Empirical Project

Overview

• • Over the course of the semester, you will have a number of empirical projects using a subsample of the PSID data set. 

  • Write a program that computes means, standard deviations, minimums, and maximums of each variable.

  • Use probit and logit models to estimate the effects of reasonable explanatory variables on labor force participation.

  • Use reasonable explanatory variables to explain log wages after controlling for selection bias.

  • Estimate a semiparametric model of labor force participation.

Data

• A description of the data is available here and here.

• The actual data is available for the years 1989, 1990, 1991, and 1992.