| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3601 |
| DP3601 A Structure Analysis of the Correlated Random Coefficient Wage Regression Model | |
| Jörgen Hansen; Christian Belzil | |
| 发表日期 | 2002-10-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | We estimate a finite mixture dynamic programming model of schooling decisions in which the log wage regression function is set in a random coefficient framework. The model allows for absolute and comparative advantages in the labour market and assumes that the population is composed of eight unknown types. Overall, labour market skills (as opposed to taste for schooling) appear to be the prime factor explaining schooling attainments. The estimates indicate a higher cross-sectional variance in the returns to experience than in the returns to schooling. From various simulations, we find that the sub-population mostly affected by a counterfactual change in the utility of attending school is composed of individuals who have any combination of some of the following attributes: absolute advantages in the labour market, high returns to experience, low utility of attending school and relatively low returns to schooling. Unlike what is often postulated in the average treatment effect literature, the weak correlation (unconditional) between the returns to schooling and the individual reactions to treatment is not sufficient to reconcile the discrepancy between OLS and IV estimates of the returns to schooling often found in the literature. |
| 主题 | Labour Economics |
| 关键词 | Random coefficient Returns to schooling Comparative advantages Dynamic programming Dynamic self-selection |
| URL | https://cepr.org/publications/dp3601 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532608 |
| 推荐引用方式 GB/T 7714 | Jörgen Hansen,Christian Belzil. DP3601 A Structure Analysis of the Correlated Random Coefficient Wage Regression Model. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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