[OPE-L:3052] Re: Marxian Empirical Research

patrick l mason (patrick.l.mason.20@nd.edu)
Wed, 18 Sep 1996 14:45:23 -0700 (PDT)

[ show plain text ]


I do a great deal of work with the Panel Study on Income Dynamics (the US
equilavent of the UK dataset mentioned by you), which includes observations
from 1968-1992. Do you have any papers on your procedure? Would you mind
provide a bit more detail about your econometrics?

thanx, patrick l mason

At 12:24 PM 9/18/96 -0700, you wrote:
>From: Andrew Trigg
>In reply to: Iwao
>Thanks for your very pertinent question.
>(in 3049)
>In the micro approach I propose, multiples of different labour types are
>reduced to simple labour - young unskilled workers of basic education.
>The higher wage returns from more skill, age and education are viewed as
>multiple increases in labour quality.
>However, you are right that wage rates are not necessarily proportional to
>value created and this is a possible problem with previous methods of
>calculating labour values/labour embodied, which assume that wages and
>value created are proportional. To get around this problem the micro
>approach decomposes the wage into two parts: a part which is correlated with
>labour quality and a [a
> part which is not. The wage equation regresses
>wages on characteristics which represent both these influences on the wage.
>The objective is to control for the non-quality related factors such as
>your change in management policy. e.g. if the wage equation was run
>over the 1980s the ascendency of management could be to some extent
>controlled for by, say, a variable showing the number of days lost
>through strikes, or the number of strikes. Obviously there will always
>be severe data limitations since a large part of the variation in
>wages cannot be predicted by a regression equation; but it might just
>improve on approaches which just use raw wages.
>I would be interested to know if there is much of a literature on
>wages and the structure of class relationships in Japan.