NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Thibaut Lamadon

Department of Economics
University of Chicago
1126 East 59th Street
Chicago, IL 60637
Tel: 917/477-3846

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NBER Program Affiliations: LS
NBER Affiliation: Faculty Research Fellow
Institutional Affiliation: University of Chicago

NBER Working Papers and Publications

June 2019Imperfect Competition, Compensating Differentials and Rent Sharing in the U.S. Labor Market
with Magne Mogstad, Bradley Setzler: w25954
The primary goal of our paper is to quantify the importance of imperfect competition in the U.S. labor market by estimating the size of rents earned by American firms and workers from ongoing employment relationships. To this end, we construct a matched employer-employee panel data set by combining the universe of U.S. business and worker tax records for the period 2001-2015. We describe several important features of the U.S. labor market, including the size of firm-specific wage premiums, the sorting of workers to firms, the production complementarities between high ability workers and productive firms, and the pass-through of firm and market shocks to workers' wages. Guided by these empirical results, we develop, identify and estimate an equilibrium model of the labor market with two-sid...
 
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