Wage Compensation for Risk: The Case of Turkey
AbstractIn this article, I estimate the premium associated with fatal and non-fatal risk within broad industry categories, using ofﬁcial ﬁgures provided by the Ministry of Labor and Social Security and wage data from the 2010 and 2011 Household Labor Force Surveys. The results show only positive and signiﬁcant fatal risk premiums in the manufacturing sector, whereas injury risk premiums exist in both the manufacturing and industry-wide samples. When wage heterogeneity is allowed, fatal risk compensation increases along the distribution, while that of injury risk follows an inverse-u pattern. Compared to similar country cases, the VSL and VSI estimates are relatively small and not signiﬁcant for low wage earners. Industry averages show that longer working hours are correlated with accidents rates which implies the importance of ﬁrm heterogeneity and institutional factors on the high level and variance, particularly for Turkey.
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Bibliographic InfoPaper provided by Galatasaray University Economic Research Center in its series GIAM Working Papers with number 13-11.
Length: 15 pages
Date of creation: 18 Sep 2013
Date of revision:
Value of a statistical life; Value of a statistical injury; Hedonic wages; Quantile regression;
Find related papers by JEL classification:
- J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income
- J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-09-26 (All new papers)
- NEP-ARA-2013-09-26 (MENA - Middle East & North Africa)
- NEP-CWA-2013-09-26 (Central & Western Asia)
- NEP-HEA-2013-09-26 (Health Economics)
- NEP-LAB-2013-09-26 (Labour Economics)
- NEP-LMA-2013-09-26 (Labor Markets - Supply, Demand, & Wages)
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