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econ483lab03wage

econ483lab03wage - Econ 483 Computer Exercise 3 Data are on...

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Econ 483. Computer Exercise 3 Data are on the Catalyst Discussion Board (check myUW). Name: Log Wage Equations with the CPS data The data set cps78.dta consists of 550 randomly selected employed workers from the May 1978 Current Population Survey (CPS) conducted by the U.S. Department of Commerce. This is a survey of over 50,000 households conducted monthly, and it serves as the basis for the national employment and unemployment statistics. Data are collected on a number of individual characteristics as well as employment status. The data set cps85.dta consists of 534 randomly selected employed workers from the May 1985 CPS. 1. ED = years of education 2. SOUTH = 1 if lives in south 3. NONWH = 1 if nonwhite 4. HISP = 1 if Hispanic 5. FE = 1 if female 6. MARR = 1 if married with spouse present (in household) 7. MARRFE = 1 if married female with spouse present 8. EX = years of labor market experience (= AGE-ED-6) 9. EXSQ = years of labor market experience squared 10. UNION = 1 if working on a union job 11. LNWAGE = natural logarithm of average hourly earnings 12. AGE = age in years 13. NDEP = # of dependent children under 18 in household 14.

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