Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You read in the literature that there should also be returns to on-the-job training. To approximate on-the-job training, researchers often use the so-called Mincer or
You read in the literature that there should also be returns to on-the-job training. To
approximate on-the-job training, researchers often use the so-called Mincer or potential
experience variable, which is defined as Exper = Age - Educ - 6.
a. Explain the reasoning behind this approximation
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started