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A quality adjusted wage index

Author

Listed:
  • Jennjou Chen

    (National Chengchi University)

  • J. S. Butler

    (University of Kentucky)

Abstract

In this paper, a new method of estimating a wage index is proposed and implemented. We construct a wage index by controlling for quantity, as well as quality of labor. Our approach uses a set of year dummies as the basis for calculation of a wage index. The March Current Population Survey Supplement (1983-2000) is employed, and empirical wage equation models are estimated in this paper. The estimation results of the proposed wage index suggest that the existing Employment Cost Index perhaps overestimates the increases in wages adjusted for quality.

Suggested Citation

  • Jennjou Chen & J. S. Butler, 2006. "A quality adjusted wage index," Economics Bulletin, AccessEcon, vol. 10(13), pages 1-14.
    • Handle: RePEc:ebl:ecbull:eb-06j30002
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    More about this item

    Keywords

    quality of labor;

    JEL classification:

    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs

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