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Labor econometrics

In: Handbook of Econometrics

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Heckman, James J.
Macurdy, Thomas E.

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Abstract

This paper presents and extends the index function model of Karl Pearson (1901) that underlies all recent models in labor econometrics. In this framework, censored, truncated and discrete random variables are interpreted as the manifestation of various sampling schemes for underlying index function models. A unified derivation of the densities and regression representations for index function models is presented. Methods of estimation are discussed with an emphasis on regression and instrumental variable procedures.We demonstrate how a variety of substantive models in labor economics can be given an econometric representation within the index function framework. Models for the analysis of unemployment, labor force participation, job turnover, the impact of interventions on earnings (and other outcomes) and hours of work are formulated as special cases of the general index function model. By casting these diverse models in a common mold we demonstrate the essential commonalities in the econometric approach required for their formulation and estimation.

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This chapter was published in: Z. Griliches† & M. D. Intriligator (ed.) Handbook of Econometrics, , chapter 32, pages 1917-1977, 1986.

This item is provided by Elsevier in its series Handbook of Econometrics with number 3-32.

Handle: RePEc:eee:ecochp:3-32

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Related research
This chapter was published in the following book, which is listed on IDEAS:
Z. Griliches† & M. D. Intriligator (ed.), 1986. "Handbook of Econometrics," Handbook of Econometrics, Elsevier, edition 1, volume 3, number 3, September. [Downloadable!] (restricted)
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Find related papers by JEL classification:
C39 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Other

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  1. Ziliak, J.P. & Kniesner, T.J., 1996. "The importance of sample attrition in life cycle labor supply estimation," Discussion Paper 46, Tilburg University, Center for Economic Research. [Downloadable!]
  2. V. Joseph Hotz & M. Rebecca Kilburn, 1992. "The Demand for Child Care and Child Care Costs: Should We Ignore Families with Non-Working Mothers," Working Papers 9201, Harris School of Public Policy Studies, University of Chicago. [Downloadable!]
  3. Fernando Coloma & Bernardita Vial, 2003. "Desempleo e Inactividad Juvenil en Chile," Cuadernos de Economía (Latin American Journal of Economics), Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 40(119), pages 149-171. [Downloadable!]
  4. Arne Henningsen & Ott Toomet, 2008. "Sample Selection Models in R: Package sampleSelection," Journal of Statistical Software, American Statistical Association, vol. 27(07), 07. [Downloadable!]
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