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15-20 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                    8.157509328875911       0.000233879709742
NU                       0.692425582199225       0.022526798097001
P_LOW                    5.088407548416098       0.004358742358660
SIG_WRK                  0.141484014638662       0.011290293852929
ETA                      0.732496121176749       0.037232700143649
SIG_INNOV                0.093421056752674       0.025028310691781
GAM1                     0.026849093395825       0.000614314163267
GAM2                     0.000110881410834       0.000042926979529
GAM3                    -0.000021624191751       0.000000905481363
XI0                      0.430841979587613       0.045705828804757
XI1                      0.925633500104458       0.008402060937258
BETA                     0.297095540457829       0.003879837261874
SIG_FRM                  0.187722181309312       0.006638458365692
CLAM0_0                 15.346361573039156       0.004324873285229
CLAM0_1                 64.942127309830369       0.290327865020613
CLAM1_0                 -2.540536982538553       0.011192788006333
CLAM1_1                  0.331842387446952       0.043355686358717
CKAPPA_0                 1.220861341838915       0.019427751025811
CKAPPA_1                 2.470265429483509       0.271762114313824
CDELTA_0                -4.694665092024416       0.006183611969144
 
OBJECTIVE FUNCTION    10798.4426343965    
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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                                              0.050506315986599       0.063882917006000       0.001112713684104
Experience, t**2                                          -0.000433306790435      -0.001293871637000       0.000080100532568
Experience, t**3                                          -0.000013028330258       0.000003519473000       0.000001710822621
S.d. of residuals (in full panel)                          0.123211691722992       0.135324903407000       0.000758960164689
Skewness of residuals (in full panel)                      0.325909657737001      -0.119627072905000       0.057988248020307
Kurtosis of residuals (in full panel)                      4.041546381979656      24.490165012679999       1.198300952188331
Order 1 autocovariance of residuals (in full panel)       -0.004290654726659      -0.003729566913000       0.000083155296793
Order 2 autocovariance of residuals (in full panel)       -0.001325769346507      -0.000803816930000       0.000044762028719
Order 3 autocovariance of residuals (in full panel)       -0.000463130203468      -0.000564184759000       0.000036532368331
Order 4 autocovariance of residuals (in full panel)       -0.000387774410050      -0.000512456766000       0.000030869723327
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ACCOUNTING DATA
Mean value added (in full panel)                           5.552734176168725       5.553204447602000       0.002311143622258
S.d. of value added (in full panel)                        0.363564612415636       0.399968436473000       0.001778258711509
Skewness of value added (in full panel)                    0.459297104827585       0.306888321512000       0.015907074658601
Kurtosis of value added (in full panel)                    2.736070812462389       3.801885332469000       0.028493478366874
Mean wage (in full panel)                                  5.651849759753619       5.654132878604000       0.002066733447733
S.d. wage (in full panel)                                  0.349644575390864       0.336250579828000       0.001680807058641
Skewness wage (in full panel)                              0.346624944791465       0.340442364606000       0.030470640330241
Kurtosis wage (in full panel)                              3.125865349852973       4.150327224091000       0.135054853194087
Cov. between va and wage (in full panel)                   0.070185135389091       0.027597171489000       0.000786061203376
Cor. between va and wage (in full panel)                   0.552124148874860       0.205199269359895       0.005540905591323
S.d. within-job growth of in value added                   0.261448624264074       0.249414238311000       0.001362851178361
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DURATION DATA
1-S_UE(12)                                                 0.354030040044823       0.375869001390000       0.024939796415770
S_UE(12)-S_UE(24)                                          0.051835141399503       0.049200805895000       0.012382852363840
S_UE(24)-S_UE(36)                                          0.039089217349099       0.024134665355000       0.009716482041433
1-S_EU(12)                                                 0.025114003371850       0.032499085861000       0.001065703576936
S_EU(12)-S_EU(24)                                          0.024875510405525       0.021058423046000       0.000989280108613
S_EU(24)-S_EU(36)                                          0.023418665803949       0.017365852778000       0.001043543456897
1-S_EE(12)                                                 0.212104094039495       0.208595986708000       0.002366171067449
S_EE(12)-S_EE(24)                                          0.150766934017986       0.131919647304000       0.002015976486024
S_EE(24)-S_EE(36)                                          0.109820567675360       0.118828219557000       0.002045249547198
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WAGE REGRESSION (NO LEFT CENSORED JOBS
Non-left-censored seniority, s2                            0.010167715553742       0.015962625763000       0.000881746153446
Non-left-censored seniority, s2**2                         0.000324217140948      -0.000554870149000       0.000162404236707
Non-left-censored seniority, s2**3                        -0.000023612774737      -0.000005319872000       0.000007766312062
Experience, t                                              0.040758512853363       0.033634873707000       0.001126429764040
Experience, t**2                                          -0.000483335459561      -0.000303710109000       0.000085839392063
Experience, t**3                                          -0.000012817683566      -0.000008848448000       0.000001935079688
Mean firm effect (in full panel)                           5.197096202699599       5.222459320524000       0.004042342804100
S.d. of firm effects (in full panel)                       0.176740554645141       0.178765469804000       0.001008401912888
Skewness of firm effects (in full panel)                   0.821891152910572      -0.215874963939000       0.027156877097770
Kurtosis of firm effects (in full panel)                   2.633694656912192       5.347662727989000       0.114686482893075
S.d. of worker effects (in full panel)                     0.167828135501062       0.168330416296000       0.000934189639033
Skewness of worker effects (in full panel)                 0.074266716895925       0.553107621754000       0.030320789829727
Kurtosis of worker effects (in full panel)                 3.060262166785356       6.143426425872000       0.157481519420359
S.d. of residuals (in full panel)                          0.140299156623120       0.145491927456000       0.000537135009872
Skewness of residuals (in full panel)                     -0.112983303409908      -0.195038272565000       0.034510312407069
Kurtosis of residuals (in full panel)                      3.944689006417492      10.094785405866000       0.338060594632834
Order 1 autocovariance of residuals                        0.001822988930055       0.002843781190000       0.000063284514253
Order 2 autocovariance of residuals                       -0.000665405475732       0.000143240896000       0.000040075262824
Order 3 autocovariance of residuals                       -0.001250075853597      -0.001254455867000       0.000039470376715
Order 4 autocovariance of residuals                       -0.001297928361821      -0.001632370230000       0.000033305568322
 
OBJECTIVE FUNCTION    10798.4426343965    
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