"Drawing on conversations with scores of former paper mill workers in Groveton, New Hampshire, Sayen reconstructs the mill's human history and the devastating impact of global capitalism on a small New England town. This is a heartbreaking story of the decimation of industrial America."

This paper combines matching frictions with e¢ ciency wages to deter shirking in a model that is estimated for the USA and the UK to derive the underlying structural parameters. Methods robust to weak instruments are used to show that, for both countries, both matching frictions and efficiency...