(1) | (2) | (3) | |
---|---|---|---|
Base wage rigidity | |||
DNWR base wage freezes | 0.117*** | 0.086*** | 0.084*** |
(0.010) | (0.008) | (0.016) | |
Shocks | |||
Demand shock | 0.109*** | 0.114*** | |
(0.013) | (0.015) | ||
Finance shock | 0.058*** | 0.062*** | |
(0.007) | (0.008) | ||
Customers’ ability to pay shock | 0.032*** | 0.019** | |
(0.008) | (0.009) | ||
Availability of supplies shock | 0.028*** | 0.033*** | |
(0.006) | (0.008) | ||
DNWR * shocks | |||
Base wage freezes and demand shock | − 0.019 | ||
(0.021) | |||
Base wage freezes and customer pay shock | 0.038*** | ||
(0.012) | |||
Base wage freezes and credit shock | − 0.014 | ||
(0.013) | |||
Base wage freezes and availability of supplies shock | − 0.015* | ||
(0.009) | |||
Observations | 19,234 | 18,582 | 18,582 |