IDEAS home Printed from https://ideas.repec.org/p/nbr/nberwo/0121.html
   My bibliography  Save this paper

Analysis of Longitudinal Earnings Data: American Scientists 1960-70

Author

Listed:
  • Lee A. Lillard
  • Yoram Weiss

Abstract

The major findings of this study are as follows: (1) Simple cross section estimates grossly underestimate cohort profiles during the period 1960-70. Furthermore the growth in earnings is not uniform across experience groups and more recent vintages tend to have steeper profiles in most fields. Consequently the rate of return or present value comparisons based on cross sections are likely to be misleading even if the standard adjustment for growth is made. (2) For purposes of estimating mean profiles and mean effects of variables estimates based on pooled independent cross sections are quite close to those based on the more expensive longitudinal data. (3) There are important persistent unmeasured individual effects on both the level and growth of earnings. Consequently, individuals with the same observed characteristics will still have a wide variance in their permanent income.

Suggested Citation

  • Lee A. Lillard & Yoram Weiss, 1976. "Analysis of Longitudinal Earnings Data: American Scientists 1960-70," NBER Working Papers 0121, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:0121
    as

    Download full text from publisher

    File URL: http://www.nber.org/papers/w0121.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Johnson, George E & Stafford, Frank P, 1974. "Lifetime Earnings in a Professional Labor Market: Academic Economists," Journal of Political Economy, University of Chicago Press, vol. 82(3), pages 549-569, May/June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Julian Neira & Marek Kapicka, 2012. "Optimal Taxation in a Life-Cycle Economy with Endogenous Human Capital Formation," 2012 Meeting Papers 1164, Society for Economic Dynamics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Graves, Philip E. & Marchand, James R. & Sexton, Robert L., 2002. "Hedonic wage equations for higher education faculty," Economics of Education Review, Elsevier, vol. 21(5), pages 491-496, October.
    2. Bosquet, Clément & Combes, Pierre-Philippe & Garcia-Penalosa, Cecilia, 2013. "Gender and competition: evidence from academic promotions in France," LSE Research Online Documents on Economics 58350, London School of Economics and Political Science, LSE Library.
    3. Brown, Byron W. & Woodbury, Stephen A., 1998. "Seniority, external labor markets, and faculty pay," The Quarterly Review of Economics and Finance, Elsevier, vol. 38(4), pages 771-798.
    4. Bernt Bratsberg & James F. Ragan Jr. & John T. Warren, 2003. "Negative Returns to Seniority: New Evidence in Academic Markets," ILR Review, Cornell University, ILR School, vol. 56(2), pages 306-323, January.
    5. Ana Maria Takahashi & Shingo Takahashi & Thomas Maloney, 2015. "Gender salary and promotion gaps in Japanese academia: Results from science and engineering," Working Papers EMS_2015_02, Research Institute, International University of Japan.
    6. repec:hal:spmain:info:hdl:2441/1mv0mm6vqb8dibn34slm9vhu6d is not listed on IDEAS
    7. Clément Bosquet & Pierre‐Philippe Combes & Cecilia García‐Peñalosa, 2019. "Gender and Promotions: Evidence from Academic Economists in France," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(3), pages 1020-1053, July.
    8. Daniel S. Hamermesh, 2018. "Citations in Economics: Measurement, Uses, and Impacts," Journal of Economic Literature, American Economic Association, vol. 56(1), pages 115-156, March.
    9. William J. Moore & Robert J. Newman & M. Dek Terrell, 2002. "Academic Economists' Pay and Productivity: A Tale of Two Countries," Departmental Working Papers 2002-16, Department of Economics, Louisiana State University.
    10. Hamermesh, Daniel S., 2018. "Why are professors “Poorly paid”?," Economics of Education Review, Elsevier, vol. 66(C), pages 137-141.
    11. Weiss, Yoram & Lillard, Lee A, 1978. "Experience, Vintage, and Time Effects in the Growth of Earnings: American Scientists, 1960-1970," Journal of Political Economy, University of Chicago Press, vol. 86(3), pages 427-447, June.
    12. Laitner, John & Juster, F Thomas, 1996. "New Evidence on Altruism: A Study of TIAA-CREF Retirees," American Economic Review, American Economic Association, vol. 86(4), pages 893-908, September.
    13. repec:spo:wpecon:info:hdl:2441/6ggbvnr6munghes9oc99l12b6 is not listed on IDEAS
    14. James L. Medoff, 1978. "The Earnings Function: A Glimpse Inside the Black Box," NBER Working Papers 0224, National Bureau of Economic Research, Inc.
    15. Edward N. Wolff & Dennis M. Bushe, 1976. "Age, Education and Occupational Earnings Inequality," NBER Working Papers 0149, National Bureau of Economic Research, Inc.
    16. Yoram Weiss, 1976. "A Multiplicative Model of Investment in Human Capital," NBER Working Papers 0140, National Bureau of Economic Research, Inc.
    17. William J. Moore & Robert J. Newman & Dek Terrell, 2007. "Academic Pay in the United Kingdom and the United States: The Differential Returns to Productivity and the Lifetime Earnings Gap," Southern Economic Journal, John Wiley & Sons, vol. 73(3), pages 717-732, January.
    18. Clément Bosquet & Pierre‐Philippe Combes & Cecilia García‐Peñalosa, 2019. "Gender and Promotions: Evidence from Academic Economists in France," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(3), pages 1020-1053, July.
    19. Van W. Kolpin & Larry D. Singell Jr., 1996. "The Gender Composition and Scholarly Performance of Economics Departments: A Test for Employment Discrimination," ILR Review, Cornell University, ILR School, vol. 49(3), pages 408-423, April.
    20. Daniel S. Hamermesh, 1994. "Facts and Myths about Refereeing," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 153-163, Winter.
    21. J. R. Kearl & Clayne L. Pope, 1983. "Life-Cycles in Income and Wealth," NBER Working Papers 1146, National Bureau of Economic Research, Inc.
    22. Yoram Weiss, 1975. "The Earnings of Scientists, 1960-1970: Experience, Age and Vintage Effects," NBER Working Papers 0099, National Bureau of Economic Research, Inc.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:0121. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/nberrus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.