average hourly earnings
= ln(wage)
years of formal education
years of potential work experience
= ed*ed
= exp*exp
= ed*exp
= 1 if female, = 0 if male
= 1 if male, = 0 if female
industry of employment, 1976
= 1 if in durable manufacturing
= 1 if in construction
= 1 if in nondurable manufacturing
= 1 if in transportation/communcations/utilities
= 1 if in wholesale or retail trade
= 1 if in personal or business services
= 1 if in professional services
= sum of all 7 industry dummies