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Suppose we estimate the regression where log(wage) is the log of the hourly wage, educ is years of education, exper is total years of labor

Suppose we estimate the regression

where log(wage) is the log of the hourly wage, educ is years of education, exper is total years of labor market experience, and tenure is the number of years in the current position. Carefully interpret the coefficient on tenure.

log(wage) = 0.28 + 0.092educ + 0.004exper + 0.022tenure

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