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12-14 years of education
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Specification
 
Weight matrix: Inverse of covariance matrix
# Workers                            20000
# Simulations                           10
# Points in F()                        100
# Points in H()                        100
rho fixed at             0.005000000000000
mu fixed at              0.001851851851852
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PARAMETER ESTIMATES
ALPHA                    8.999000036537934       0.000037214748125
NU                       0.699984341668471       0.008740157182338
P_LOW                    4.920245703040607       0.001636445735523
SIG_WRK                  0.094605441422514       0.006562216524484
ETA                      0.702189353907410       0.011200326090094
SIG_INNOV                0.099237678112512       0.008638375419210
GAM1                     0.013634772343624       0.000322651237315
GAM2                    -0.000393776602719       0.000022788240850
GAM3                     0.000001690499428       0.000000432210739
XI0                      0.418518726556210       0.021821429601062
XI1                      0.922291229583571       0.004140948899441
BETA                     0.298466358130957       0.001246288899161
SIG_FRM                  0.170922805832788       0.003155320489746
CLAM0_0                 -0.935025067481156       0.004516059037135
CLAM0_1                 24.466035825230211       0.049845734233777
CLAM1_0                 -2.618041240719200       0.003693616116297
CLAM1_1                  2.361315408742289       0.017333683779665
CKAPPA_0                 0.406740309525756       0.007278411503824
CKAPPA_1                 6.248231800645807       5.431579011483135
CDELTA_0                -4.920760747955772       0.002528382742114
 
OBJECTIVE FUNCTION    69247.4264151300    
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FIT TO INCLUDED MOMENTS AFTER 2ND STEP (1ST COL: SIM MOMENT, 2ND COL: REAL MOMENT, 3RD COL: S.D (BOOTSTRAPPED)
 
WAGE GROWTH REGRESSION
Experience, t                                              0.036985173296212       0.055016276678000       0.000510405895999
Experience, t**2                                          -0.000954673420764      -0.002096426005000       0.000031827365691
Experience, t**3                                           0.000009492975839       0.000028566971000       0.000000585498822
S.d. of residuals (in full panel)                          0.120255476750345       0.127139971267000       0.000159152782405
Skewness of residuals (in full panel)                      0.256731315157398      -0.045988976236000       0.007756610932927
Kurtosis of residuals (in full panel)                      3.754272246315948       7.969162112897000       0.065496351474441
Order 1 autocovariance of residuals (in full panel)       -0.004355527197050      -0.004201564666000       0.000025387000419
Order 2 autocovariance of residuals (in full panel)       -0.001109340099087      -0.000779760547000       0.000016014114996
Order 3 autocovariance of residuals (in full panel)       -0.000384161553661      -0.000506000488000       0.000013946321906
Order 4 autocovariance of residuals (in full panel)       -0.000341734102674      -0.000444486975000       0.000011027425472
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ACCOUNTING DATA
Mean value added (in full panel)                           5.337892972830258       5.346148063165000       0.001030055326296
S.d. of value added (in full panel)                        0.326058964130206       0.347760993661000       0.000846584181546
Skewness of value added (in full panel)                    0.399299943552095       0.451117310894000       0.008236554999367
Kurtosis of value added (in full panel)                    2.663788929618938       3.902640152372000       0.016912587565180
Mean wage (in full panel)                                  5.274831636782383       5.280894012630000       0.000768190844008
S.d. wage (in full panel)                                  0.279893927007045       0.257374238466000       0.000592882030589
Skewness wage (in full panel)                              0.571266055442009       0.624018977989000       0.006154376191844
Kurtosis wage (in full panel)                              3.178618769723319       3.402649013003000       0.014962708164761
Cov. between va and wage (in full panel)                   0.055701871955775       0.023544841032000       0.000286745832741
Cor. between va and wage (in full panel)                   0.610351717031452       0.263056973891169       0.002845641744293
S.d. within-job growth of in value added                   0.237793727953347       0.212446373339000       0.000605609516873
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DURATION DATA
1-S_UE(12)                                                 0.280967858432336       0.537173880842000       0.010295998204622
S_UE(12)-S_UE(24)                                          0.120572238114052       0.050620395543000       0.004979183551277
S_UE(24)-S_UE(36)                                          0.076276440681212       0.017622852981000       0.003511982065800
1-S_EU(12)                                                 0.033058476102896       0.054435411138000       0.000603991642967
S_EU(12)-S_EU(24)                                          0.032946595771591       0.029110882745000       0.000511800589552
S_EU(24)-S_EU(36)                                          0.030757770497662       0.024991086090000       0.000506872111955
1-S_EE(12)                                                 0.173841030038136       0.178729558743000       0.000998580907943
S_EE(12)-S_EE(24)                                          0.128432487619972       0.120150279421000       0.000873264981204
S_EE(24)-S_EE(36)                                          0.096733416077727       0.090493658321000       0.000801681518064
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WAGE REGRESSION (NO LEFT CENSORED JOBS
Non-left-censored seniority, s2                            0.007824876435886       0.017028962177000       0.000301179356373
Non-left-censored seniority, s2**2                         0.000227376945665      -0.001604728951000       0.000051485092765
Non-left-censored seniority, s2**3                        -0.000017090675378       0.000055212930000       0.000002350427155
Experience, t                                              0.027511781366730       0.026823584851000       0.000413054112183
Experience, t**2                                          -0.000943841567185      -0.001006197956000       0.000027906889767
Experience, t**3                                           0.000009629236862       0.000013779987000       0.000000571872276
Mean firm effect (in full panel)                           5.009461054632985       4.999842617288000       0.001790540169237
S.d. of firm effects (in full panel)                       0.161386910169614       0.147979607872000       0.000364506974401
Skewness of firm effects (in full panel)                   0.763170045853154       0.402783557200000       0.009264679060339
Kurtosis of firm effects (in full panel)                   2.496979331861437       4.169808896278000       0.029825939629307
S.d. of worker effects (in full panel)                     0.129100543095772       0.136226286023000       0.000312205084397
Skewness of worker effects (in full panel)                 0.097335346873474       0.733486620646000       0.010336056929779
Kurtosis of worker effects (in full panel)                 3.400482965389263       5.463141386014000       0.042499423907346
S.d. of residuals (in full panel)                          0.128173161007797       0.134375213753000       0.000154927289765
Skewness of residuals (in full panel)                     -0.146183195182727       0.157159950127000       0.004873151585540
Kurtosis of residuals (in full panel)                      3.916701283478241       5.159509314450000       0.021928417977128
Order 1 autocovariance of residuals                        0.001499436410364       0.002404256174000       0.000019474079857
Order 2 autocovariance of residuals                       -0.000575627411824       0.000117988361000       0.000013824627798
Order 3 autocovariance of residuals                       -0.001075043127429      -0.000996993996000       0.000011801618414
Order 4 autocovariance of residuals                       -0.001126203658804      -0.001377893249000       0.000010504181448
 
OBJECTIVE FUNCTION    69247.4264151300    
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