Nuremberg Research Seminar in Economics on 7 February 2024, LG 0.423
You are invited to join the weekly Nuremberg Research Seminar in Economics on 7 February 2024, from 13.15 to 14.45 pm. The seminar will be held in room LG 0.423. Jason Sockin (Institute of Labor Economics Berlin) will be talking about „Show Me the Amenity: Are Higher-Paying Firms Better All Around?”.
More information can be found here:
Do firms that pay more offer better amenities, or does the greater pay compensate for worse amenities? Using matched U.S. employee-employer data, this paper estimates the joint distribution of wages, amenities, and job satisfaction across firms. Fifty amenities are captured applying topic modeling to workers’ free-response descriptions of their jobs. Three main findings emerge. First, higher-paying firms offer better amenities. Second, employees value amenities: one-third have a more pronounced effect on satisfaction than pay. Third, since workers are willing to pay for satisfaction and because the covariance between amenities and wages is sufficiently high, amenities widen compensation dispersion across firms.