Interpreting Aggregate Wage Growth: The Role of Labor Market Participation
提出一个易用的框架，分析总工资与个体工资的关系，揭示总工资中包含的三个偏差项，并用于解释英国近期总工资和教育回报的变化。
A new and easily implementable framework for the empirical analysis of the relationship between aggregate and individual wages is developed. Aggregate real wages are shown to contain three important bias terms: one associated with the dispersion of individual wages, a second deriving from compositional changes in the (selected) sample of workers, and a third reflecting the distribution of working hours. Their importance for interpreting the path of aggregate wages and of the returns to education for recent experience in Britain is highlighted. A close correspondence between the estimated biases and the patterns of differences shown by aggregate wages is established.