Stephen Bazen

in Econometric Methods for Labour Economics

Published in print September 2011 | ISBN: 9780199576791
Published online January 2012 | e-ISBN: 9780191731136 | DOI:

Series: Practical Econometrics


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This chapter presents some concluding thoughts. The aim of this book has been to present the main econometric techniques used by labour economists. It aims to serve as a platform for adapting material already encountered in econometrics classes and textbooks to the empirical analysis of labour market phenomena. There is no conventional wisdom on how to conduct empirical analysis in labour economics. Several approaches coexist, running from structural models with very tight links to economic theory, to so-called ‘model-free’ approaches based on emulating the experimental approach. In practice, most studies in empirical labour economics lie somewhere in between these two benchmarks, and consist of estimating models which are loosely based on theoretical reasoning and specified in a flexible manner so that the data can ‘talk’.

Keywords: labour economics; econometric analysis; empirical analysis; labour market; experimental approach

Chapter.  955 words. 

Subjects: Econometrics and Mathematical Economics

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