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Papers Containing Keywords(s): 'earnings'

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Longitudinal Employer Household Dynamics - 76

Current Population Survey - 71

Bureau of Labor Statistics - 58

Census Bureau Disclosure Review Board - 55

Internal Revenue Service - 55

National Science Foundation - 51

Social Security Administration - 44

North American Industry Classification System - 44

Longitudinal Business Database - 42

Center for Economic Studies - 41

Ordinary Least Squares - 39

Social Security - 38

Alfred P Sloan Foundation - 38

American Community Survey - 36

Employer Identification Numbers - 35

Disclosure Review Board - 29

Standard Industrial Classification - 29

Survey of Income and Program Participation - 28

National Bureau of Economic Research - 26

Social Security Number - 26

Protected Identification Key - 22

Total Factor Productivity - 21

Federal Reserve Bank - 21

Unemployment Insurance - 21

Cornell University - 21

Quarterly Workforce Indicators - 21

Census of Manufactures - 20

W-2 - 20

Chicago Census Research Data Center - 20

Decennial Census - 19

Federal Statistical Research Data Center - 19

Annual Survey of Manufactures - 19

Longitudinal Research Database - 18

Business Register - 17

Quarterly Census of Employment and Wages - 17

PSID - 17

Bureau of Economic Analysis - 17

Economic Census - 16

Research Data Center - 16

International Trade Research Report - 16

Detailed Earnings Records - 15

Census Bureau Business Register - 14

Metropolitan Statistical Area - 14

LEHD Program - 13

Individual Characteristics File - 12

Special Sworn Status - 11

Cobb-Douglas - 11

Local Employment Dynamics - 11

Standard Statistical Establishment List - 11

Federal Reserve System - 10

University of Maryland - 10

Department of Labor - 10

AKM - 10

Earned Income Tax Credit - 9

Person Validation System - 9

Employment History File - 9

Master Earnings File - 9

Census of Manufacturing Firms - 9

Kauffman Foundation - 9

Financial, Insurance and Real Estate Industries - 9

Characteristics of Business Owners - 9

Herfindahl Hirschman Index - 8

Adjusted Gross Income - 8

County Business Patterns - 8

ASEC - 8

UC Berkeley - 8

National Institute on Aging - 8

National Income and Product Accounts - 8

Securities and Exchange Commission - 7

Office of Management and Budget - 7

Journal of Economic Literature - 7

National Longitudinal Survey of Youth - 7

Board of Governors - 7

Employer Characteristics File - 7

Project on Impact Investments - 6

Initial Public Offering - 6

Federal Insurance Contribution Act - 6

NBER Summer Institute - 6

Office of Personnel Management - 6

American Economic Review - 6

Center for Research in Security Prices - 6

Federal Reserve Board of Governors - 6

Census Bureau Longitudinal Business Database - 6

University of Chicago - 6

Employer-Household Dynamics - 6

Retail Trade - 6

Service Annual Survey - 6

Cornell Institute for Social and Economic Research - 6

Standard Occupational Classification - 5

Social and Economic Supplement - 5

Accommodation and Food Services - 5

Quarterly Journal of Economics - 5

Ohio State University - 5

Occupational Employment Statistics - 5

Council of Economic Advisers - 5

Generalized Method of Moments - 5

Business Employment Dynamics - 5

Russell Sage Foundation - 5

Duke University - 5

Boston College - 4

Technical Services - 4

Center for Administrative Records Research and Applications - 4

General Accounting Office - 4

Sloan Foundation - 4

Census Numident - 4

Society of Labor Economists - 4

Business Register Bridge - 4

Current Population Survey Annual Social and Economic Supplement - 4

Census Industry Code - 4

Medical Expenditure Panel Survey - 4

Person Identification Validation System - 4

Personally Identifiable Information - 4

Business Dynamics Statistics - 4

Wholesale Trade - 4

Department of Economics - 4

Journal of Labor Economics - 4

Labor Turnover Survey - 4

Organization for Economic Cooperation and Development - 4

Stern School of Business - 4

Agriculture, Forestry - 4

Labor Productivity - 4

Department of Justice - 3

Successor Predecessor File - 3

Integrated Public Use Microdata Series - 3

New York Times - 3

American Immigration Council - 3

Center for Administrative Records Research - 3

Disability Insurance - 3

Individual Taxpayer Identification Numbers - 3

Master Address File - 3

2010 Census - 3

Journal of Political Economy - 3

Review of Economic Studies - 3

Core Based Statistical Area - 3

Temporary Assistance for Needy Families - 3

Indian Health Service - 3

CDF - 3

Small Business Administration - 3

Arts, Entertainment - 3

Data Management System - 3

COVID-19 - 3

Business Services - 3

North American Free Trade Agreement - 3

World Trade Organization - 3

Professional Services - 3

University of California Los Angeles - 3

Information and Communication Technology Survey - 3

Urban Institute - 3

Brookings Institution - 3

IZA - 3

American Economic Association - 3

Pew Research Center - 3

National Center for Health Statistics - 3

JOLTS - 3

Public Administration - 3

Fabricated Metal Products - 3

Agency for Healthcare Research and Quality - 3

Summary Earnings Records - 3

Bureau of Labor - 3

MIT Press - 3

New England County Metropolitan - 3

American Statistical Association - 3

employed - 78

employ - 69

labor - 68

workforce - 63

employee - 57

salary - 53

earner - 44

payroll - 41

recession - 41

earn - 38

economist - 36

quarterly - 35

revenue - 31

econometric - 31

estimating - 29

expenditure - 23

investment - 21

survey - 21

macroeconomic - 21

growth - 20

heterogeneity - 19

endogeneity - 19

hiring - 19

employment earnings - 19

incentive - 18

worker - 18

estimation - 18

production - 18

trend - 17

profit - 16

tax - 16

irs - 15

economically - 15

respondent - 15

percentile - 15

employment growth - 15

workers earnings - 15

occupation - 15

entrepreneur - 14

entrepreneurship - 14

statistical - 14

manufacturing - 14

job - 14

company - 13

financial - 13

sale - 13

finance - 13

turnover - 13

tenure - 13

poverty - 12

bias - 12

hire - 12

employment wages - 12

unemployment rates - 12

sector - 12

population - 12

industrial - 12

employment dynamics - 12

layoff - 11

unemployed - 11

organizational - 11

retirement - 11

labor statistics - 11

earnings workers - 11

workplace - 11

earnings employees - 11

employment statistics - 11

accounting - 11

venture - 10

woman - 10

disclosure - 10

demand - 10

compensation - 10

longitudinal employer - 10

market - 9

minority - 9

corporation - 9

ssa - 9

earnings age - 9

employing - 9

opportunity - 9

earnings growth - 9

wage earnings - 9

earnings inequality - 9

report - 9

welfare - 9

wages productivity - 9

data - 9

efficiency - 9

average - 9

entrepreneurial - 9

acquisition - 8

leverage - 8

taxpayer - 8

imputation - 8

corporate - 8

establishment - 8

women earnings - 8

wage data - 8

gdp - 8

enterprise - 8

estimates employment - 8

census employment - 8

wage growth - 8

ownership - 8

workforce indicators - 8

yearly - 8

productivity growth - 8

income year - 8

investor - 7

shareholder - 7

stock - 7

bankruptcy - 7

debt - 7

census bureau - 7

1040 - 7

poorer - 7

discrimination - 7

shift - 7

econometrician - 7

effect wages - 7

wealth - 7

employment count - 7

aggregate - 7

labor productivity - 7

endogenous - 7

proprietorship - 7

specialization - 7

employment effects - 6

equity - 6

insurance - 6

race - 6

impact employment - 6

rent - 6

income distributions - 6

spillover - 6

income data - 6

metropolitan - 6

merger - 6

regress - 6

effects employment - 6

measures employment - 6

socioeconomic - 6

capital productivity - 6

industry productivity - 6

employee data - 6

census research - 6

income individuals - 6

takeover - 5

financing - 5

share - 5

lender - 5

ethnicity - 5

filing - 5

hispanic - 5

racial - 5

intergenerational - 5

autoregressive - 5

recessionary - 5

survey income - 5

discrepancy - 5

technological - 5

employment estimates - 5

owner - 5

depreciation - 5

medicaid - 5

gain - 5

profitability - 5

agency - 5

estimator - 5

expense - 5

statistician - 5

economic census - 5

monopolistic - 4

firms productivity - 4

impact - 4

disadvantaged - 4

bankrupt - 4

coverage - 4

ethnic - 4

exogeneity - 4

increase employment - 4

taxation - 4

employment distribution - 4

volatility - 4

assessing - 4

educated - 4

graduate - 4

distribution - 4

disparity - 4

unobserved - 4

wage differences - 4

innovation - 4

inventory - 4

regional - 4

trends employment - 4

employment data - 4

productivity wage - 4

productivity estimates - 4

associate - 4

unemployment insurance - 4

employment trends - 4

wage gap - 4

executive - 4

wages employment - 4

longitudinal - 4

employment measures - 4

data census - 4

mobility - 4

industry employment - 4

prospect - 4

dependent - 4

divorced - 4

productive - 4

family - 4

wage changes - 4

wage regressions - 4

equilibrium - 4

wage variation - 4

household income - 4

employment flows - 4

insurance coverage - 4

produce - 4

owned businesses - 4

research census - 4

capital - 4

productivity increases - 4

funding - 3

security - 3

borrower - 3

loan - 3

borrowing - 3

borrow - 3

eligible - 3

relocation - 3

immigrant - 3

institutional - 3

worker wages - 3

decade - 3

indicator - 3

income survey - 3

education - 3

wage effects - 3

industry wages - 3

wage industries - 3

premium - 3

segregation - 3

federal - 3

resident - 3

export - 3

reporting - 3

econometrically - 3

estimates production - 3

rural - 3

plant productivity - 3

productivity shocks - 3

matching - 3

younger firms - 3

employer household - 3

analysis - 3

fiscal - 3

medicare - 3

healthcare - 3

job growth - 3

investment productivity - 3

employment production - 3

recession employment - 3

credit - 3

income households - 3

couple - 3

enrollment - 3

industry concentration - 3

worker demographics - 3

firm dynamics - 3

productivity differences - 3

productivity measures - 3

measures productivity - 3

parental - 3

clerical - 3

manager - 3

contract - 3

fertility - 3

marriage - 3

parents income - 3

assessed - 3

proprietor - 3

record - 3

health insurance - 3

benefit - 3

disability - 3

employment entrepreneurship - 3

efficient - 3

characteristics businesses - 3

prevalence - 3

competitor - 3

study - 3

managerial - 3

technical - 3

Viewing papers 1 through 10 of 177


  • Working Paper

    Private Equity and Workers: Modeling and Measuring Monopsony, Implicit Contracts, and Efficient Reallocation

    June 2025

    Working Paper Number:

    CES-25-37

    We measure the real effects of private equity buyouts on worker outcomes by building a new database that links transactions to matched employer-employee data in the United States. To guide our empirical analysis, we derive testable implications from three theories in which private equity managers alter worker outcomes: (1) exertion of monopsony power in concentrated markets, (2) breach of implicit contracts with targeted groups of workers, including managers and top earners, and (3) efficient reallocation of workers across plants. We do not find any evidence that private equity-backed firms vary wages and employment based on local labor market power proxies. Wage losses are also very similar for managers and top earners. Instead, we find strong evidence that private equity managers downsize less productive plants relative to productive plants while simultaneously reallocating high-wage workers to more productive plants. We conclude that post-buyout employment and wage dynamics are consistent with professional investors providing incentives to increase productivity and monitor the companies in which they invest.
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  • Working Paper

    Impact Investing and Worker Outcomes

    May 2025

    Working Paper Number:

    CES-25-30

    Impact investors claim to distinguish themselves from traditional venture capital and growth equity investors by also pursuing environmental, social, and governance (ESG) objectives. Whether they successfully do so in practice is unclear. We use confidential Census Bureau microdata to assess worker outcomes across portfolio companies. Impact investors are more likely than other private equity firms to fund businesses in economically disadvantaged areas, and the performance of these companies lags behind those held by traditional private investors. We show that post-funding impact-backed firms are more likely to hire minorities, unskilled workers, and individuals with lower historical earnings, perhaps reflecting the higher representation of minorities in top positions. They also allocate wage increases more favorably to minorities and rank-and-file workers than VC-backed firms. Our results are consistent with impact investors and their portfolio companies acting according to non-pecuniary social goals and thus are not consistent with mere window dressing or cosmetic changes.
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  • Working Paper

    Corporate Share Repurchase Policies and Labor Share

    February 2025

    Working Paper Number:

    CES-25-14

    Using census data, we investigate whether share repurchases are responsible for the fall in labor share in U.S. corporations. Recent legislation imposes taxes on share repurchases, motivated by the assertion that share repurchases have led to reduced labor payments. Using several empirical approaches, we find no evidence that increases in share repurchases contribute to decreases in labor share. Top share repurchasing firms since 1982 did not decrease labor share. We also rely on exogenous changes in share repurchases around EPS announcements to pinpoint causality. Policies aimed at improving labor share by discouraging share repurchases will likely not achieve their objectives.
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  • Working Paper

    Leveraged Payouts: How Using New Debt to Pay Returns in Private Equity Affects Firms, Employees, Creditors, and Investors

    January 2025

    Working Paper Number:

    CES-25-12

    We study the causal effect of a large increase in firm leverage. Our setting is dividend recapitalizations in private equity (PE), where portfolio companies take on new debt to pay investor returns. After accounting for positive selection into more debt, we show that large leverage increases make firms much riskier, dramatically raising exit and bankruptcy rates but also IPOs. The debt-bankruptcy relationship is in line with Altman-Z model predictions for private firms. Dividend recapitalizations increase deal returns but reduce: (a) wages among surviving firms; (b) pre-existing loan prices; and (c) fund returns, which seems to reflect moral hazard via new fundraising. These results suggest negative implications for employees, pre-existing creditors, and investors.
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  • Working Paper

    EITC Participation Results and IRS-Census Match Methodology, Tax Year 2021

    December 2024

    Working Paper Number:

    CES-24-75

    The Earned Income Tax Credit (EITC), enacted in 1975, offers a refundable tax credit to low income working families. This paper provides taxpayer and dollar participation estimates for the EITC covering tax year 2021. The estimates derive from an approach that relies on linking the 2022 Current Population Survey Annual Social and Economic Supplement (CPS ASEC) to IRS administrative data. This approach, called the Exact Match, uses survey data to identify EITC eligible taxpayers and IRS administrative data to indicate which eligible taxpayers claimed and received the credit. Overall in tax year 2021 eligible taxpayers participated in the EITC program at a rate of 78 percent while dollar participation was 81 percent.
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  • Working Paper

    Tip of the Iceberg: Tip Reporting at U.S. Restaurants, 2005-2018

    November 2024

    Working Paper Number:

    CES-24-68

    Tipping is a significant form of compensation for many restaurant jobs, but it is poorly measured and therefore not well understood. We combine several large administrative and survey datasets and document patterns in tip reporting that are consistent with systematic under-reporting of tip income. Our analysis indicates that although the vast majority of tipped workers do report earning some tips, the dollar value of tips is under-reported and is sensitive to reporting incentives. In total, we estimate that about eight billion in tips paid at full-service, single-location, restaurants were not captured in tax data annually over the period 2005-2018. Due to changes in payment methods and reporting incentives, tip reporting has increased over time. Our findings have implications for downstream measures dependent on accurate measures of compensation including poverty measurement among tipped restaurant workers.
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  • Working Paper

    Transitional Costs and the Decline of Coal: Worker-Level Evidence

    September 2024

    Working Paper Number:

    CES-24-53

    We examine the labor market impacts of the U.S. coal industry's decline using comprehensive administrative data on workers from 2005-2021. Coal workers most exposed to the industry's contraction experienced substantial earnings losses, equivalent to 1.6 years of predecline wages. These losses stem from both reduced employment duration (0.37 fewer years employed) and lower annual earnings (17 percent decline) between 2012-2019, relative to similar workers less exposed to coal's decline. Earnings reductions primarly occur when workers remain in local labor markets but are not employed in mining. While coal workers do not exhibit lower geographic mobility, relocation does not significantly mitigate their earnings losses.
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  • Working Paper

    Earnings Through the Stages: Using Tax Data to Test for Sources of Error in CPS ASEC Earnings and Inequality Measures

    September 2024

    Authors: Ethan Krohn

    Working Paper Number:

    CES-24-52

    In this paper, I explore the impact of generalized coverage error, item non-response bias, and measurement error on measures of earnings and earnings inequality in the CPS ASEC. I match addresses selected for the CPS ASEC to administrative data from 1040 tax returns. I then compare earnings statistics in the tax data for wage and salary earnings in samples corresponding to seven stages of the CPS ASEC survey production process. I also compare the statistics using the actual survey responses. The statistics I examine include mean earnings, the Gini coefficient, percentile earnings shares, and shares of the survey weight for a range of percentiles. I examine how the accuracy of the statistics calculated using the survey data is affected by including imputed responses for both those who did not respond to the full CPS ASEC and those who did not respond to the earnings question. I find that generalized coverage error and item nonresponse bias are dominated by measurement error, and that an important aspect of measurement error is households reporting no wage and salary earnings in the CPS ASEC when there are such earnings in the tax data. I find that the CPS ASEC sample misses earnings at the high end of the distribution from the initial selection stage and that the final survey weights exacerbate this.
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  • Working Paper

    Estimating the Potential Impact of Combined Race and Ethnicity Reporting on Long-Term Earnings Statistics

    September 2024

    Working Paper Number:

    CES-24-48

    We use place of birth information from the Social Security Administration linked to earnings data from the Longitudinal Employer-Household Dynamics Program and detailed race and ethnicity data from the 2010 Census to study how long-term earnings differentials vary by place of birth for different self-identified race and ethnicity categories. We focus on foreign-born persons from countries that are heavily Hispanic and from countries in the Middle East and North Africa (MENA). We find substantial heterogeneity of long-term earnings differentials within country of birth, some of which will be difficult to detect when the reporting format changes from the current two-question version to the new single-question version because they depend on self-identifications that place the individual in two distinct categories within the single-question format, specifically, Hispanic and White or Black, and MENA and White or Black. We also study the USA-born children of these same immigrants. Long-term earnings differences for the 2nd generation also vary as a function of self-identified ethnicity and race in ways that changing to the single-question format could affect.
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  • Working Paper

    Socially Responsible Investment and Gender Equality in the United States Census

    August 2024

    Authors: Minsu Ko, Cynthia Yin

    Working Paper Number:

    CES-24-44

    With administrative data, we test whether institutional ownership with a social preference is related to employee-level gender equality. We show that the gender pay gap, which is an unexplained part of the lower wages of female employees, does not have a significant relation with socially responsible investments. Next, we show that female directorship strengthens the relation between socially responsible investments and the gender pay gap. When there are female directors, socially responsible investments have a robust correlation with a lower gender pay gap. This is because female directorship alleviates information asymmetry in gender equality.
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