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

  • Jorge Eduardo Martínez Pérez


    (Universidad de Murcia)

  • Ildefonso Méndez Martínez


    (Universidad de Murcia)

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.

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Article provided by IEF in its journal Hacienda Pública Española/Revista de Economía Pública.

Volume (Year): 191 (2009)
Issue (Month): 4 (December)
Pages: 73-93

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Handle: RePEc:hpe:journl:y:2009:v:191:i:4:p:73-93
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  1. Orley Ashenfelter, 2005. "Measuring the Value of a Statistical Life: Problems and Prospects," Working Papers 884, Princeton University, Department of Economics, Industrial Relations Section..
  2. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
  3. Arellano, M., 1989. "A Note On The Anderson-Hsiao Estimator For Panel Data," Economics Series Working Papers 9975, University of Oxford, Department of Economics.
  4. Spengler, Hannes & Schaffner, Sandra, 2007. "Using Job Changes to Evaluate the Bias of the Value of a Statistical Life," Ruhr Economic Papers 14, Rheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI), Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
  5. Thomas J. Kniesner & W. Kip Viscusi & Christopher Woock & James P. Ziliak, 2006. "Pinning Down the Value of Statistical Life," Center for Policy Research Working Papers 85, Center for Policy Research, Maxwell School, Syracuse University.
  6. 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.
  7. Edward Vytlacil & James J. Heckman, 2001. "Policy-Relevant Treatment Effects," American Economic Review, American Economic Association, vol. 91(2), pages 107-111, May.
  8. 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.
  9. 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.
  10. 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.
  11. 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.
  12. 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.
  13. 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.
  14. 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.
  15. 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.
  16. 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.
  17. 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.
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