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With regard to minimum wage I think that we should look at the data and to what they tell us. The fact is that there are evidences that both minimum wage supporters and opponents are right. For example, in this paper (https://academic.oup.com/qje/article/134/3/1405/5484905?login=true#140160997) the researchers find that "the overall number of low-wage ...


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I'm not at home in the literature, so I can not tell you if the two decompositions are the same. I can only help you with the derivations. For the BBDF expression, you can simply obtain the first from the second by substituting out $\rho$ and $\rho_\varphi$. For the SPGBV expression things are a bit more tricky. Let $i$ represent the unit and $g$ the group ...


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My understanding is that this assumption is related to the models relying on bias in the observable signal (rather than differential variance or noise of these signals by race). Discounting is less likely to apply to more verifiable and harder skills, because they are more verifiable in nature. Therefore an employer may more easily verify the quality of the ...


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Determinants of Growth are based on both stocks and flows, depending on the nature of the individual factors. As pointed out in previous answers, in simpler theoretical models with only aggregate production, labor is often considered a stock, because labor = labor supply on aggregate, and because intermediate consumption is often ignored in these simpler ...


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From a quick scan, I think what the authors really want to do is see if data they've collected on school quality by state and cohort (table 1) explains returns to education. The point of the interacted cohort/state dummies in equation (1) above is to generate average differences in returns to education by state/cohort (table 2), which they can then use as ...


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