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- Title
Small-sample bias in synthetic cohort models of labor supply.
- Authors
Devereux, Paul J.
- Abstract
This paper investigates small-sample biases in synthetic cohort models (repeated cross-sectional data grouped at the cohort and year level) in the context of a female labor supply model. I use the Current Population Survey to compare estimates when group sizes are extremely large to those that arise from randomly drawing subsamples of observations from the large groups. I augment this approach with Monte Carlo analysis so as to precisely quantify biases and coverage rates. In this particular application, thousands of observations per group are required before small-sample issues can be ignored in estimation and sampling error leads to large downward biases in the estimated income elasticity. Copyright © 2007 John Wiley & Sons, Ltd.
- Subjects
COHORT analysis; LABOR supply; LABOR; INCOME; LABOR market
- Publication
Journal of Applied Econometrics, 2007, Vol 22, Issue 4, p839
- ISSN
0883-7252
- Publication type
Article
- DOI
10.1002/jae.938