标题： 空气中什么也没有 显示英文标题

标题： There's Nothing in the Air

摘要： 为什么大城市的工资增长更快？ 我们使用法国行政数据来分解城市工资增长溢价，并发现答案与城市本身关系不大。 虽然我们记录到大城市工资增长显著更快，但在考虑了公司和同事的组成后，80%的溢价消失了。 我们还记录到大城市的工作到工作的转换率显著更高，这表明工人晋升更快。 最引人注目的是，当我们关注留在同一份工作中的工人时——消除了晋升机制——在考虑了公司和同事之后，城市工资增长溢价下降了94.1%。 剩余效应在统计上与零没有区别。 这些结果挑战了城市产生人力资本溢出的观念，“在空气中”，而是表明城市工资动态反映了公司和工人的分类以及工作流动的速度。 显示英文摘要

摘要： Why do wages grow faster in bigger cities? We use French administrative data to decompose the urban wage growth premium and find that the answer has surprisingly little to do with cities themselves. While we document substantially faster wage growth in larger cities, 80% of the premium disappears after controlling for the composition of firms and coworkers. We also document significantly higher job-to-job transition rates in larger cities, suggesting workers climb the job ladder faster. Most strikingly, when we focus on workers who remain in the same job -- eliminating the job ladder mechanism -- the urban wage growth premium falls by 94.1% after accounting for firms and coworkers. The residual effect is statistically indistinguishable from zero. These results challenge the view that cities generate human capital spillovers ``in the air,'' suggesting instead that urban wage dynamics reflect the sorting of firms and workers and the pace of job mobility.