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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/18395| Title: | GEE Estimation of a Two-Equation Panel Data Model: An Analysis of Wage Dynamics and the Incidence of Profit-Sharing in West Germany |
| Keywords: | J33 J31 C35 C33 D31 ddc:330 generalized estimating equations covariance structure longitudinal data real wages variable pay Zeitreihenanalyse Panel Varianzanalyse Reallohn Erfolgsbeteiligung Schätzung Deutschland |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Deutsches Institut für Wirtschaftsforschung (DIW) Berlin |
| Description: | We propose a generalized estimating equations approach to the analysis of the mean and the covariance structure of a bivariate time series process of panel data with mixed continuous and discrete dependent variables. The approach is used to jointly analyze wage dynamics and the incidence of profit-sharing in West Germany. Our findings reveal a significantly positive conditional correlation of wages and the incidence of profit-sharing. Furthermore, they indicate that permanent unobserved individual ability is comparatively more important in the profit-sharing than in the wage equation and show that shocks have a long-lasting effect on transitory wages but not on the incidence of profit-sharing. Hence, the results support theoretical predictions that selection into profit-sharing is mostly due to unobservable ability and that profit-sharing ties wages more closely to productivity. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/18395 |
| Other Identifiers: | http://hdl.handle.net/10419/18395 ppn:523980418 |
| Appears in Collections: | EconStor |
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