Revisiting The Bell Curve Debate Regarding the Effects of Cognitive Ability on Wages



Table 2: Independent variable is Log of Hourly Wage Rate (Panel Analysis)

2A

2B

2C

2D

Regression Model

Random

Fixed

Random

Fixed

Time Period

1979-1994

1979-1994

1994-2002

1994-2002

Number of Observations

96300

96300

32067

32067

General Intelligence

0.042**

0.050**

(0.003)

(0.005)

Black

-0.012

-0.034*

(0.010)

(0.016)

Black*test

0.014**

0.015**

(0.004)

(0.006)

Hispanic

0.063**

0.056**

(0.010)

(0.016)

Hispanic*test

-0.015**

-0.008

(0.004)

(0.006)

Male

0.224**

0.228**

(0.007)

(0.011)

Male*test

-0.013**

-0.001

(0.003)

(0.004)

Education

0.105**

0.091**

0.100**

0.048**

(0.002)

(0.003)

(0.003)

(0.009)

Job Tenure

0.060**

0.049**

0.034**

0.022**

(0.001)

(0.002)

(0.002)

(0.002)

Job Tenure2

-0.003**

-0.002**

-0.001**

-0.001**

(1.2E-04)

(1.3E-04)

(1.0E-04)

(1.1E-04)

Labor Market Exp

0.086**

0.095**

0.046**

0.073**

(0.001)

(0.001)

(0.004)

(0.005)

Labor Market Exp2

-0.002**

-0.002**

-4.5E-04**

-0.001**

(6.9E-05)

(7.1E-05)

(1.2E-04)

(1.3E-04)

Married

0.040**

0.029**

0.051**

0.012

(0.004)

(0.005)

(0.008)

(0.011)

Children

-0.018**

-0.015**

0.003

4.8E-04

(0.002)

(0.003)

(0.004)

(0.005)

Urban

0.087**

0.059**

0.030**

0.006

(0.006)

(0.007)

(0.007)

(0.008)

Local Unemployment

-0.010**

-0.005**

-0.007**

-0.003*

(0.001)

(0.001)

(0.001)

(0.001)

Constant

-0.182**

0.083*

0.239**

0.803**

(0.023)

(0.042)

(0.058)

(0.114)

R-Squared

0.355

0.284

0.280

0.067

standard errors in parentheses; *significant at 5 percent level

** significant at 1 percent level

27



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