Hysteresis from Employer Subsidies
---- Acknowledgments ----
We thank David Card, Patrick Kline, and Peter Fredriksson for useful comments. Jesper Ekman, Clancy Green, Linn Hansen, and Katie Donnelly Moran provided outstanding research assistance. We acknowledge financial support from NSF Grant SES-1559014; the Center for Equitable Growth at UC Berkeley and FORTE Grant 2015-00490. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.