By Orley Ashenfelter, David Card
What new instruments and types are enriching exertions economics? "Developments in examine tools and their program" (volume 4A) summarizes fresh advances within the methods economists study wages, employment, and hard work markets. blending conceptual versions and empirical paintings, individuals hide matters as different as box and laboratory experiments, software assessment, and behavioral models. The mixtures of those enhanced empirical findings with new models reveal how hard work economists are constructing new and cutting edge how one can degree key parameters and attempt very important hypotheses. Investigates contemporary advances in tools and types used in labor economicsDemonstrates what these new instruments and methods can accomplish files how conceptual versions and empirical paintings clarify vital useful concerns
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Additional resources for HANDBOOK OF LABOR ECONOMICS, VOLUME 4A & B SET: HANDBOOK OF LABOR ECONOMICS, VOL 4A, Volume 4A
21 22 Nicole Fortin et al. be written as ν O = ν S + ν X, where (i) the wage structure term νS = ν(FY B |D B ) − ν(FY C :X =X |D B ) solely reflects the difference A between the structural functions m B (·, ·) and m A (·, ·) (ii) the composition effect term νX = ν(FY C :X =X |D B ) − ν(FY A |D A ) solely reflects the effect of A differences in the distribution of characteristics ( X and ε) between the two groups. This important result means that, under the ignorability and overlapping assumptions, we can give a structural interpretation to the aggregate decomposition that is formally linked to the underlying wage setting models, Y A = m A (X, ε) and Y B = m B (X, ε).
Why ignorability may not hold, and what to do about it The conditional independence assumption is a somewhat strong assumption. We discuss three important cases under which it may not hold: 1. Differential selection into labor market. This is the selection problem that Heckman (1979) is concerned with in describing the wage offers for women. In the case of the gender pay gap analysis, it is quite plausible that the decisions to participate in the labor market are quite different for men and women.
21 In fact, X may assume different values as a consequence of the treatment. In the treatment effects literature, a confounding variable X may have different distributions across treatment groups. But that is not a direct action of the treatment. It should only be a selection problem: People who choose to be in a group may have a different distribution of X relative to people who choose to be in the other group. When X is affected by treatment, we cannot say that controlling for X we will obtain a causal parameter.