Firms and the Decline in Earnings Inequality in Brazil
利用巴西1996-2012年雇主-雇员关联数据，发现企业效应解释了收入不平等下降的40%，工人效应解释29%，主要源于企业生产率-薪酬溢价的压缩。
We document a large decrease in earnings inequality in Brazil between 1996 and 2012. Using administrative linked employer-employee data, we fit high-dimensional worker and firm fixed-effects models to understand the sources of this decrease. Firm effects account for 40 percent of the total decrease and worker effects for 29 percent. Changes in observable worker and firm characteristics contributed little to these trends. Instead, the decrease is primarily due to a compression of returns to these characteristics, particularly a declining firm productivity-pay premium. Our results shed light on potential drivers of earnings inequality dynamics.