Earnings determination and labour markets
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Abstract
The purpose of this study is twofold: first, to ascertain whether or not there are statistical differences in the structure of earnings functions among workers in various sectors of economic activity; second, to provide a test of the human capital approach in the explanation of earning differentials among wage earners. Using individual characteristics of full-time wage earners in Santiago, the results show that the structures of earnings functions are not statistically different across sectors of economic activity. Also, the application of a human capital model shows that about 50 percent of the relative dispersion of earnings may be attributed to differences in schooling and experience.