| 1 | A | B | C | D | E | F | G |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 2 | firm-level correlation between earnings and productivity |  |  |  |  |  |  |
| 3 | variables | panel a: firm-level average earnings |  | panel b: firm-level average earnings |  | panel c: within-firm variance of logged earnings |  |
| 4 |  | 2001 to 2013 | 2001 to 2013 | 2001 | 2013 | 2001 to 2013 | 2001 to 2013 |
| 5 |  | column 1 | column 2 | column 3 | column 4 | column 5 | column 6 |
| 6 | ln(lp) |  |  |  |  |  |  |
| 7 | coefficient | 0.129 | .. | 0.435 | 0.358 | 0.039 | .. |
| 8 | standard error | 0.001 | .. | 0.002 | 0.002 | 0.001 | .. |
| 9 | ln(mfp) |  |  |  |  |  |  |
| 10 | coefficient | .. | 0.109 | .. | .. | .. | 0.034 |
| 11 | standard error | .. | 0.001 | .. | .. | .. | 0.001 |
| 12 | size |  |  |  |  |  |  |
| 13 | coefficient | 0.104 | 0.081 | 0.066 | 0.068 | 0.046 | 0.040 |
| 14 | standard error | 0.001 | 0.001 | 0.001 | 0.001 | 0.000 | 0.001 |
| 15 | average log earnings |  |  |  |  |  |  |
| 16 | coefficient | 0.105 | 0.116 | 0.251 | 0.174 | 0.020 | 0.025 |
| 17 | standard error | 0.001 | 0.002 | 0.004 | 0.004 | 0.001 | 0.001 |
| 18 | year fixed effect | yes | yes | no | no | yes | yes |
| 19 | firm fixed effect | yes | yes | no | no | yes | yes |
| 20 | industry fixed effect | no | no | yes | yes | no | no |
| 21 | number of observations | 2,476,783 | 2,313,170 | 174,482 | 204,529 | 2,476,783 | 2,313,170 |
| 22 | r-squared | 0.885 | 0.883 | 0.621 | 0.622 | 0.574 | 0.572 |

Question: what was the percent of a 1% increase in firm-level lp resulted in a increase in firm-level average earnings on average?
Answer: 0.129

Question: what was the percent of a 1% increase in firm-level mfp resulted in a increase in firm-level average earnings?
Answer: 0.109