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• Κανελλόπουλος, Κώστας Ν.

The present paper analyses the pay differentials among Greek employees in 1964 by making use of a random sample made up of 1076 males employed in commerce and industry in the Athens area. The theoretical background is the standard supply of and demand for labour framework. This leads to an expanded earnings function incorporating personal characteristics (human capital) and job (firm) characteristics. The well known Mincerian type earnings function is modified in a way which allows estimation of the rates of return to firm specific and general training and inclusion of additional variables as well. Estimates of the relationship between earnings and the explanatory variables show that both supply and demand forces do matter in pay determination.

• Economics and Business
• Computer and information sciences

• Labor economics
• Statistics

Περιέχει πίνακες και βιβλιογραφία, This paper is based on chapter two of my Ph.D. thesis submitted to Kent University in December 1980. I am most grateful to Prof. David Metcalf who supervised me, to S. Nickell, G. Psacharopoulos and P. Pavlopoulos for their advice and comments. The University of Athens and the Centre of Planning and Economic Research kindly provided financial support for my studies. Needless to say I am solely responsible for the shortcomings and errors of this paper and opinions expressed are my own.