A Dynamic Equilibrium Model of the US Wage Structure, 1968–1996
A Dynamic Equilibrium Model of the US Wage Structure, 1968–1996
复制标题
美国工资结构的动态均衡模型,1968-1996
DOI:
10.1086/666698
复制
发表时间:
2013
影响因子:
3.8
通讯作者:
M. Keane
中科院分区:
文献类型:
--
作者:
Matthew T. Johnson;M. Keane
We develop an equilibrium model of the US labor market, fit to Panel Study of Income Dynamics data from 1968–96. Our main innovation is a finer differentiation of types of labor than in prior work (i.e., by occupation, education, gender, and age). This lets us fit wage and employment patterns better than simpler models. We obtain a good fit to wages and occupational choices over the 29-year period while also explaining college attendance rates. We use the model to assess factors driving changes in the wage structure. Occupational demand shifts and shifts in demand for college labor and female labor within occupations are key factors.