Job News Trend Upward NUMBERS, FACTS AND TRENDS SHAPING THE WORLD FOR RELEASE DECEMBER 16, 2014 FOR FURTHER INFORMATION ON THIS REPORT: Carroll Doherty, Director of Political Research Seth Motel, Research Analyst Rachel Weisel,

More information

2 nd and 3 rd Order Impacts of Community Mitigation Strategies

2 nd and 3 rd Order Impacts of Community Mitigation Strategies 2 nd and 3 rd Order Impacts of Community Mitigation Strategies Institute of Medicine October 26, 2006 Carter Mecher, MD Department of Veterans Affairs Pneumonia and Influenza Death Rates per 100,000 Infants,

More information

A Multilevel Approach to Model Weight Gain: Evidence from NLSY79 Panel

A Multilevel Approach to Model Weight Gain: Evidence from NLSY79 Panel A Multilevel Approach to Model Weight Gain: Evidence from NLSY79 Panel Bidisha Mandal Washington State University bmandal@wsu.edu Obesity Trends* Among U.S. Adults BRFSS, 1985 (*BMI 30, or ~ 30 lbs. overweight

More information

Getting to know your variables. Jane E. Miller, PhD

Getting to know your variables. Jane E. Miller, PhD Getting to know your variables Jane E. Miller, PhD Why is it important to get to know your variables? Each variable measures A specific concept Numeric values have particular meanings that differ depending

More information

HILLENBRAND INDUSTRIES INC

HILLENBRAND INDUSTRIES INC HILLENBRAND INDUSTRIES INC FORM 8-K (Unscheduled Material Events) Filed 2/17/2004 For Period Ending 2/13/2004 Address 700 STATE ROUTE 46 E BATESVILLE, Indiana 47006-8835 Telephone 812-934-7000 CIK 0000047518

More information

Lecture II: Difference in Difference. Causality is difficult to Show from cross

Lecture II: Difference in Difference. Causality is difficult to Show from cross Review Lecture II: Regression Discontinuity and Difference in Difference From Lecture I Causality is difficult to Show from cross sectional observational studies What caused what? X caused Y, Y caused

More information

Nutrition and Food. September 2014 Needs Assessment. Nutrition and Food Needs Assessment Page 1

Nutrition and Food. September 2014 Needs Assessment. Nutrition and Food Needs Assessment Page 1 Nutrition and Food September 2014 Needs Assessment Prepared by Danielle Pearson Date: September 8, 2014 Nutrition and Food Nutrition and Food Needs Assessment Page 1 Scope Data compiled in this report

More information

Chapter Three in-class Exercises. MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.

Chapter Three in-class Exercises. MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Name Chapter Three in-class Exercises MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) The table below lists the populations, in thousands, of several

More information

Professional and Business Services

Professional and Business Services Professional and Business Services 1 Halton at a Glance Population: 501,669 Employment Land Supply: 5,601 ha (13,862 ac existing & designated lands) Labour Force: 310,906 Businesses: 38,109 Employment:

More information

Respond to the following questions for all household members each adult and child. A separate form should be included for each household member.

Respond to the following questions for all household members each adult and child. A separate form should be included for each household member. HMIS Data Collection Template for Project ENTRY CoC Program This form can be used by all CoC-funded project types: Prevention, Street Outreach, Safe Haven, Transitional Housing, Rapid Re-housing, Permanent

More information

THE DRINKS MARKET PERFORMANCE. Prepared for the Drinks Industry Group of Ireland By Anthony Foley Dublin City University Business School

THE DRINKS MARKET PERFORMANCE. Prepared for the Drinks Industry Group of Ireland By Anthony Foley Dublin City University Business School THE DRINKS MARKET PERFORMANCE 2017 Prepared for the Drinks Industry Group of Ireland By Anthony Foley Dublin City University Business School Foreword by DIGI The Drinks Industry Group of Ireland (DIGI)

More information

November 30, Dear Mr. Sprague: Re: Alberta Dental Fees

November 30, Dear Mr. Sprague: Re: Alberta Dental Fees November 30, 2015 Mr. Bob Sprague, B.Sc., Pharmacy, MBA Director, Pharmaceuticals and Supplementary Health Benefits Branch Alberta Health Professional Services & Health Benefits Division PO Box 1360 Stn

More information

San Mateo County Real Personal Income Bureau of Economic Analysis

San Mateo County Real Personal Income Bureau of Economic Analysis San Mateo County Real Personal Income Bureau of Economic Analysis 2016 Update Produced by Marin Economic Consulting April 1, 2018 Jon Haveman, Principal 415-336-5705 or Jon@MarinEconomicConsulting.com

More information

Gender in EP work. Jeni Klugman (PRMGE Director) Elisa Gamberoni (PRMGE Economist) EP Bootcamp course, January 11, 2012

Gender in EP work. Jeni Klugman (PRMGE Director) Elisa Gamberoni (PRMGE Economist) EP Bootcamp course, January 11, 2012 Gender in EP work Jeni Klugman (PRMGE Director) Elisa Gamberoni (PRMGE Economist) EP Bootcamp course, January 11, 2012 Outline Why gender in EP work and how? Towards gender informed diagnostics and policy

More information

full file at

full file at Chapter 01 What Is Statistics? True / False Questions 1. A population is a collection of all individuals, objects, or measurements of interest. True False 2. Statistics are used as a basis for making decisions.

More information

2012 Assessment of St. Lucie County s Social, Health, and Public Safety Services

2012 Assessment of St. Lucie County s Social, Health, and Public Safety Services 2012 Assessment of St. Lucie County s Social, Health, and Public Safety Services April 5, 2013 140 Intracoastal Pointe Drive, Suite 212 Jupiter, FL 33477-5064 561.744.5662 Fax: 561.575.7396 www.sra-researchgroup.com

More information

CORPORATE. Work-Fit INJURY SOLUTIONS. Helping Workers Get Better And Stay Better

CORPORATE. Work-Fit INJURY SOLUTIONS. Helping Workers Get Better And Stay Better CORPORATE Work-Fit INJURY SOLUTIONS Helping Workers Get Better And Stay Better 905.845.9540 www.workfitphysiotherapy.ca Hospital owned and operated. All net proceeds support hospital programs. Get The

More information

JOINT TESTIMONY. Homeless Services United Catherine Trapani Executive Director, HSU

JOINT TESTIMONY. Homeless Services United Catherine Trapani Executive Director, HSU New York City Council Committees on General Welfare and Health Oversight - Part 1: Medical Health Services in the DHS Shelter System Int. No. 929 - in relation to requiring information on health services

More information

Internet Appendix for. Do Stock Markets Catch the Flu? TABLE A.1. Aggregated and Regional Summary Data

Internet Appendix for. Do Stock Markets Catch the Flu? TABLE A.1. Aggregated and Regional Summary Data Internet Appendix for Do Stock Markets Catch the Flu? Brian C. McTier, Yiuman Tse, and John K. Wald JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, Vol. 48, No. 3, June 2013 TABLE A.1 Aggregated and Regional

More information

The Economics of Obesity

The Economics of Obesity The Economics of Obesity John Cawley Cornell University Usefulness of Economics in Studying Obesity Offers widely-accepted theoretical framework for human behavior (constrained maximization) We ask different

More information

Nashville HMIS Intake Template Use COC Funded Projects: HMIS Intake at Entry Template

Nashville HMIS Intake Template Use COC Funded Projects: HMIS Intake at Entry Template HMIS Data Collection Template for Project ENTRY CoC Program This form can be used by all CoC-funded project types: Prevention, Street Outreach, Safe Haven, Transitional Housing, Rapid Re-housing, Permanent

More information

Do Management Interventions Last? Evidence from India

Do Management Interventions Last? Evidence from India Do Management Interventions Last? Evidence from India Nick Bloom (Stanford), Aprajit Mahajan (Berkeley), David McKenzie (World Bank) John Roberts (Stanford) World Bank Empirical Management Conference,

More information

LEAD THE WAY TO ALZHEIMER S FIRST SURVIVOR.

LEAD THE WAY TO ALZHEIMER S FIRST SURVIVOR. LEAD THE WAY TO ALZHEIMER S FIRST SURVIVOR. 2018 TEAM CAPTAIN GUIDE Your guide to recruitment and fundraising success. 800.272.3900 alz.org/walk THANK YOU FOR STEPPING UP AS A TEAM CAPTAIN. The success

More information

Virginia s Health 2017

Virginia s Health 2017 Virginia s Health 2017 Marissa J. Levine, MD, MPH, FAAFP Virginia State Health Commissioner The Virginia Department of Health HAC Health & Human Resources Subcommittee Overview Virginian s Health Status

More information

MIDWEST FOOD PROCESSING INDUSTRY STATISTICS BY STATE WISCONSIN

MIDWEST FOOD PROCESSING INDUSTRY STATISTICS BY STATE WISCONSIN MIDWEST FOOD PROCESSING INDUSTRY STATISTICS BY STATE WISCONSIN Wisconsin Food Processing Share in Wisconsin Manufacturing, 2016 74.0% 26.0% Manufacturing Food Processing The 2016 Annual Survey of Manufacturers

More information

Forestry and Related Industries

Forestry and Related Industries OCCUPATIONAL INJURIES AND DISEASES IN ALBERTA Summer 2009 Lost-Time, Injury and Claim Rates Forestry and Related Industries 2004 to 2008 TABLE OF CONTENTS 1. Introduction... 2 2. Provincial Summary...

More information

OREGON Food & Beverage Opportunity. Oregon Food & Beverage Leadership Council

OREGON Food & Beverage Opportunity. Oregon Food & Beverage Leadership Council OREGON Food & Beverage Opportunity Oregon Food & Beverage Leadership Council Development of Oregon s food and beverage industry, in particular the manufacture of value-added, traded-sector branded food

More information

Number of fatal work injuries,

Number of fatal work injuries, Number of fatal work injuries, 1992 2010 Number of fatal work injuries 7,000 6,217 6,331 6,632 6,275 6,202 6,238 6,055 6,054 5,920 5,915 6,000 5,534 5,575 5,764 5,734 5,840 5,657 5,214 5,000 4,551 4,690

More information

Highlights of The Economic Impact of the 2008 Fargo and West Fargo Smoking Bans report, June 2010

Highlights of The Economic Impact of the 2008 Fargo and West Fargo Smoking Bans report, June 2010 BRIEFING POINTS North Dakota State Data Center North Dakota State University P.O. Box 6050, Dept. 8000, Fargo, ND 58108 6050 Phone 701 231 7980; Fax 701 231 9730 Email Richard.Rathge@ndsu.edu Access the

More information

Canadian census mortality and cancer cohort: A linked cohort for the surveillance of occupational exposure and cancer

Canadian census mortality and cancer cohort: A linked cohort for the surveillance of occupational exposure and cancer 1991 2010 Canadian census mortality and cancer cohort: A linked cohort for the surveillance of occupational exposure and cancer Jill Hardt Occupational Cancer Research Centre Cancer Care Ontario November

More information

Rising Incomes and Nutrition in China

Rising Incomes and Nutrition in China Rising Incomes and Nutrition in China John A. Bishop East Carolina University, USA Haiyong Liu* East Carolina University, USA Buhong Zheng University of Colorado-Denver, USA Abstract. Rising incomes in

More information

Development Dialogue on the World Development Report 2012 October 10, 2011 Johannesburg, South Africa

Development Dialogue on the World Development Report 2012 October 10, 2011 Johannesburg, South Africa Development Dialogue on the World Development Report 2012 October 10, 2011 Johannesburg, South Africa Ruth Kagia, South Africa World Bank Country Director Compounded by historical legacy Policy/institutional

More information