Robust Estimation of Wage Dispersion with Censored Data: An Application to Occupational Earnings Risk and Risk Attitudes

Autor:	Franz Palm, Thomas Dohmen, Daniel Pollmann
Přispěvatelé:	Macro, International & Labour Economics, RS: GSBE other - not theme-related research, QE Econometrics, RS: GSBE Theme Data-Driven Decision-Making, RS: FSE DACS Mathematics Centre Maastricht
Rok vydání:	2020
Předmět:	jel:D81 jel:C24 jel:D01 DETERMINANTS jel:C21 Risk preferences d81 - Criteria for Decision-Making under Risk and Uncertainty Microeconomic Behavior: Underlying Principles Econometrics Economics c14 - Semiparametric and Nonparametric Methods: General TOBIT ESTIMATOR health care economics and organizations media_common 2-STEP ESTIMATION Semiparametric and Nonparametric Methods: General Wage Level and Structure Wage Differentials Sorting Wage dispersion Criteria for Decision-Making under Risk and Uncertainty jel:J31 Censoring (statistics) jel:C14 Single Equation Models Single Variables: Truncated and Censored Models Switching Regression Models TESTS jel:D1 Single Variables: Cross-Sectional Models Spatial Models Treatment Effect Models Quantile Regressions Economics and Econometrics MISSPECIFICATION Occupational choice media_common.quotation_subject IABS MODELS c21 - "Single Equation Models Quantile Regressions" Wage Sample (statistics) jel:J24 j31 - "Wage Level and Structure Wage Differentials" QUANTILE REGRESSION Human Capital Skills Occupational Choice Labor Productivity Statistical dispersion dispersion estimation earnings risk censoring quantile regression occupational choice sorting risk preferences SOEP IABS j24 - "Human Capital Labor Productivity" Censoring Estimation SAMPLE SELECTION Dispersion estimation Earnings SOEP d01 - Microeconomic Behavior: Underlying Principles c24 - "Single Equation Models Switching Regression Models" Quantile regression Earnings risk INEQUALITY AVERSION
Zdroj:	De Economist, 168(4), 519-540. Springer
ISSN:	1572-9982 0013-063X
DOI:	10.1007/s10645-020-09374-x
Popis:	We present a semiparametric method to estimate group-level dispersion, which is particularly effective in the presence of censored data. We apply this procedure to obtain measures of occupation-specific wage dispersion using top-coded administrative wage data from the German IAB Employment Sample. We then relate these robust measures of earnings risk to the risk attitudes of individuals working in these occupations. We find that willingness to take risk is positively correlated with the wage dispersion of an individual’s occupation.
Databáze:	OpenAIRE
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