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Mandatory Earnings-Related Insurance Rights, Human Capital and the Gender Earnings Gap in Sweden

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Author Info

  • Granqvist, Lena

    (SOFI)

  • Selén, Jan

    (Trade Union Institute for Economic Research)

  • Ståhlberg, Ann-Charlotte

    ()
    (SOFI)

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    Abstract

    Most labour market analyses take money wages as the sole measure of compensation for labour, thus excluding fringe benefits. We examine an extended compensation measure by incorporating mandatory collective earnings-related insurance rights: the rights of individual old age pension, sickness benefit insurance and survivors’ pension. We estimate the return on investment in human capital and the gender earnings gap in a traditional earnings equation. The money wage and the extended wage are used as dependent variables in joint regressions, where a SUR framework enables proper joint cross-equation tests. The main finding is that the inclusion of earnings-related insurance rights does affect the return on education. When these non-wage benefits are included, the gender wage gap decreases by 21 per cent. However, the gender differences in returns to education are severely underestimated when money wage is used as a compensation measure.

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    File URL: http://swopec.hhs.se/fiefwp/papers/WP179.pdf
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    Bibliographic Info

    Paper provided by Trade Union Institute for Economic Research in its series Working Paper Series with number 179.

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    Length: 21 pages
    Date of creation: 07 Oct 2002
    Date of revision:
    Handle: RePEc:hhs:fiefwp:0179

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    Related research

    Keywords: Non-wage benefits; Gender gap; Human capital; Occupational welfare;

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    1. Breusch, T.S. & Pagan, A.R., . "The Lagrange multiplier test and its applications to model specification in econometrics," CORE Discussion Papers RP -412, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    2. Jantti, Markus, 1994. "A More Efficient Estimate of the Effects of Macroeconomic Activity on the Distribution of Income," The Review of Economics and Statistics, MIT Press, vol. 76(2), pages 372-78, May.
    3. B. F. Kiker & Sherrie L. W. Rhine, 1987. "Fringe Benefits and the Earnings Equation: A Test of the Consistency Hypothesis," Journal of Human Resources, University of Wisconsin Press, vol. 22(1), pages 126-137.
    4. Asplund, Rita, . "Essays on Human Capital and Earnings inFinland," ETLA A, The Research Institute of the Finnish Economy, number 18.
    5. Averett, Susan L & Hotchkiss, Julie L, 1995. "The Probability of Receiving Benefits at Different Hours of Work," American Economic Review, American Economic Association, vol. 85(2), pages 276-80, May.
    6. Janet Currie, 1993. "Gender Gaps in Benefits Coverage," NBER Working Papers 4265, National Bureau of Economic Research, Inc.
    7. Even, William E & Macpherson, David A, 1990. "The Gender Gap in Pensions and Wages," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 259-65, May.
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