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The public sector wage premium puzzle

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Author
Wang, Yi
Zhou, Peng
Date
2019-05-18
Acceptance date
2017-09-29
Type
Article
Publisher
Inderscience
ISSN
1757-1170
1757-1189 (online)
Metadata
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Abstract
This paper investigates the public sector wage premium in the UK over the first decade of the 21 st century using both econometric and economic modelling methods. A com- prehensive literature review is conducted to summarise the four popular types of meth- ods adopted by the traditional microeconometric studies. Application of these methods results in an estimated public sector wage premium equal to 6.5% . Indirect inference is then introduced as a new method of testing and estimating a microfounded economic model. All four types of econometric methods can be used as auxiliary models to sum- marise the data features, based on which the distance between the actual data and the model -simulated data is assessed. The selection bias can also be tested in a straightfor- ward way under indirect inference.
Journal/conference proceeding
International Journal of Computational Economics and Econometrics;
Citation
Wang, Y. and Zhou, P. (2019) 'The public sector wage premium puzzle', International Journal of Computational Economics and Econometrics, 9(4). DOI: 10.1504/IJCEE.2019.10021464.
URI
http://hdl.handle.net/10369/10366
DOI
https://doi.org/10.1504/IJCEE.2019.10021464
Description
Article published in International Journal of Computational Economics and Econometrics on 18 May 2019 (online), available at: https://doi.org/10.1504/IJCEE.2019.10021464.
Sponsorship
Cardiff Metropolitan University (Grant ID: Cardiff Metropolian (Internal))
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