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¿Qué podemos saber sobre el Valor Estadístico de la Vida en España utilizando datos laborales?

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  • Martinez Perez, Jorge Eduardo
  • Mendez Martinez, Ildefonso

Abstract

This paper analyzes what can be learned about the value of a statistical life (VSL) using the hedonic wage model. The time series variation of cross sectional estimates, along with the endogeneity of risk choices and the absence of adequate instruments recommends moving to panel data analysis. These estimates show that the evidence of a positive and significant VSL stems from people changing jobs possibly endogenously. Once again the absence of valid instruments recommends an alternative strategy and we move to identify bounds on the VSL. Controlling for measurement error and individual heterogeneity yields a range for the estimated VSL of 2.8-8.3 million euros. The former number is the lowest-low VSL that the spanish public administration should use in the evaluation of public policies.

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File URL: http://mpra.ub.uni-muenchen.de/11165/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 11165.

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Date of creation: 2008
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Handle: RePEc:pra:mprapa:11165

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Keywords: value of statistical life; hedonic wage model; endogeneity; panel data models;

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References

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  1. Edward Vytlacil & James J. Heckman, 2001. "Policy-Relevant Treatment Effects," American Economic Review, American Economic Association, vol. 91(2), pages 107-111, May.
  2. Hannes Spengler & Sandra Schaffner, 2007. "Using Job Changes to Evaluate the Bias of the Value of a Statistical Life," Discussion Papers of DIW Berlin 713, DIW Berlin, German Institute for Economic Research.
  3. Jason F. Shogren & Tommy Stamland, 2002. "Skill and the Value of Life," Journal of Political Economy, University of Chicago Press, vol. 110(5), pages 1168-1197, October.
  4. Garen, John, 1988. "Compensating Wage Differentials and the Endogeneity of Job Riskiness," The Review of Economics and Statistics, MIT Press, vol. 70(1), pages 9-16, February.
  5. Felice Martinello & Ronald Meng, 1992. "Workplace Risks and the Value of Hazard Avoidance," Canadian Journal of Economics, Canadian Economics Association, vol. 25(2), pages 333-45, May.
  6. Antoni Riera Font & Aina M. Ripoll Penalva & Joseph Mateu Sbert, 2007. "Estimación del valor estadístico de la vida en España: Una aplicación del Método de Salarios Hedónicos," Hacienda Pública Española, IEF, vol. 181(2), pages 29-48, June.
  7. Ashenfelter, Orley, 2006. "Measuring the Value of a Statistical Life: Problems and Prospects," IZA Discussion Papers 1911, Institute for the Study of Labor (IZA).
  8. Hwang, Hae-shin & Reed, W Robert & Hubbard, Carlton, 1992. "Compensating Wage Differentials and Unobserved Productivity," Journal of Political Economy, University of Chicago Press, vol. 100(4), pages 835-58, August.
  9. Ernesto Villanueva, 2007. "Estimating Compensating Wage Differentials Using Voluntary Job Changes: Evidence from Germany," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 60(4), pages 544-561, July.
  10. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January.
  11. Kniesner, Thomas J. & Viscusi, W. Kip & Woock, Christopher & Ziliak, James P., 2007. "Pinning Down the Value of Statistical Life," IZA Discussion Papers 3107, Institute for the Study of Labor (IZA).
  12. Jorge Eduardo Martínez Pérez & Jose Maria Abellán Perpiñán, 2008. "El Valor Monetario de la Vida Estadística en España a través de las Preferencias Declaradas," Economic Working Papers at Centro de Estudios Andaluces E2008/01, Centro de Estudios Andaluces.
  13. W. Kip Viscusi & Joni Hersch, 2001. "Cigarette Smokers As Job Risk Takers," The Review of Economics and Statistics, MIT Press, vol. 83(2), pages 269-280, May.
  14. Arellano, M., 1989. "A Note On The Anderson-Hsiao Estimator For Panel Data," Economics Series Working Papers 9975, University of Oxford, Department of Economics.
  15. James J. Heckman, 2001. "Micro Data, Heterogeneity, and the Evaluation of Public Policy: Nobel Lecture," Journal of Political Economy, University of Chicago Press, vol. 109(4), pages 673-748, August.
  16. Viscusi, W Kip, 1978. "Wealth Effects and Earnings Premiums for Job Hazards," The Review of Economics and Statistics, MIT Press, vol. 60(3), pages 408-16, August.
  17. Javier Alvarez, 2004. "Dynamics and Seasonality in Quarterly Panel Data: An Analysis of Earnings Mobility in Spain," Journal of Business & Economic Statistics, American Statistical Association, vol. 22, pages 443-456, October.
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