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Wage Compensation for Risk: The Case of Turkey

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  • Polat, Sezgin

    ()
    (Galatasaray University Economic Research Center)

Abstract

In 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 Info

Paper provided by Galatasaray University Economic Research Center in its series GIAM Working Papers with number 13-11.

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Length: 15 pages
Date of creation: 18 Sep 2013
Date of revision:
Handle: RePEc:ris:giamwp:2013_011

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Keywords: Value of a statistical life; Value of a statistical injury; Hedonic wages; Quantile regression;

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  12. repec:reg:rpubli:282 is not listed on IDEAS
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  14. Wehn-Jyuan Tsai & Jin-Tan Liu & James Hammitt, 2011. "Aggregation Biases in Estimates of the Value per Statistical Life: Evidence from Longitudinal Matched Worker-Firm Data in Taiwan," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 49(3), pages 425-443, July.
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