Because 15 years have elapsed since the publication of their work, there is now an abundance of data, both micro and macro, which was not available at the time of the original B-W research.
In addition, even using the original B-W data their model no longer fits in the period after about 1954.
Section II describes the original B-W model and Section III presents reestimates of that model using the original B-W data, while Section IV describes new data series and model estimates using CPS data.
In a footnote B-W pointed, out that their assumption that [[gamma].sub.3] < 0 was "simply an empirical proposition." They emphasized that a wife's wage was expected to have both a price effect and an income effect, and that the sum of these two effects "may be either positive or negative.
The B-W Model Estimated Using Revised and Updated B-W Data, 1947-83
However, because there were no published data on female wages, B-W performed a number of approximations to estimate this series.
