From: Industry shutdown rates and permanent layoffs: evidence from firm-worker matched data
XS | S | M | L | XL | All firms | |
---|---|---|---|---|---|---|
Shutdown rate | 1.1319 | 1.1781 | 1.3252 | 1.0205 | .9667 | .7368 |
(.6124) a | (.6890) a | (.5541) b | (.6317) | (.3721) c | (.3935) a | |
Lag of earnings | −.0892 | −.1124 | −.1181 | −.1251 | −.1192 | −.1179 |
(.0056) c | (.0058) c | (.0114) c | (.0163) c | (.0131) c | (.0102) c | |
Age 35–49 | −.0488 | .0717 | .0905 | .0880 | .0658 | |
(.0067) c | (.0127) c | (.0127) c | (.0181) c | (.0151) c | (.0110) c | |
Age 50+ | .0393 | .1765 | .2456 | .2804 | .2712 | .2292 |
(.0196) b | (.0237) c | (.0293) c | (.0432) c | (.0366) c | (.0299) c | |
Married | −.1877 | −.1368 | −.1229 | −.1112 | −.0987 | −.1270 |
(.0058) c | (.0069) c | (.0078) c | (.0075) c | (.0095) c | (.0098) c | |
Tenure | −.1489 | −.1362 | −.1316 | −.1237 | −.1005 | −.1320 |
(.0104) c | (.0128) c | (.0176) c | (.0193) c | (.0101) c | (.0153) c | |
Tenure squared | .0045 | .0039 | .0039 | .0038 | .0028 | .0039 |
(.0004) c | (.0005) c | (.0006) c | (.0007) c | (.0003) c | (.0005) c | |
Union | .1571 | .2080 | .2045 | .1980 | .1548 | .1551 |
(.0247) c | (.0357) c | (.0440) c | (.0552) c | (.0536) c | (.0693) b | |
Atlantic | .3809 | .3096 | .2920 | .3091 | .2318 | .3213 |
(.0391) c | (.0268) c | (.0257) c | (.0340) c | (.0431) c | (.0249) c | |
Quebec | .1292 | .0978 | .0748 | .0576 | –.0432 | .0831 |
(.0322) c | (.0216) c | (.0153) c | (.0210) c | (.0215) b | (.0180) c | |
Prairie | −.1128 | −.0512 | −.0246 | .0142 | −.0050 | −.0194 |
(.0175) c | (.0089) c | (.0136) a | (.0195) | (.0315) | (.0118) | |
BC | .0600 | .0701 | .0643 | .0238 | .0190 | .0630 |
(.0341) a | (.0192) c | (.0195) c | (.0384) | (.0393) | (.0247) b | |
Constant | −.1237 | .0308 | .0824 | .2450 | .2227 | .1455 |
(.1161) | (.0823) | (.1102) | (.1658) | (.1542) | (.1158) | |
Firm active estimates—exclusion restrictions | ||||||
log RER jt | −.1108 | −.0573 | .0657 | −.1671 | −.1428 | −.0523 |
(.0526) b | (.0800) | (.1665) | (.2014) | (.9003) | (.1162) | |
\(\log \overline {\text {wage bill}}_{ikjt}\) | .4065 | .1746 | .1184 | .1228 | .3395 | .2850 |
(.0146) c | (.0296) c | (.0418) c | (.0361) c | (.0349) c | (.0167) c | |
ρ (correlation) | −.4272 | −.4545 | −.463 | .8875 | .9156 | −.0583 |
(.0638) c | (.1736) c | (.0474) c | (.0127) c | (.0239) c | (.1657) | |
LR test χ 2 (selection) | 34.20 | 5.02 | 4.99 | 555.22 | 111.34 | .1234 |
p value | 0 | .025 | .025 | 0 | 0 | .7254 |
Observation-censored | 78,090 | 32,215 | 26,554 | 12,415 | 5864 | 155,138 |
Observations | 856,229 | 1,046,321 | 1,464,844 | 1,095,370 | 2,733,141 | 7,195,905 |
logL | −385,676.8 | −342,000.6 | −385,265.8 | −217,645.1 | −264,097.3 | −1,691,035 |