Moser, Christian; Saidi, Farzad; Wirth, Benjamin; … - 2026
contraction in credit supply, associated with lower average wages. Within firms, initially lower-paid workers are more likely to … leave employment, while initially higher-paid workers see a relative decline in wages. Between firms, wages fall by more at … initially higher-paying employers. Our results suggest that credit affects the distribution of wages and employment both within …
