The division of unexpected revenue shocks

Detalhes bibliográficos
Autor(a) principal: Bastos, Paulo
Data de Publicação: 2021
Outros Autores: Monteiro, Natália P., Straume, Odd Rune
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: https://hdl.handle.net/1822/74638
Resumo: We estimate the effects of unexpected revenue shocks on worker compensation. We pro-pose a new methodology to identify the unexpected component of demand shocks at the firm-level, which uses gaps between observed and recently forecasted GDP growth in ex-port destinations (weighted by the initial share of destinations in firms' total sales). Using employer-employee panel data, we find that unexpected demand shocks arc partly transmit-ted to workers in the form of higher average wages, with most of the rises occurring close to the top of the within-firm wage distribution. We find little evidence of adjustments in the skill composition of the workforce. The unequal average distribution of rents is mainly driven by wage effects in firms managed by high-skilled managers, and by changes in overtime and other pay. This suggests that different types of managers implement different pay systems in the firm.
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spelling The division of unexpected revenue shocksUnexpected revenue shocksFirm performanceExportsRent sharingManagersF16F66J6We estimate the effects of unexpected revenue shocks on worker compensation. We pro-pose a new methodology to identify the unexpected component of demand shocks at the firm-level, which uses gaps between observed and recently forecasted GDP growth in ex-port destinations (weighted by the initial share of destinations in firms' total sales). Using employer-employee panel data, we find that unexpected demand shocks arc partly transmit-ted to workers in the form of higher average wages, with most of the rises occurring close to the top of the within-firm wage distribution. We find little evidence of adjustments in the skill composition of the workforce. The unequal average distribution of rents is mainly driven by wage effects in firms managed by high-skilled managers, and by changes in overtime and other pay. This suggests that different types of managers implement different pay systems in the firm.Fundação para a Ciência e Tecnologia (FCT)Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)Universidade do MinhoBastos, PauloMonteiro, Natália P.Straume, Odd Rune20212021-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/1822/74638enghttps://nipe.eeg.uminho.pt/publicacoes-nipe/#documentos-de-trabalhoinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-21T12:01:42Zoai:repositorium.sdum.uminho.pt:1822/74638Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:51:38.476323Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv The division of unexpected revenue shocks
title The division of unexpected revenue shocks
spellingShingle The division of unexpected revenue shocks
Bastos, Paulo
Unexpected revenue shocks
Firm performance
Exports
Rent sharing
Managers
F16
F66
J6
title_short The division of unexpected revenue shocks
title_full The division of unexpected revenue shocks
title_fullStr The division of unexpected revenue shocks
title_full_unstemmed The division of unexpected revenue shocks
title_sort The division of unexpected revenue shocks
author Bastos, Paulo
author_facet Bastos, Paulo
Monteiro, Natália P.
Straume, Odd Rune
author_role author
author2 Monteiro, Natália P.
Straume, Odd Rune
author2_role author
author
dc.contributor.none.fl_str_mv Universidade do Minho
dc.contributor.author.fl_str_mv Bastos, Paulo
Monteiro, Natália P.
Straume, Odd Rune
dc.subject.por.fl_str_mv Unexpected revenue shocks
Firm performance
Exports
Rent sharing
Managers
F16
F66
J6
topic Unexpected revenue shocks
Firm performance
Exports
Rent sharing
Managers
F16
F66
J6
description We estimate the effects of unexpected revenue shocks on worker compensation. We pro-pose a new methodology to identify the unexpected component of demand shocks at the firm-level, which uses gaps between observed and recently forecasted GDP growth in ex-port destinations (weighted by the initial share of destinations in firms' total sales). Using employer-employee panel data, we find that unexpected demand shocks arc partly transmit-ted to workers in the form of higher average wages, with most of the rises occurring close to the top of the within-firm wage distribution. We find little evidence of adjustments in the skill composition of the workforce. The unequal average distribution of rents is mainly driven by wage effects in firms managed by high-skilled managers, and by changes in overtime and other pay. This suggests that different types of managers implement different pay systems in the firm.
publishDate 2021
dc.date.none.fl_str_mv 2021
2021-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://hdl.handle.net/1822/74638
url https://hdl.handle.net/1822/74638
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv https://nipe.eeg.uminho.pt/publicacoes-nipe/#documentos-de-trabalho
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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