at least in the UC system... Keefe and Wang have a new paper on faculty salaries in economics departments of the UC system, and find that there is a 13-17% premium for economic history, after accounting for campus, seniority, gender, and publications. My guess is that economic history is a tougher field to get hired in (more of a "luxury" item); the scholars that do get in are way better than the marginal candidate in more mainstream fields. Eventually, quality shows and a good university system rewards them accordingly.
Amongst other interesting findings is how much higher pay at UCLA is than at Berkeley... the authors also have a hugely misspecified regression where they claim that they can back out the value of extra publications in different journals... after controlling for rank. This is a classic "controlling for an intermediate outcome" mistake, where an important outcome influenced by what you are interested in - publications - goes on the right hand side, and gives you completely the wrong results. For an interesting example, see the discussion by Andrew Gelman of "Engineers have more sons".
Amongst other interesting findings is how much higher pay at UCLA is than at Berkeley... the authors also have a hugely misspecified regression where they claim that they can back out the value of extra publications in different journals... after controlling for rank. This is a classic "controlling for an intermediate outcome" mistake, where an important outcome influenced by what you are interested in - publications - goes on the right hand side, and gives you completely the wrong results. For an interesting example, see the discussion by Andrew Gelman of "Engineers have more sons".
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