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A QUALITY‐ADJUSTMENT MODEL OF THE ACADEMIC LABOR MARKET: THE CASE OF ECONOMISTS
Author(s) -
MOORE WILLIAM J.,
NEWMAN ROBERT J.,
RAISIAN JOHN,
THOMAS R. WILLIAM
Publication year - 1983
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/j.1465-7295.1983.tb00629.x
Subject(s) - downstream (manufacturing) , quality (philosophy) , economics , test (biology) , publishing , classical economics , econometrics , microeconomics , operations management , law , political science , paleontology , philosophy , epistemology , biology
This paper uses some new data on the initial academic placements of new Ph.D. economists to test a quality‐adjustment model, which is consistent with the hypothesis that most academic appointments follow a “downstream” pattern. By the use of weighted least squares the authors confirm the importance of the perceived quality of the faculty of the degree granting program, the publishing performance of former graduates of these programs, and the student/faculty ratio of these programs in economics over the period 1960 to 1978. Finally, it is shown that contrary to popular opinion, the extent of the “downstream” pattern has not been magnified in the so‐called buyers markets of the 1970's.