NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Do Firm Effects Drift? Evidence from Washington Administrative Data

Marta Lachowska, Alexandre Mas, Raffaele D. Saggio, Stephen A. Woodbury

NBER Working Paper No. 26653
Issued in January 2020

---- Acknowledgments ----

We thank David Card, Patrick Kline, Christian Moser, Martha Stinson, Mikkel SĂžlvsten, and Jenna Stearns for useful comments. We are grateful to the Employment Security Department (ESD) of Washington State for allowing access to the Washington wage records, and especially to Jeff Robinson of ESD, whose help was essential to understanding the data. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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