ECONOMETRICS: Using the information in picture 3a),Fill in the cells in the table below by providing the predicted log wage for each category: Domestic Workers (Min wage changed)Non-Domestic Workers (Min wage did not change)Before After VariableLabelLog hourly wage=1 if After Minimum Wage Law takes effect=1 if Domestic Service WorkerloghwagepostdomesticpostXdomInteraction: Post X DomesticI run a differences-in-differences regression to see if the minimum wage did indeed raisethe wages of domestic workers (i.e. was the law enforced, which is not obvious!):loghwage |Coef.Std. Err.tP>|t|[95% Conf. Interval].0319430.000.0934516post |domestic |.15607984.89.218708-.7097982.0478374-14.840.000-.8035892-.6160071postXdom ||.1339875.06914461.940.053-.0015788.2695537cons1.568741.022535469.610.0001.5245581.612924

We are going to calculate log normal wages in both the cases to answer this question.

Answered: Fill in the cells in the table below by…

Fill in the cells in the table below by providing the predicted log wage for each category: Domestic Workers (Min wage changed) Non-Domestic Workers (Min wage did not change) Before After

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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