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- Note: Weighted data for 2016 for heads and their spouses who were between 25 and 64 years of age, who earned an hourly wage of at least US$2, and who worked for at least 26 weeks. Non-farming, non-military, non-self-employed wage and salary workers. Excluding all persons with missing values for any of the explanatory variables of the wage regressions. Table 2: Comparison of Different Regression Models.
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- Significance codes: 0 ‘***’ 0.001 ‘**’ 0.01 ‘*’ 0.05 ‘◦ ’ 0.1, significance codes for POSTLASSO estimates calculated by the method proposed by Belloni, Chernozhukov and Kato (2014).
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- Weighted data for 2016 for heads and their spouses who were between 25 and 64 years of age, who earned an hourly wage of at least US$2, and who worked for at least 26 weeks. Non-farming, non-military, non-self-employed wage and salary workers. Excluding all persons with missing values for any of the explanatory variables of the wage regressions.
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- Weighted data for 2016 for heads and their spouses who were between 25 and 64 years of age, who earned an hourly wage of at least US$2, and who worked for at least 26 weeks. Non-farming, non-military, non-self-employed wage and salary workers. Excluding all persons with missing values for any of the explanatory variables of the wage regressions. N = 3,390 women and 2,985 men.
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- Weighted data for 2016 for heads and their spouses who were between 25 and 64 years of age, who earned an hourly wage of at least US$2, and who worked for at least 26 weeks. Non-farming, non-military, non-self-employed wage and salary workers. Excluding all persons with missing values for any of the explanatory variables of the wage regressions. N = 3,390 women and 2,985 men.
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- Women Men OLSall POSTLASSO OLSall POSTLASSO # observations 3,390 3,390 2,985 2,985 # coefficients 73 57 73 57 σ̂2 MPE 0.2013 0.2003 0.2321 0.2302 adj. R2 0.5014 0.4983 0.5291 0.5262 Note: The table shows number of non-zero coefficients generated by different models, the error variance estimated based on the mean squared prediction error generated by cross-validation, and the adjusted coefficient of determination for different models by gender. OLSall is based on an OLS specification that uses all explanatory variables. POSTLASSO is a re-estimation by OLS-regression of the wage regressions including only the explanatory variables selected by the LASSO-estimator according to the one standard error rule.
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- Year Women Men Women − Men # of observations 2006 2,756 2,451 305 2016 3,390 2,985 405 Source: Authors’ calculations. Data from PSID.
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