Reconciling Theoretical and Empirical Human Capital Earnings Functions

Margaret Stevens ()

Economics Papers from Economics Group, Nuffield College, University of Oxford

Abstract: To interpret estimates of empirical earnings functions, and to resolve sample selection problems such as "tenure bias", the wage determination process must be specified. This paper show that an earnings function can be interpreted as a wage offer in a labour market auction in which the worker accepts the highest offer received.

Keywords: WAGES; HUMAN CAPITAL (search for similar items in EconPapers)
JEL-codes: J31 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2000
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:nuf:econwp:2000-w9

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