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The structure of wages in Chile 1960 - 1996: an application of quantile regression

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  • Claudio Montenegro

Abstract

This paper applies newly developed techniques in the estimation of earnings functions to compute private rates of return for education in Chile. Although studies concerning the rate of return for education in Chile are available, the quantile regression method used here permits a conditional breakdown of the wage structure that is of crucial importance in an economy which has experienced important changes in political regimes that have had different impacts on different groups of the population. The results show that: (i) mean and median wage estimation equations are stable; (ii) the differences in the rates of return to education by quantiles are systematic; (iii) wage inequality is more volatile than what we usually believe; and (iv) the labor market is more heterogeneous than originally thought.

Suggested Citation

  • Claudio Montenegro, 1998. "The structure of wages in Chile 1960 - 1996: an application of quantile regression," Estudios de Economia, University of Chile, Department of Economics, vol. 25(1 Year 19), pages 71-98, June.
  • Handle: RePEc:udc:esteco:v:25:y:1998:i:1:p:71-98
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    File URL: http://www.econ.uchile.cl/uploads/publicacion/74b7aae3-5dcf-4cc4-8f78-90d7fe95228c.pdf
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    References listed on IDEAS

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    1. Kehoe, Timothy J., 1991. "Computation and multiplicity of equilibria," Handbook of Mathematical Economics,in: W. Hildenbrand & H. Sonnenschein (ed.), Handbook of Mathematical Economics, edition 1, volume 4, chapter 38, pages 2049-2144 Elsevier.
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    Keywords

    Structure; wages.;

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