A wage equation is analysed in a balanced panel of 595 observations on heads of households. The sample data are drawn from years 19761982 of a survey of income dynamic. The equation to be estimated is In {Wagei = s, + mam, + 53.5w; + await + ,35006\" +Ind + TSOchgt + aSMSA- + gMS-it +mU'ni0'n + llFemit + lgEd + ,813Bllkjt + \"it, where the variables are as follows: Exp. . .years of work experience, Wits . . .weeks worked, Occ. . .1 if blue-collar occupation, G if not, Ind. . .1 if the individual works in a manufacturing industry, Cl if not, South . . .1 if the individual resides in the south, {I if not, 3 M S A . . .1 if the individual resides in a Standard Metropolitan Statistical Area (SMSA), 0 if not, MS. . .1 if the individual is married, {I if not, Union . . .1 if the individual wage is set by a union contract, 0 if not, Fem. . .1 if the individual is female, {I if not, Ed . . .years of education, BM: . . .1 if the individual is black, {} if not. Note that variables Fem, Ed and BM: are time invariant [i.e. constant) in the sample. The average number of years of experience in the sample is 19'. Table 1: Results for estimating regression models for fatalities (standard errors of the estimated coefficients in parentheses). Regressor (1) (2) (3) Exp 0.0401 0.113 0.112 (0.0042) (0.004) (0.00197) Exp? -0.000673 -0.000418 -0.000398 (0.000093 (0.000060 (0.0000595) Wks 0.00422 0.000836 0.000652 (0.00152) (0.000685) (0.000684) Occ -0.140 -0.0215 -0.0192 (0.027) (0.0147) (0.0151) Ind 0.0468 0.0192 0.0206 (0.0230) (0.0140) (0.0140) South -0.0557 -0.0019 0.00314 (0.0253) (0.0413) 0.0415) SMSA 0.152 -0.0425 -0.0423 (0.024) (0.0196) (0.0189) MS 0.0484 -0.0297 -0.0284 (0.0384) (0.0150) (0.0146) Union 0.0926 0.0328 0.0299 (0.0243) (0.0198) (0.0195) Ed 0.0567 (0.0052) Fem -0.368 (0.049) BIk -0.167 - (0.045) Individual Effects No Yes Yes Time Effects No No Yes R2 0.429 0.891 0.892 Table 2: Tests for joint significance of effects (null hypothesis: coefficients on effects are jointly zero). Regression Effects F statistic p value (2) Fixed effects 38.2