momentfit (version 0.5)

LabourCR: Labour data from Greene (2012) applications,

Description

A panel data set of 565 individuals from 1976 to 1982 used by Cornwell and Rupert (1988)

Usage

data("LabourCR")

Format

A data frame with 4165 observations on the following 12 variables.

EXP

Year of full time experience.

WKS

Weeks worked.

OCC

1 if blue-collar occupation, 0 otherwise.

IND

1 if works in a manufacture industry, 0 otherwise.

SOUTH

1 if resides in the south, 0 otherwise.

SMSA

1 if resides in an SMSA, 0 otherwise.

MS

1 if married, 0 otherwise.

FEM

1 if the individual is a female and 0 otherwise.

UNION

1 if wage is set by a union contract and 0 otherwise.

ED

Years of education.

BLK

1 if the individual is black and 0 otherwise.

LWAGE

Log wage.

References

Green, W.H.. (2012). Econometric Analysis, 7th edition, Prentice Hall.

Cornwell, C. and Rupert, P. (1988), Efficient Estimation with Panel Data: An Empirical Comparision of Instrumental Variable Estimators, Journal of Applied Econometrics, No.3, 149--155.

Examples

data(LabourCR)
## Table 8.1 of Greene (2012)
## Model with Z2 (iid is assumed in Table 8.1 given the s.e.)
model2 <- momentModel(WKS~LWAGE+ED+UNION+FEM, ~IND+ED+UNION+FEM+SMSA, vcov="iid",
                   data=LabourCR)
## Model with Z1 using the subsetting method '['
model1 <- model2[-6L]

# Second column
res1 <- tsls(model1)
summary(res1)@coef

# Third column
res2 <- tsls(model2)
summary(res2)@coef