Location, Location, Location
利用雇主-雇员匹配数据研究美国区位对收入的因果效应，发现工人技能解释了观察到的地区间收入差异的一半，而行业构成对地区效应解释力很小。
We use linked employer–employee data to study the causal effects of location on earnings in the United States. We estimate a model with employer and employee effects, then aggregate to the commuting zone (CZ) level. Sorting across firms biases traditional “movers” designs. Our model accurately predicts earnings changes for CZ movers after accounting for firm sorting. Worker skills explain half of observed earnings differences across CZs; observable characteristics understate this. Industry composition explains little of average place effects. Costs at least offset CZ earnings premia on average; workers who move to higher-wage CZs have equal or lower real consumption.