***Run a regression of the natural logarithm of wage, ln(wage), on age,
age2
, gender.
If age increases from 25 to 26, how are earnings expected to change? If
age increases from 40 to 41, how are earnings expected to change?
***it is often claimed that education is important for earnings. Run a
regression of ln(wage), on
age, age2, gender, and edu. If age increases from 25 to 26, how are
earnings expected to change? If
age increases from 40 to 41, how are earnings expected to change?
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