An empirical derivation of the industry wage equation
This paper utilizes the Box-Cox transformation of variables technique to empirically derive an industry wage equation. Section I presents the determinants of potential wage differentials between and within industries. Section II estimates a Box-Cox industry wage equation. Likelihood ratio tests on alternative specifications of this equation affirm that competitive structure is a significant determinant of the industry wage rate and that human capital specifications of the industry wage equation (for the manufacturing sector) are not statistically valid. Section III summarizes the results.
|Date of creation:||1994|
|Date of revision:|
|Publication status:||Published in Journal of Quantitative Economics 1.10(1994): pp. 155-170|
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