Wages, Housing Prices and Commutes
研究了工资、房价和通勤时间之间的补偿性差异，发现高房价和长通勤会带来显著的工资溢价，且若不处理内生性问题，估计结果会有严重偏差。
Whereas economic theory suggests that, all else equal, workers should be willing to accept disamenities such as higher housing costs and longer commutes only if they are compensated with higher wages, little is known about the magnitude of these compensating differentials. In this article, I address this gap in the literature by estimating an empirical model of the relationship between wages, housing prices and commutes that addresses the simultaneous determination of these variables. The results from the empirical models suggest that the wage premia associated with high housing costs and long commutes are substantial. Furthermore, results from baseline models reveal that estimates of these compensating differentials are seriously biased if endogeneity is not addressed.