Table 4 Parameters of the Mincer equation
From: Pension schemes and labor supply in the formal and informal sector
Coefficients estimated from the Mincer equations | |||
|---|---|---|---|
Name | Symbol | Value | Standard deviation |
Constant formal | \(\alpha ^{f}_{0}\) | 0.2606 | (0.0227) |
Constant informal | \(\alpha ^{i}_{0}\) | 0.3962 | (0.0805) |
Schooling formal | \(\alpha ^{f}_{1}\) | 0.2982 | (0.0027) |
Schooling informal | \(\alpha ^{i}_{1}\) | 0.2707 | (0.0056) |
Experience formal | \(\alpha ^{f}_{2}\) | 0.1622 | (0.0035) |
Experience informal | \(\alpha ^{i}_{2}\) | 0.0979 | (0.0057) |
Experience 2 formal | \(\alpha ^{f}_{3}\) | −0.0117 | (0.0004) |
Experience 2 informal | \(\alpha ^{i}_{3}\) | −0.0077 | (0.0007) |