Econometrica Vol. 47 No. 2 1979
Components of Variation in Panel Earnings Data: American Scientists 1960-70
Abstract
[This paper is concerned with the sources of variation in the earnings of American scientists over the decade 1960-70. It focuses on sources of variation over time as well as at a point in time. Earnings variation over time is decomposed into sources due to measurable variables representing an earnings function, a random effect individual variance component in the level of earnings, a random effect individual component in earnings growth, and a serially correlated transitory component. Maximum likelihood estimates of the implied parameters are presented and a method for obtaining GLS estimates of the earnings regression function, when the residual variance components are given, is explored.]
- DOI
- 10.2307/1914192
- Volume
- 47
- Issue
- 2
- Pages
- 437
- Sources
- bibtex:phds-export.bib crossref openalex