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Workplace risks and wages: Canadian evidence from alternative models

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  • Morley Gunderson
  • Douglas Hyatt

Abstract

Three alternative models of compensating wage premiums for risk are estimated: the conventional OLS wage regression; an endogenous risk model that accounts for the simultaneity that may occur if workers of high potential earnings prefer safer jobs; and a self-selection model to account for the possibility that workers sort into jobs based on unobserved tolerance for risk that affects their productivity in dangerous work environments. The results suggest that the existing Canadian estimates, which have been based on the basic model, may seriously underestimate the wage premium for risk and hence the implied cost of fatal and non-fatal injuries.

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Bibliographic Info

Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 34 (2001)
Issue (Month): 2 (May)
Pages: 377-395

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Handle: RePEc:cje:issued:v:34:y:2001:i:2:p:377-395

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Postal: Canadian Economics Association Prof. Steven Ambler, Secretary-Treasurer c/o Olivier Lebert, CEA/CJE/CPP Office C.P. 35006, 1221 Fleury Est Montréal, Québec, Canada H2C 3K4
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Cited by:
  1. John F. Heliwell & Haifang Huang, 2005. "How's the Job? Well-Being and Social Capital in the Workplace," NBER Working Papers 11759, National Bureau of Economic Research, Inc.
  2. Ikuho Kochi & Bryan Hubbell & Randall Kramer, 2006. "An Empirical Bayes Approach to Combining and Comparing Estimates of the Value of a Statistical Life for Environmental Policy Analysis," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 34(3), pages 385-406, July.
  3. Polat, Sezgin, 2013. "Wage Compensation for Risk: The Case of Turkey," GIAM Working Papers 13-11, Galatasaray University Economic Research Center.
  4. Bellavance, Franois & Dionne, Georges & Lebeau, Martin, 2009. "The value of a statistical life: A meta-analysis with a mixed effects regression model," Journal of Health Economics, Elsevier, vol. 28(2), pages 444-464, March.
  5. Heywood, John S. & Siebert, W. Stanley & Wei, Xiangdong, 2005. "The Implicit Costs and Benefits of Family Friendly Work Practices," IZA Discussion Papers 1581, Institute for the Study of Labor (IZA).

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