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Econometric Methods for Labour Economics$
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Stephen Bazen

Print publication date: 2011

Print ISBN-13: 9780199576791

Published to Oxford Scholarship Online: January 2012

DOI: 10.1093/acprof:oso/9780199576791.001.0001

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(p.141) Conclusion
Econometric Methods for Labour Economics

Stephen Bazen

Oxford University Press

This chapter presents some concluding thoughts. The aim of this book has been to present the main econometric techniques used by labour economists. It aims to serve as a platform for adapting material already encountered in econometrics classes and textbooks to the empirical analysis of labour market phenomena. There is no conventional wisdom on how to conduct empirical analysis in labour economics. Several approaches coexist, running from structural models with very tight links to economic theory, to so-called ‘model-free’ approaches based on emulating the experimental approach. In practice, most studies in empirical labour economics lie somewhere in between these two benchmarks, and consist of estimating models which are loosely based on theoretical reasoning and specified in a flexible manner so that the data can ‘talk’.

Keywords:   labour economics, econometric analysis, empirical analysis, labour market, experimental approach

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