We estimate employer-specific wage, tenure, and wage growth differentials using a unique Bureau of Labor Statistics establishment survey of full-time, white-collar workers. Employer wage and tenure differentials, conditional on worker characteristics, are substantial in these data. Education, potential experience, and tenure are highly correlated within an establishment. High-wage establishments generally employ higher quality workers, and the most skilled men and professionals typically work with the most skilled women and nonprofessionals. There is significant variation in wage growth rates across employers, and high wage growth establishments tend to have longer tenure, all else equal.

We estimate the short-run and life-cycle effects of unplanned children on unwed mothers by comparing unmarried women who first gave birth to twins with unwed mothers who bore singletons. We find large short-term effects of unplanned births on labor-force participation, poverty, and welfare recipiency among unwed mothers, but not among married mothers. Although most of the adverse economic effects of unplanned motherhood dissipate over time for whites, there are larger and more persistent negative effects on black unwed mothers.

We study the relationship between welfare benefits and the time to first marriage and time to next birth among initially unwed mothers. We use twin births to generate random within‐state variation in benefits, effectively controlling for unobservables that may confound the relationship between welfare payments and behavior. Higher base welfare benefits (1) lead unwed white mothers to forestall their eventual marriage and (2) lead unwed black mothers to hasten their next birth. The magnitudes of these effects are fairly modest. Moreover, we find no evidence that the marginal benefit paid at the birth of an additional child—the focus of the family cap debate—affects fertility.

We present empirical evidence on the relationship between individual wages, conditional on worker characteristics, and equity returns using a unique survey from the Bureau of Labor Statistics. Equity returns affect the wages only of workers with three or more years of tenure. A 4 percent increase in a firm's market value raises pay by 0.3 percent within three years. Our estimates suggest that each $10 increase in shareholder wealth raises the present value of a firm's wage bill by $1. The elasticity of white‐collar wages with respect to equity returns is one‐third smaller than the CEO salary elasticities in our sample.

This paper analyzes the relationship between changes in unionization and firm growth. Average growth is significantly lower in manufacturing firms that experience successful union elections, but these strong "effects" are largely illusory. We find no evidence of a significant relationship between unionization and firm growth, despite a strong cyclical pattern in election activity. Our results suggest that the significant negative effect of organizing activity on a firm's market value is not accompanied by any growth changes. We therefore cannot reject the hypothesis that the equity losses from union election activity represent a simple transfer of wealth from shareholders to workers.

This paper analyzes the relationship between changes in unionization and firm growth. Average growth is significantly low er in manufacturing firms that experience successful union elections bu t these strong "effects" are largely illusory. The authors find no evidence of a significant relationship between unionization and firm growth, despite a strong cyclical pattern in election activity. Thei r results suggest that the significant negative effect of organizing activity on a firm's market value is not accompanied by any growth changes. The authors, therefore, cannot reject the hypothesis that t he equity losses from union election activity represent a simple transf er of wealth from shareholders to workers.