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Author: Folks, Albert Luke
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Folks, Albert Luke |
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Inter-Industry Wage Differentials and Government Regulation: An Empirical Analysis Ph.D. Dissertation, University of Colorado at Boulder, 1991. DAI-A 52/06, p. 2235, Dec 1991 Cohort(s): NLSY79 Publisher: UMI - University Microfilms, Bell and Howell Information and Learning Keyword(s): Firms; Government Regulation; Wage Differentials Conflicting theories have been developed and several empirical studies have been done that leave unresolved whether rate of return regulated firms pay higher wages than other firms after considering industry and individual characteristics. This analysis attempts to reconcile the results of the previous studies by estimating wage equations using the NLSY data sample to discover whether workers in industries that were regulated with the rate of return form of regulation controlling for individual background and industry characteristics had higher wages than their non-regulated counterparts. In addition, recent inter-industry wage differential studies have identified problems with using OLS estimation of individual wage equations, which was used in the previous studies, but have not looked at the impact of government regulation on wages. This paper will also apply the alternative estimation techniques from the inter-industry wage differential studies to the wage equations to discover whether the problems with OLS make a significant difference in the results. In conclusion, the OLS results while reconciling the previous studies indicate for a sample of workers for all industries and controlling for industry characteristics a positive impact on wages from employment in a rate of return regulated industry. Furthermore, after considering some problems with OLS estimates of individual wage equations with industry average characteristics that the recent inter-industry wage literature has discussed, the results of the analysis indicate that some of the inter-industry wage differentials can still be explained by the existence of the rate of return form of government regulation. This conclusion was made after a comparison of the results from the OLS and GLS estimates of individual wage equations to the estimates from a two step approach which had industry level data determined that the estimates from the two step methodology were inefficient since they provided similar point estimates of the impact of employment in rate of return regulated industries but larger standard errors. [UMI 91-32565] |
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Bibliography Citation
Folks, Albert Luke. Inter-Industry Wage Differentials and Government Regulation: An Empirical Analysis. Ph.D. Dissertation, University of Colorado at Boulder, 1991. DAI-A 52/06, p. 2235, Dec 1991. |