The relationship between wage growth and wage levels
估计了工资的永久性成分与经验回报率之间的协方差，发现高能力工人的工资增长并不更快，低技能工人的工资增长至少与中等技能工人相当。
Abstract We estimate the covariance between the permanent component of wages and a random coefficient on experience in models both with potential experience and with actual experience. Actual experience is allowed to be arbitrarily correlated with both the permanent component of wages and the random component on experience. We find no evidence that workers of higher ability experience faster wage growth. Our point estimates suggest that a worker with a one standard deviation higher level of permanent ability would have a return to annual potential experience that is 0.61 of a percentage point lower. The analogous point estimate for actual experience is 0.87 of a point lower. Contrary to the popular perception, wage growth among low‐skill workers appears to be at least as high as that for a medium‐skilled worker. Copyright © 2009 John Wiley & Sons, Ltd.