How well does a dynamic Mincer equation fit NLSY data? Evidence based on a simple wage-bargaining model

Empirical Economics, 2013, vol. 44, issue 3, 1519-1543

Abstract: This article argues that a dynamic Mincer equation can be seen as the solution of a simple wage-bargaining model between a worker and an employer where the unemployment-benefit level, affecting the outside option of the worker, depends on past wages. Further, it shows that this model provides a good fit of the US National Longitudinal Survey of Youth data. The evidence is robust to a number of sensitivity checks. Copyright Springer-Verlag 2013

Keywords: Mincer equation; Wages; Human capital; Bargaining; I21; J31 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (11)

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DOI: 10.1007/s00181-012-0581-5

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