TrentReznor
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Report Thread starter 1 year ago
#1
So my lecturer isn't providing any answers to the past paper questions, so would massively appreciate it if you would help me for this one.

The questions are:

A cross-sectional study suggests the following wage equation:
ln(wage)= a + B1EDUC + B2EDUC^2 +B3FEMALE +B4EXPER +B5EXPER*FEMALE + e

(don't know how to get the alpha and beta symbols on here)
FEMALE is a dummy which = 1 if the respondent is female

a) Differentiate ln(wage) with respect to EDUC and interpret your result
b) Differentiate ln(wage) with respect to EXPER and interpret your result

so I think I've done the differentiate part right, for A I got B1 + 2B2EDUC, which I have no idea how to interpret, and for B I got B4+B5FEMALE, but how do I interpret these, if they are correct?
Thanks
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