Supply Side Wage Determinants: Overview of Empirical Literature
AbstractThe list of variables included in wage models has been extended substantially since 1974 when Mincer published his model containing years of schooling and quadratic function of potential experience. This paper provides an overview of the variables most often employed in wage equations, including results from their estimations. Education, experience, particular skills, psychological traits, beauty and health, social capital, characteristics potentially connected with discrimination, individual's household characteristics and social, cultural and economic background the individual was exposed to during childhood and adolescence, all these are aggregated fields of interest which are discussed in detail. The paper is concluded by the outline of the probable development of research on wage determinants.
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Bibliographic InfoArticle provided by Faculty of Economics and Administration, Department of Economics in its journal Review of Economic Perspectives.
Volume (Year): 12 (2012)
Issue (Month): 4 (December)
Find related papers by JEL classification:
- J71 - Labor and Demographic Economics - - Labor Discrimination - - - Hiring and Firing
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
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