Labor Earnings Inequality in Manufacturing during the Great Depression
利用制造业普查数据，研究发现1929至1933年间工人收入不平等下降，但到1935年恢复至1929年水平，这一变化完全由技能溢价和地区差异等可观测因素解释，企业退出在初期下降中作用显著，但在恢复中几乎无影响。
We study labor earnings inequality during the Great Depression using establishment-level information from the Census of Manufactures (COM). Inequality, as measured by the interquartile range in earnings per worker, declines by 10 log points between 1929 and 1933. However, by 1935, this difference has recovered to its 1929 level. In a decomposition, this decline and then rise in inequality is entirely explained by returns to observable factors, most notably the skill premium and regional differentials. The exit of establishments plays an important role in the initial decline in inequality but barely any role in the recovery.