Worklife expectancy is one of the most significant variables employed by economists to calculate the monetary award in cases involving wrongful death or personal injury. We are in the progress of updating the econometric model of worklife expectancy of Millimet et al.
In the coming days and weeks we will be reporting on our progress and providing output tables as we produce them.
Some woklife expectancy references:
Flinn C.J. & Heckman J.J. (1982) “New Methods for Analyzing Structural Models of Labor Force Dynamics” Advances in Econometrics.
Millimet, D., Nieswiadomy, M., Ryu, H. & Slottje, D. (2003). “Estimating worklife expectancy: an econometric approach.” Journal of Econometrics.
Millimet, D. Nieswiadomy, M. & Slottje, D. (2010). “Detailed Estimation of Worklife Expectancy for the Measurement of Human Capital: Accounting for Marriage and Family.” Journal of Economic Surveys.
Nelson, D. (1983). “The use of worklife tables in estimates of lost earning capacity.” Monthly Labor Review.
Nieswiadomy, M., and Silberberg, E. (1988). “Calculating Changes in Worklife Expectancies and Lost Earnings in Personal Injury Cases.” The Journal of Risk and Insurance.
Skoog, G. R. and Ciecka, J.E. (2001). “The Markov (Increment-Decrement) Model of Labor Force Activity: New Results beyond Work-Life Expectancies.” Journal of Legal Economics.