Using Census Bureau Calculations of Median Earnings to Infer Age-Earnings Profiles: A Cautionary Note

From: Journal of Legal Economics | Date: September 1, 2006| Author: | Copyright information

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 ...

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