  Since 2018 UK firms with at least 250 employees have been mandated to
publicly disclose gender equality indicators. Exploiting variations in this
mandate across firm size and time we show that pay transparency closes 18
percent of the gender pay gap by reducing men's wage growth. The public
availability of the equality indicators seems to influence employers' response
as worse performing firms and industries more exposed to public scrutiny reduce
their gender pay gap the most. Employers are also 9 percent more likely to post
wages in job vacancies, potentially in an effort to improve gender equality at
entry level.
