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Title: Economic Forecasting with Many Predictors
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1. |
Meng, Fanning |
Economic Forecasting with Many Predictors Ph.D. Dissertation, Department of Economics, University of Tennessee, Knoxville, 2017. Also: http://trace.tennessee.edu/utk_graddiss/4483/ Cohort(s): NLSY79 Publisher: University of Tennessee, Knoxville Keyword(s): College Enrollment; Education, Adult; Educational Returns; Modeling; Wage Effects Permission to reprint the abstract has not been received from the publisher. The third chapter analyzes the wage effects of college enrollment for returning adults based on the NLSY79 data. To improve the estimation efficiency, we apply the double-selection model among time-varying features and individual fixed effects. The empirical results on hourly wage predictions show evidences towards the superiority of double-selection model over a fixed-effect model. Based on the double-selection model, we find significant and positive returns on years of college enrollment for the returning adults. On average, one more year's college enrollment can increase hourly wage of returning adults by $1.12, an estimate that is about 7.7% higher than that from the fixed-effect model. |
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Bibliography Citation
Meng, Fanning. Economic Forecasting with Many Predictors. Ph.D. Dissertation, Department of Economics, University of Tennessee, Knoxville, 2017.. |