Sentence examples for wage model from inspiring English sources

Under the Living Wage model, which enjoys cross-party support, employers voluntarily opt in to paying the wage which is a calculated according to the basic cost of living in the UK - sums done by the Centre for Research in Social Policy.

To account for these heterogeneities, we re-estimate the wage model for different sub-samples.

So, we amend the wage model with selection (5) to include the firm size class switches.

The variable r ikt indicating the occupation concentration ratio of immigrants relative to the natives' could be correlated with the error term ε ikt in the wage model (Eq. 2).

An endogeneity test of the wage model with the diversity index as an independent variable yields a Durbin score chi-squared of 164.6 (p < 0.01) which implies that the diversity index is endogenous.

This set of regressors replicates those in our major specification of the wage model, in column 3 of Table 2, augmented to include the job attribute that is expected to have a direct impact on perceptions of future unemployment, namely the duration of the current employment contract (open-ended, as opposed to short duration).

The wage models are well specified and generally conform to expectations.

Moreover, it contributed to the improvement of empirical wage models by including what had been a rather unobserved variable that contributes to a better understanding of sources of wage heterogeneity.

This means including plausibly exogenous variables that are usually included in Mincerian wage models as well as variables that one expects to affect both participation in training and wages, but which one thinks are correlated with the error term in the wage equation (endogenous covariates).

Consequently, in my model, layoffs occur only during recessions.1 By adopting this setting, unlike the typical efficiency wage models such as in Shapiro and Stiglitz (1984) and Sparks (1986), wherein an equilibrium with no dismissal is derived, I was able to answer the question: Why do wages not fall during recessions in which firms lay off many workers?2.

In efficiency wage models, workers are paid at levels that maximize productivity instead of clearing the market.