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A dynamic equilibrium model of the US wage structure, 1968-1996/ Matthew Johnson

By: Contributor(s): Material type: TextTextSeries: Journal of Labor Economics ; Volume 31 , number 1 ,Chicago: University of Chicago, 2013Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 0734-306X
Subject(s): Online resources: Summary: We develop an equilibrium model of the US labor market, fit to Panel Study of Income Dynamics data from 1968–96. Our main innovation is a finer differentiation of types of labor than in prior work (i.e., by occupation, education, gender, and age). This lets us fit wage and employment patterns better than simpler models. We obtain a good fit to wages and occupational choices over the 29-year period while also explaining college attendance rates. We use the model to assess factors driving changes in the wage structure. Occupational demand shifts and shifts in demand for college labor and female labor within occupations are key factors.
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Item type Current library Call number Vol info Copy number Status Notes Date due Barcode
Journal Article Journal Article Main Library - Special Collections HD5706 JOU (Browse shelf(Opens below)) Vol 31, No 1. Pages 1-49 SP17575 Not for loan For in-house use only

We develop an equilibrium model of the US labor market, fit to Panel Study of Income Dynamics data from 1968–96. Our main innovation is a finer differentiation of types of labor than in prior work (i.e., by occupation, education, gender, and age). This lets us fit wage and employment patterns better than simpler models. We obtain a good fit to wages and occupational choices over the 29-year period while also explaining college attendance rates. We use the model to assess factors driving changes in the wage structure. Occupational demand shifts and shifts in demand for college labor and female labor within occupations are key factors.

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