Wages and international rent sharing in multinational firms
Wages and international rent sharing in multinational firms
复制标题
DOI：
10.1162/0034653053327586
复制
发表时间：
2005-02-01
影响因子：
8
通讯作者：
Slaughter, MJ
中科院分区：
文献类型：
--
作者：
Budd, JW;Konings, J;Slaughter, MJ
我们使用一个由跨国公司母公司及其外国附属公司组成的独特的公司级别小组来分析跨国公司内部的利润是否跨境分享。联属公司的工资估计会对联属公司和母公司的盈利能力做出反应。附属公司工资对每个工人的母公司利润的弹性约为0.03，这可以解释观察到的附属公司工资变化的20%以上。这些结果揭示了以前被忽视的租金分享的一个方面。它们还揭示了一种重要的微观联系，具有潜在的宏观影响。国际租金分担可以将经济状况传递到不同国家，从而提供一种隐性的风险分担机制。
We use a unique firm-level panel of multinational parents and their foreign affiliates to analyze whether profits are shared across borders within multinational firms. Affiliate wages are estimated to respond to both affiliate and parent profitability. The elasticity of affiliate wages to parent profits per worker is approximately 0.03, which can explain over 20% of observed variation in affiliate wages. These results reveal a previously ignored aspect of rent sharing. They also reveal an important micro-level linkage with potential macro-level implications. International rent sharing can transmit economic conditions across countries, and can thereby provide an implicit risk-sharing mechanism.