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journal contribution
posted on 2022-02-15, 16:31 authored by Yi Wang, Peng ZhouThis paper investigates the public sector wage premium in the UK over the first decade of the 21 st century using both econometric and economic modelling methods. A comprehensive literature review is conducted to summarise the four popular types of methods adopted by the traditional microeconometric studies. Application of these methods results in an estimated public sector wage premium equal to 6.5% . Indirect inference is then introduced as a new method of testing and estimating a microfounded economic model. All four types of econometric methods can be used as auxiliary models to summarise the data features, based on which the distance between the actual data and the model -simulated data is assessed. The selection bias can also be tested in a straightforward way under indirect inference
History
Published in
International Journal of Computational Economics and EconometricsPublisher
InderscienceVersion
- AM (Accepted Manuscript)
Citation
Wang, Y. and Zhou, P. (2019) 'The public sector wage premium puzzle', International Journal of Computational Economics and Econometrics, 9(4). DOI: 10.1504/IJCEE.2019.10021464Print ISSN
1757-1170Electronic ISSN
1757-1189Cardiff Met Affiliation
- Cardiff School of Management
Cardiff Met Authors
Yi Wang Peng ZhouCardiff Met Research Centre/Group
- Welsh Centre for Business and Management Research
Copyright Holder
- © The Publisher
Language
- en