Wages, Profits, and Rent-Sharing
提出一种新方法检验美国劳动力市场中的租金分享现象，利用制造业非平衡面板数据发现行业盈利上升会在数年后提高该行业的长期工资水平，仅因租金分享导致的工资差异约占平均工资的24%。
The paper suggests a new test for rent-sharing in the U.S. labor market. Using an unbalanced \npanel from the manufacturing sector, it shows that a rise in a sector's profitability leads after some \nyears to an increase in the long-run level of wages in that sector. The paper controls for workers' \ncharacteristics, for industry fixed-effects, and for unionism. Lester's range of wages is estimated, \nfor rent-sharing reasons alone, at approximately 24 per cent of the mean wage.