Wage Determination: The Use of Instrumental Assumptions

J.C.R. Rowley and D.A. Wilton
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J.C.R. Rowley: Queen's University
D.A. Wilton: Queen's University

No 37(A), Working Paper from Economics Department, Queen's University

Abstract: Economic literature is replete with examples of economists resorting to 'simplifying' or 'instrumental' assumptions at relatively late stages in their empirical investigations. Such assumptions are usually introduced so that complex economic models can be identified with familiar linear stochastic models, for which the properties of several alternative procedures for parametric estimation have been established. In this paper, the authors will discuss the consequences of constant weights when temporal behaviour of the relative change in an aggregate wage-index is explained by values of moving averages for the explanatory variables. These consequences form a particular problem of aggregation.

Pages: 9 pages
Date: 1972-04
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:37(a)

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