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Hedonic Wage Equilibrium: Theory, Evidence and Policy

Author

Listed:
  • Kniesner, Thomas J.
  • Leeth, John D.

Abstract

We examine theoretically and empirically the properties of the equilibrium wage function and its implications for policy. Our emphasis is on how the researcher approaches economic and policy questions when there is labor market heterogeneity leading to a set of wages. We focus on the application where hedonic models have been most successful at clarifying policy relevant outcomes and policy effects that of the wage premia for fatal injury risk.

Suggested Citation

  • Kniesner, Thomas J. & Leeth, John D., 2010. "Hedonic Wage Equilibrium: Theory, Evidence and Policy," Foundations and Trends(R) in Microeconomics, now publishers, vol. 5(4), pages 229-299, July.
    • Handle: RePEc:now:fntmic:0700000005
    DOI: 10.1561/0700000005
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    Cited by:

    1. Jaithri Ananthapavan & Marj Moodie & Andrew J. Milat & Rob Carter, 2021. "Systematic Review to Update ‘Value of a Statistical Life’ Estimates for Australia," IJERPH, MDPI, vol. 18(11), pages 1-17, June.
    2. Sherrilyn Billger & Carlos Lamarche, 2015. "A panel data quantile regression analysis of the immigrant earnings distribution in the United Kingdom and United States," Empirical Economics, Springer, vol. 49(2), pages 705-750, September.

    More about this item

    Keywords

    Hedonics; Labor markets; Value of statistical life; Wage equilibrium; Microeconomics; Econometrics; Labor economics; Public policy; Econometrics;
    All these keywords.

    JEL classification:

    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income

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