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

Johnson, M; Keane, M

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

Johnson, M Keane, M

Permalink

Publisher:: The University of Chicago
Publication Type:: Journal Article
Citation:: Journal of Labor Economics, 2013, 31 (1), pp. 1 - 49
Issue Date:: 2013-01

Open Access

Copyright Clearance Process

Recently Added
In Progress
Open Access

This item is open access.

Adobe PDF

Download Published VersionAdobe PDF (4.61 MB)

View on publisher's site

View statistics

Full metadata record

Field	Value	Language
dc.contributor.author	Johnson, M	en_US
dc.contributor.author	Keane, M	en_US
dc.date.issued	2013-01	en_US
dc.identifier.citation	Journal of Labor Economics, 2013, 31 (1), pp. 1 - 49	en_US
dc.identifier.issn	0734-306X	en_US
dc.identifier.uri	http://hdl.handle.net/10453/29917
dc.description.abstract	We develop an equilibrium model of the US labor market, fit to Panel Study of Income Dynamics data from 196896. 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.	en_US
dc.publisher	The University of Chicago	en_US
dc.relation.ispartof	Journal of Labor Economics	en_US
dc.relation.isbasedon	10.1086/666698	en_US
dc.subject.classification	Economics	en_US
dc.title	A dynamic equilibrium model of the US wage structure, 1968-1996	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	31	en_US
utslib.for	1402 Applied Economics	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	open_access
pubs.consider-herdc	false	en_US
pubs.issue	1	en_US
pubs.volume	31	en_US

Abstract:

We develop an equilibrium model of the US labor market, fit to Panel Study of Income Dynamics data from 196896. 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.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/29917