Pitfalls in Including Current Earnings in Labour Market Choice Estimating Equations

Anh Le and Paul Miller

Australian Economic Papers, 1998, vol. 37, issue 4, 414-419

Abstract: This paper examines the conditions under which an empirical model of employment choice based on the differential in current earnings is an adequate specification when the theoretical model suggests the use of the difference in present values of the stream of lifetime earnings. The difference between the two approaches is shown to be variables for the growth rates of earnings in the employment states over which choice is being made.

Date: 1998
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