Hi,

I'm trying to run the mincer wage equation using ols regression with a random effect model. In my survey data, the education and age variables are coded and the years of experience variable was not given

However, mincer stated that the years of experience can be obtained using this formula- Years of education-age-5, but since my education variable and age are in codes, it's quite not straightforward to get the potential years of experience.

I was wondering if I could assume years of education based on the education level and get the midpoint of my age variable(coded 2=18-64) in order to run the mincer wage regression.

Would that be correct? Would it make the result of my thesis bias?

Hope to get a response soon