We thank David Lee, Alex Mas, and other members of the Industrial Relation Section for their comments and suggestions. We are also grateful to Hasti Akbar and the Canadian Research Data Centre for facilitating access to the data. This research was conducted at the University of Calgary, a part of the Canadian Research Data Centre Network (CRDCN). This service is provided through the support of the Canada Foundation for Innovation, the Canadian Institutes of Health Research, the Social Sciences and Humanities Research Council, and Statistics Canada, and through the support of University of Calgary. All views expressed in this work are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.