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Labor econometrics

In: Handbook of Econometrics

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  • Heckman, James J.
  • Macurdy, Thomas E.

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.), 1986. "Handbook of Econometrics," Handbook of Econometrics, Elsevier, edition 1, volume 3, number 3.
    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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    Web page: http://www.elsevier.com/wps/find/bookseriesdescription.cws_home/BS_HE/description

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    Cited by:
    1. Ziliak, J.P. & Kniesner, T.J., 1996. "The Importance of Sample Attrition in Life Cycle Labor Supply," Discussion Paper 1996-46, Tilburg University, Center for Economic Research.
    2. Mroz, Thomas A., 1999. "Discrete factor approximations in simultaneous equation models: Estimating the impact of a dummy endogenous variable on a continuous outcome," Journal of Econometrics, Elsevier, vol. 92(2), pages 233-274, October.
    3. Fred Zaal & Remco H. Oostendorp, 2001. "Explaining a miracle. Intensification and the Transition Towards Sustainable Small-Scale Agriculture in Dryland Machakos and Kitui Districts, Kenya," CSAE Working Paper Series 2001-19, Centre for the Study of African Economies, University of Oxford.
    4. Chen, Songnian, 1999. "Distribution-free estimation of the random coefficient dummy endogenous variable model," Journal of Econometrics, Elsevier, vol. 91(1), pages 171-199, July.
    5. Wang, Liqun, 1998. "Estimation of censored linear errors-in-variables models," Journal of Econometrics, Elsevier, vol. 84(2), pages 383-400, June.
    6. 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.
    7. Andrew Cohen & Michael Mazzeo, 2010. "Investment Strategies and Market Structure: An Empirical Analysis of Bank Branching Decisions," Journal of Financial Services Research, Springer, vol. 38(1), pages 1-21, August.
    8. Fernando Coloma & Bernardita Vial, 2003. "Desempleo e Inactividad Juvenil en Chile," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 40(119), pages 149-171.
    9. Ott Toomet & Arne Henningsen, . "Sample Selection Models in R: Package sampleSelection," Journal of Statistical Software, American Statistical Association, vol. 27(i07).

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