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Review of Economic Perspectives

Národohospodárský obzor; The Journal of Masaryk University

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Volume 12, Issue 4 (Dec 2012)

Issues

Supply Side Wage Determinants: Overview of Empirical Literature

Jiří Balcar
  • VSB - Technical University of Ostrava, Economic faculty, Sokolská třída 33, 701 21 Ostrava
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Published Online: 2013-01-29 | DOI: https://doi.org/10.2478/v10135-012-0010-x

Abstract

The list of variables included in wage models has been extended substantially since 1974 when Mincer published his model containing years of schooling and quadratic function of potential experience. This paper provides an overview of the variables most often employed in wage equations, including results from their estimations. Education, experience, particular skills, psychological traits, beauty and health, social capital, characteristics potentially connected with discrimination, individual’s household characteristics and social, cultural and economic background the individual was exposed to during childhood and adolescence, all these are aggregated fields of interest which are discussed in detail. The paper is concluded by the outline of the probable development of research on wage determinants.

Keywords : overview; wage determinants; education; experience; skills; psychological traits; beauty; health; social capital; discrimination; household characteristics; background

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About the article

This paper has been funded by a grant from the Czech Science Foundation (grant number P402/11/2464) for a research on the gender wage gap in Czech Republic


Published Online: 2013-01-29

Published in Print: 2012-12-01


Citation Information: Review of Economic Perspectives, ISSN (Online) 1804-1663, ISSN (Print) 1213-2446, DOI: https://doi.org/10.2478/v10135-012-0010-x.

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