|**no skill up as base**<br>**Propensity to**<br>**move ind.**<br>**Propensity to**<br>**skill-up**<br>(7)<br>(8)<br>-0.268<br>-1.008<br>(44.98)***<br>(164.66)***<br>0.198<br>1.114<br>(25.03)***<br>(137.06)***<br>-0.166<br>-0.187<br>(100.56)***<br>(91.08)***<br>0.142<br>0.256<br>(23.81)***<br>(41.27)***<br>**0.181**<br>**0.243**<br>**(5.21)*****<br>**(5.66)*****<br>0.087<br>0.041<br>(36.31)***<br>(16.05)***<br>0.004<br>0.001<br>(24.97)***<br>(5.12)***<br>-0.002<br>-0.001<br>(1.92)*<br>(0.65)<br>-0.032<br>0.006<br>(33.98)***<br>(5.06)***<br>0.002<br>0.000<br>(2.96)***<br>(0.07)<br>-0.055<br>0.012<br>(14.46)***<br>(2.87)***<br>Yes<br>Yes<br>Yes<br>Yes<br>3,858,747<br>0.267<br>0.066<br>992-2000 in Column 3-4 and 7-8.<br>by 10, and age-square and hhi by|
|---|
|**Stay same ind and **<br>**Propensity to**<br>**move ind.**<br>**Propensity to**<br>**skill-up**<br>(5)<br>(6)<br>-0.172<br>-1.094<br>(22.04)***<br>(138.04)***<br>0.016<br>1.193<br>(1.5)<br>(115.15)***<br>-0.233<br>-0.222<br>(104.98)***<br>(82.35)***<br>0.233<br>0.446<br>(24.02)***<br>(45.47)***<br>**0.035**<br>**0.028**<br>**(4.01)*****<br>**(2.99)*****<br>0.035<br>0.024<br>(1.25)<br>(0.91)<br>-0.023<br>-0.111<br>(4.52)***<br>(19.41)***<br>0.103<br>0.098<br>(33.44)***<br>(29.05)***<br>0.084<br>0.067<br>(8.62)***<br>(5.96)***<br>-0.045<br>-0.008<br>(45.87)***<br>(7.24)***<br>-0.042<br>0.001<br>(43.32)***<br>(0.52)<br>0.015<br>-0.002<br>(21.59)***<br>(2.31)**<br>-0.186<br>0.053<br>(34.84)***<br>(9.69)***<br>Yes<br>Yes<br>Yes<br>Yes<br>2,300,567<br>0.299<br>0.066<br>986-1992 in Column 1-2 and 5-6 and 1<br> The variables age, tenure are divided|
|**Stay in the same industry and skill as base**<br>**Propensity to**<br>**move ind.**<br>**Propensity to**<br>**move skill**<br>**Propensity to**<br>**move ind.**<br>**Propensity to**<br>**move skill**<br>(1)<br>(2)<br>(3)<br>(4)<br>**Variables**<br>age<br>-0.184<br>-0.876<br>-0.275<br>-0.844<br>(23.58)***<br>(111.2)***<br>(46.36)***<br>(134.36)***<br>age2<br>0.031<br>0.934<br>0.208<br>0.921<br>(2.98)***<br>(90.03)***<br>(26.41)***<br>(110.12)***<br>tenure<br>-0.232<br>-0.163<br>-0.165<br>-0.141<br>(105.24)***<br>(65.14)***<br>(100.59)***<br>(73.01)***<br>skilled<br>0.238<br>0.445<br>0.145<br>0.338<br>(24.67)***<br>(43.59)***<br>(24.47)***<br>(52.85)***<br>**indop88*post89**<br>**0.034**<br>**0.028**<br>**(3.96)*****<br>**(3.23)*****<br>**indop88**<br>0.038<br>0.022<br>(1.36)<br>(0.89)<br>**post89**<br>-0.023<br>-0.061<br>(4.66)***<br>(12.25)***<br>**exchrate**<br>**0.174**<br>**0.087**<br>**(5.01)*****<br>**(2.47)****<br>male<br>0.102<br>0.094<br>0.085<br>0.030<br>(33.37)***<br>(28.09)***<br>(35.95)***<br>(11.12)***<br>hhi<br>0.079<br>0.098<br>0.004<br>0.001<br>(8.17)***<br>(10.39)***<br>(25.37)***<br>(5.58)***<br>frmsize<br>-0.045<br>-0.025<br>-0.001<br>-0.010<br>(45.97)***<br>(23.42)***<br>(1.23)<br>(11.12)***<br>frmlabprod<br>-0.041<br>-0.009<br>-0.031<br>0.002<br>(42.39)***<br>(8.22)***<br>(32.75)***<br>(2.22)**<br>frmage<br>0.014<br>0.001<br>0.001<br>0.000<br>(21.14)***<br>(1.8)*<br>(2.28)**<br>(0.68)<br>%foreignK<br>-0.183<br>0.019<br>-0.055<br>-0.012<br>(34.47)***<br>(3.63)***<br>(14.38)***<br>(2.98)***<br>Year+Regional dummies<br>Yes<br>Yes<br>Yes<br>Yes<br>Industry fxed efects<br>Yes<br>Yes<br>Yes<br>Yes<br>Observations<br>2,300,567<br>3,858,747<br>rho<br>0.475<br>0.409<br>McFadden’s<br>pseudo R2<br>0.052<br>0.053<br>_Notes_: * signifcant at 10%; ** signifcant at 5%; *** signifcant at 1%. The period of analysis is 1<br>Absolute value of t-statistic in parentheses, based on robust standard errors clustered by individuals.<br>1000.|

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