3 ms·
At least it's no longer an integer multiple difference between male and female wages. But why would we ever expect them to be 0% different? Recall that natural
by twistedpair 13y ago
At least it's no longer an integer multiple difference between male and female wages.
But why would we ever expect them to be 0% different? Recall that natural unemployment is ~3%. The market and real world are not perfectly efficient and making them perfectly efficient would make them less efficient in the process.
- ameister14 13y agoYeah, sorry I wasn't more clear; specifically the difference is one of wages, not overall employment level. I wouldn't expect uncontrolled wages to be entirely equal. I would expect that eventually controlling for employment history, experience, education etc. would make the difference approach zero, though. I think that'd be good.