How To Estimate The Union Wage Premium
The formula for the estimate:
lnwit=β1Xu + Σj αjt Iijt + Σf πjt Iijt Uit +εit,Thus where w denotes equals weekly wage of the i, the individual in t years, X is the control variable (education, experience, gender, marriage, part-time work, census divisions, and twelve occupations). Ij is the indicator variable for industry j, U is the indicator variable for union membership and ε is the regression error. The πjt is the union wage premium in industry j in year t.
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