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Table 10 Augmented log-wage regressions

From: The career prospects of overeducated Americans

  (1) (2)
  ln(HourlyWage) ln(HourlyWage)
Required education (years) 0.095*** (0.0045) 0.107*** (0.0051)
Schooling above required (years) 0.035*** (0.0055) 0.061*** (0.0065)
Schooling below required (years) −0.065*** (0.0070) -0.076*** (0.0074)
Black 0.008 (0.0252) 0.004 (0.0255)
Hispanic 0.043 (0.0339) 0.047 (0.0338)
Female −0.153*** (0.0148) −0.146*** (0.0147)
Born in the USA −0.049 (0.0389) −0.050 (0.0388)
AFQTa 0.110*** (0.0126) 0.112*** (0.0128)
Rotter Scale in 1979 −0.004 (0.0029) −0.004 (0.0029)
Sociability in 1985 0.006 (0.0104) 0.005 (0.0104)
GED (no HS diploma) 0.001 (0.0256) −0.010 (0.0254)
Northeast 0.096*** (0.0191) 0.100*** (0.0189)
South −0.027 (0.0167) −0.022 (0.0167)
West 0.069*** (0.0213) 0.076*** (0.0213)
Unemployment rate 0.001 (0.0032) −0.000 (0.0032)
HH in SMSA 0.129*** (0.0186) 0.130*** (0.0187)
Tenure (1000 weeks) 0.249*** (0.0355) 0.262*** (0.0352)
Work experience (1000 h) 0.035*** (0.0030) 0.036*** (0.0030)
Work experience2 (1000 h) −0.008*** (0.0010) −0.008*** (0.0010)
Number of jobs −0.059*** (0.0069) −0.058*** (0.0069)
Total unemp. (weeks) −0.001*** (0.0002)   
Occupational hazards 0.045*** (0.0066) 0.044*** (0.0066)
Constant 1.063*** (0.1024) 0.989*** (0.1060)
Unemployed (t−1)    −0.077*** (0.0239)
Unemployed (t−2)    −0.029 (0.0183)
Unemployed (t−3)    −0.002 (0.0158)
Unemployed (t−4)    −0.038* (0.0219)
Overeducated (t−1)    −0.042*** (0.0130)
Overeducated (t−2)    −0.038*** (0.0105)
Overeducated (t−3)    −0.035*** (0.0113)
Overeducated (t−4)    −0.021* (0.0127)
Overeducated (t−1), spell ongoing    0.016 (0.0187)
Overeducated (t−2), spell ongoing    0.016 (0.0287)
Overeducated (t−3), spell ongoing    0.017 (0.0385)
Overeducated (t−4), spell ongoing    −0.009 (0.0584)
Adjusted R 2   0.374   0.375
F   113.4   80.4
Observations   12,775   12,775
  1. Model also includes controls for age, mother and father’s education level in 1979, a dummy for living with both parents in 1979, and a dummy for living in an urban area at the time of interview
  2. Model estimated on individuals with 12 years of schooling or higher, at least four years after labor market entry
  3. Unemployment rate (by region) corresponds to the annual unemployment rate for each Census region (BLS Local Area Unemployment Statistics data)
  4. Standard errors are clustered at the individual level
  5. aValues converted to Z-scores
  6. * p<0.10, ** p<0.05, *** p<0.01