Consider an estimated equation for workers earning an hourly wage, wage,where educ, years of schooling, and exper,
Question:
Consider an estimated equation for workers earning an hourly wage, wage,where educ, years of schooling, and exper, actual years in the workforce, are measured in years. The dependent variable is lwage 5 log(wage):
Suppose that getting one more year of education necessarily reduces workforce experience by one year. What is the estimated percentage change in wage from getting one more year of schooling?
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In this example each additional year of education is ass...View the full answer
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Related Book For 
Introductory Econometrics A Modern Approach
ISBN: 9781337558860
7th Edition
Authors: Jeffrey Wooldridge
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