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Mincer earnings function
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Mincer earnings function : ウィキペディア英語版
Mincer earnings function
The Mincer earnings function is a single-equation model that explains earnings as a function of schooling and experience, named after Jacob Mincer.〔 --> | url = | format = | accessdate = | doi=10.1086/258055}}〕〔Mincer, J. (1974). ''Schooling, Experience and Earnings''. New York: National Bureau of Economic Research.〕 The equation has been examined on many datasets and Thomas Lemieux argues it is "one of the most widely used models in empirical economics". Typically the logarithm of earnings is modelled as the sum of years of education and a quadratic function of "years of potential experience".〔Lemieux, Thomas. (2006) "The 'Mincer equation' Thirty Years after ''Schooling, Experience, and Earnings''" in ''Jacob Mincer: A Pioneer of Modern Labor Economics'', Shoshanna Grossbard, ed., Springer: New York. pp. 127–145.〕
:\ln y = \ln y_0 + rS + \beta_1 X + \beta_2 X^2
Where the variables have the following meanings; y is earnings (y_0 is the earnings of someone with no education and no experience); S is years of schooling; X is years of potential labour market experience.〔
Sherwin Rosen, in his article celebrating Mincer's contribution, memorably noted that when data was interrogated using this equation one might describe them as having been ''Mincered''.〔 --> | url = | format = | accessdate = | doi=10.1257/jep.6.2.157}}〕
== References ==


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