Using Census Bureau Calculations of Median Earnings to Infer Age-Earnings Profiles: A Cautionary Note
Hachman, Frank, Fjeldsted, Boyd, Journal of Legal Economics
Abstract
U.S. Census Bureau published estimates of median earnings by age, sex and level of educational attainment are commonly used by economic experts for the purpose of projecting future earnings losses. These published estimates, however, should be used with some caution, because of a structural bias in the Census Bureau estimation procedure. We estimate that for the March 2003 Annual Social and Economics Supplement to the Current Population Survey the bias amounts to approximately $562. That is, the 3,116 Census Bureau published estimates of the median for all the economic and demographic subgroups reported in PINC-03 overstate the "true" median, on average, by something in …
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Publication information:
Article title: Using Census Bureau Calculations of Median Earnings to Infer Age-Earnings Profiles: A Cautionary Note.
Contributors: Hachman, Frank - Author, Fjeldsted, Boyd - Author.
Journal title: Journal of Legal Economics.
Volume: 13.
Issue: 3
Publication date: September 2006.
Page number: 19+.
© American Academy of Economic and Financial Experts Aug 2008.
Provided by ProQuest LLC. All Rights Reserved.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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