Chapter 2 employs a directed search model to generate wage dispersion with homogenous workers within a competitive framework. I estimate a version of a directed search model using CPS and NIPA data sets. Results from the generalized method of moments estimation indicate that while the standard model is able to generate wage dispersion within skill groups it is unable to match the skill distribution of workers across industries or the IWD.3.5.4 Cost of Education The cost of education is calibrated to the 4 year tuition expense in addition to the opportunity ... One method would be to take the ratio of educational cost to the present discounted value of a college educated worker.
|Title||:||Essays on the Inter-industry Wage Differential, Human Capital, and Directed Search|
|Publisher||:||ProQuest - 2008|