Wage contraction persists comparing firms within the same city and industry.

Evidence

In columns (4)–(5) we further add city fixed effects to control for unobservable shocks to firms within the same city. We first replicate the specification in column (3) for the sample of cities with more than one firm in column (4), which results in 194 observations. The coefficient remains identical in size and is significant at the 5% level. In column (5), we add city fixed effects. Essentially, we are now comparing Danat-connected firms to other firms in the same city and industry. — Sebastian Doerr et al., Financial Crises and Political…, 136

Categorization

• XREF: Confirms the reader’s interest in robustness tests isolating income-loss effects from framing effects. — connects to: Danat-connected firms cut wage bills far more than matched city and industry peers — Sebastian Doerr et al., Financial Crises and Political…, 135; Common ownership of competitors reduces competition and keeps wages low — Andrew deWaard, Derivative Media: How Wall Street…, 484; Employer competition drives wages toward labour’s exchange value while monopsony allows rent extraction. — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 798 (+1 more)

Broader Connections

• Danat-connected firms cut wage bills far more than matched city and industry peers #expands (0.95) — Sebastian Doerr et al., Financial Crises and Political…, 135
• US inequality since 1970 grew mostly within rather than between industries #complicates (0.75) — Ken-Hou Lin & Donald Tomaskovic-Devey, Financialization and U.S. Income…, 63
• Common ownership of competitors reduces competition and keeps wages low #expands (0.72) — Andrew deWaard, Derivative Media, 484
• Employer competition drives wages toward labour’s exchange value while monopsony allows rent extraction. #qualifies (0.72) — Yanis Varoufakis, Technofeudalism, 798