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Cognitive Ability, Wages, and Meritocracy

Cawley, John; Conneely, Karen; Heckman, James J.; … - 2021

that the labor market is organized on meritocratic principles. Additional factors beyond g are required to explain wages … and occupational choice. However, both blue collar and white collar wages are poorly predicted by g or even multiple … measures of ability. Observed cognitive ability is only a minor predictor of social performance. White collar wages are more g …

Persistent link: https://www.econbiz.de/10013224869

Fifty Years of Mincer Earnings Regressions

Heckman, James J.; Lochner, Lance; Todd, Petra - 2021

The Mincer earnings function is the cornerstone of a large literature in empirical economics. This paper discusses the theoretical foundations of the Mincer model and examines the empirical support for it using data from Decennial Censuses and Current Population Surveys. While data from 1940 and...

Persistent link: https://www.econbiz.de/10013248669

New Methods for Estimating Labor Supply Functions : A Survey

Heckman, James J.; MaCurdy, Thomas E. - 2021

This paper surveys new methods for estimatifg labor supply functions. A unified framework of analysis is presented. All recent models of labor supply are special cases of a general index function model developed for the analysis o dummy endogenous variables

Persistent link: https://www.econbiz.de/10013229144

Models for the Analysis of Labor Force Dynamics

Flinn, Christopher J.; Heckman, James J. - 2021

This paper presents new econometric methods for the empirical analysis of individual labor market histories. The techniques developed here extend previous work on continuous time models in four ways: (1) A structural economic interpretation of these models is presented. (2) Time varying...

Persistent link: https://www.econbiz.de/10013229389