목차
Title page 1
Contents 1
Abstract 2
Non-technical summary 3
1. Introduction 4
2. Institutional framework and data 8
2.1. Data and descriptive statistics 9
3. Empirical methodology 11
4. Empirical results 14
4.1. Employment margin 14
4.2. Heterogeneous effects on wages and identification of potential transmission mechanism 16
4.3. Effect on inequalities 21
5. Conclusion 23
References 24
Appendix 28
1. Data description and sources 28
2. Wage imputations and summary statistics 29
3. Additional results 31
Acknowledgements 36
Tables 15
Table 1. Employment probabilities on monetary policy shocks 15
Table 2. Individual wages on monetary policy shocks by firm type 17
Table 3. Firm-level variables on monetary policy shocks by firm size (LIAB) 19
Table 4. Individual wages on monetary policy shocks by worker type 22
Figures 18
Figure 1. Individual wages on monetary policy shocks by firm size 18
Appendix Tables 28
Table A1. Variables Used in the baseline regressions 28
Table A2. Summary statistics of main variables of interest 30
Table A3. Individual wages on monetary policy shocks by firm type, sequential adding of fixed effects 32
Table A4. Individual wages on monetary policy shocks by firm size, different subsamples 32
Table A5. Individual wages on monetary policy shocks by firm size, sensitivity 33
Table A6. Individual wages on monetary policy shocks by worker rank, different subsamples 33
Table A7. Individual wages on monetary policy shocks by worker type, sensitivity 33
Table A8. Employment probabilities, role of firms' and workers' effects 34
Table A9. Employment probabilities, role of firms' and workers' effects 34
Table A10. Role of the firms' and workers' effects 34
Table A11. Individual wages on monetary policy shocks by firm size (LIAB) 35
Appendix Figures 29
Figure A1. distribution of ln-wages in different years 29
Figure A2. Monetary policy shocks 30
Figure A3. Kernel density of ln-wages by type 31
