Mincer wage equation. Using the Cornwell and Rupert (1988) panel data set described in the empirical example
Question:
Mincer wage equation. Using the Cornwell and Rupert (1988) panel data set described in the empirical example in Sect. 7.4 and given on the Springer website as wage.xls, replicate Table 7.6 and the associated test statistics.
Transcribed Image Text:
Table 7.6 Hausman and Taylor estimates of a mincer wage equation xthtaylor lwage occ south smsa ind exp exp2 wks ms union fem blk ed, endog (exp exp2 wks ms union ed) . Hausman-Taylor estimation Group variable (i): id Random effects ui i.i.d. lwage | TVexogenous occ -.0207047 south I .0074398 smsa | -.0418334 ind I .0136039 TVendogenous | exp | exp2 | wks | ms | union | TIexogenous 1 Coef. Std. Err. TIendogenous | ed I fem | -.1309236 blk I -.2857479 cons | .1131328 -.0004189 .0008374 -.0298508 .0327714 .137944 2.912726 sigma_u I .94180304 sigma_e I .15180273 rho | .97467788 .0137809 .031955 .0189581 .0152374 .002471 .0000546 .0005997 .0149084 .126659 .1557019 .0212485: Z .2836522 Number of obs Number of groups Obs per group: min = avg = max= Wald chi2 (12) Prob chi2 45.79 0.000 .1082898 -7.67 0.000 -.0005259 1.40 0.163 -.0003381 .01898 -1.57 0.116. -.0670508 2.20 0.028 .0035514 P> |Z| -1.50 0.133 0.23 0.816 -2.21 0.027 0.89 0.372 -1.03 0.301 -1.84 0.066 6.49 0.000 10.27 0.000 -.0477149 -.0551908. -.0789906 -.0162608 [95% Conf. Interval] -.3791707 -.5909179 .0962977 2.356778 4165 595 (fraction of variance due to u_i) note: TV refers to time-varying; TI refers to time-invariant. 7 7 7 6891.87 0.0000 .0063055 .0700705 -.0046761 .0434686 .1179758 -.0003119 .0020129 .0073493 .0619914 .1173234 .0194221 1795902 3.468674
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Amos Kiprotich
I am a wild researcher and I guarantee you a well written paper that is plagiarism free. I am a good time manager and hence you are assured that your paper will always be delivered a head of time. My services are cheap and the prices include a series of revisions, free referencing and formatting.
4.90+
15+ Reviews
21+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Q1. You have identified a market opportunity for home media players that would cater for older members of the population. Many older people have difficulty in understanding the operating principles...
-
Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...
-
Dissertation Topic: "The Effects of Cybersecurity Measures on the Productivity and Well-being of Teleworkers in the Healthcare Industry". Introduction Draft no more than TWO paragraphs here -...
-
Two thousand kg of water, initially a saturated liquid at 150C, is heated in a closed, rigid tank to a final state where the pressure is 2.5 MPa. Determine the final temperature, in C. the volume of...
-
a. What are the four basic financial statements? b. What is the primary purpose of each of the four basic financial statements? c. In your opinion, which financial statement is the most important?...
-
In 2017, the average cost of a traditional Thanksgiving dinner for 10, featuring turkey, stuffing, cranberries, pumpkin pie, and trimmings, was $49.12, a decrease of 1.48% from the cost in 2016. What...
-
Sauer Petroleum, a successful efforts company, drilled an exploratory well offshore at a cost of $1 million. The well was dry, but Sauer Petroleum felt that the G&G data obtained from the well was...
-
Carolina Company purchased a building and the land on which the building is situated for a total cost of $800,000 cash. The land was appraised at $300,000 and the building at $700,000. Required a....
-
Post the closing journal entries and calculate and enter balances. Assume Tobique closes its books monthly. (Post entries in the order of journal entries presented in the previous part. If the ending...
-
A Hausman test based on the difference between fixed effects two-stage least squares and error components two-stage least squares. This is based on Problem 04.1.1 in Econometric Theory by Baltagi...
-
Using the Monte Carlo setup for a two-equation simultaneous model with error component disturbances, given in Baltagi (1984), compare EC2SLS and EC3SLS with the usual 2SLS and 3SLS estimators that...
-
Answer Problem 5.93 based on cases in winter? Researchers also analyzed cases occurring in the winter months. They found that on 10 days the pollution level on the index date was higher than on the...
-
What is the 100X Software Rule and what are its implications to System Development?
-
What are system operational cycles?
-
What is the difference between V&V?
-
When is validation started and when does it end?
-
Discuss the various aspects of top-down and bottom-up budgeting and the advantages and disadvantages of each of these approaches to developing a project budget.
-
For each of the following assets, determine whether it is personal property, real property, intangible property, or personal use property: a. Reagan gave her mother a new set of golf clubs for...
-
Read the Forecasting Supply Chain Demand Starbucks Corporation case in your text Operations and Supply Chain Management on pages 484-485, then address the four questions associated with the...
-
Identify the determining dimension or dimensions that explain why you bought the specific brand you did in your most recent purchase of a ( a ) soft drink, ( b ) shampoo, ( c ) shirt or blouse, and (...
-
Consumer services tend to be intangible, and goods tend to be tangible. Use an example to explain how the lack of a physical good in a pure service might affect efforts to promote the service.
-
Explain some of the different aspects of the customer experience that could be managed to improve customer satisfaction if you were the marketing manager for: ( a ) an airport branch of a rental car...
-
Required information [The following information applies to the questions displayed below.] In each of the cases below, assume Division X has a product that can be sold either to outside customers or...
-
Canon Industries has gathered the following information about the actual sales revenues and expenses for its pharmaceuticals segment for the most recent year. (Click the icon to view the actual...
-
Lean Accounting The annual budgeted conversion costs for a lean cell are $180,000 for 1,000 production hours. Each unit produced by the cell requires 20 minutes of cell process time. During the...
Study smarter with the SolutionInn App