The document discusses estimating the gender wage gap while accounting for the presence of efficiency wages. The authors propose a new estimator that separates workers into privileged and standard markets when the separation is endogenous and unobservable. They apply their estimator to linked employer-employee data from EU countries. The results show that women experience barriers accessing the privileged market and that adjusted gender wage gaps differ between the privileged and standard markets. Accounting for efficiency wages, the adjusted gender wage gaps are also different than those estimated without considering efficiency wages.
Pushed into necessity? Gender gaps in the labor market and entrepreneurship o...GRAPE
Theoretical literature on entrepreneurship hints that labor market inequality may constitute a relevant push factor for necessity self-employment, as opposed to aspirational self-employment. Drawing on empirical confirmation, this insight is used in many policy recommendations. We provide a new approach to test and quantify the link between labor market inequality and self-employment. We exploit rich and diverse international data on patterns of self-employment from the Global Entrepreneurship Monitor. We focus on measures of labor market inequality for women, utilizing estimates of adjusted gender wage and gender employment gap, comparable for a large selection of countries and years. Our results show that greater gender disparities in access to and in compensation for wage employment are associated with necessity self-employment, but the effect is small. We find no link for the aspirational self-employment.
Pushed into necessity? Gender gaps in the labor market and entrepreneurship o...GRAPE
Robust evidence for link between GEG/GWG and necessity self-employment among women
Weak or no evidence for aspirations
Previous results were due to country specificity (no macro effects once accounting for country fixed effects)
Estimating gender wage gap in the presence of efficiency wages -- evidence fr...GRAPE
Gender wage gap (adjusted for individual characteristics) as a phenomenon means that women are paid unjustifiably less than men, i.e. below their productivity. Meanwhile, efficiency wages as a phenomenon mean that a group of workers is paid in excess of productivity. However, productivity is typically unobservable, hence it is proxied by some observable characteristics. If efficiency wages are effective only in selected occupations and/or industries, and these happen to be dominated by men, measures of adjusted gender wage gaps will confound (possibly) below productivity compensating of women with above productivity efficiency wage prevalence. We propose to utilize endogenous switching models to estimate adjusted gender wage gaps. We find that without correction for the prevalence of efficiency wages, the estimates of the adjusted gender wage gaps tend to be substantially inflated.
Estimating gender wage gap in the presence of efficiency wages -- evidence fr...GRAPE
Gender wage gap (adjusted for individual characteristics) as a phenomenon means that women are paid unjustifiably less than men, i.e. below their productivity. Meanwhile, efficiency wages as a phenomenon mean that a group of workers is paid in excess of productivity. However, productivity is typically unobservable, hence it is proxied by some observable characteristics. If efficiency wages are effective only in selected occupations and/or industries, and these happen to be dominated by men, measures of adjusted gender wage gaps will confound (possibly) below productivity compensating of women with above productivity efficiency wage prevalence. We propose to utilize endogenous switching models to estimate adjusted gender wage gaps. We find that without correction for the prevalence of efficiency wages, the estimates of the adjusted gender wage gaps tend to be substantially inflated.
Statistical discrimination offers a compelling story to understand gender wage gaps, at least during the early stages of the career. Employers believe that women will get pregnant with a positive probability, which leads to potential losses, eg. costs associated with finding substitutes, potential losses in customers, etc. Employers then have an incentive to offer women lower wages, in order to discount for future losses. If that is the case, lower and delayed fertility should imply lower discount in wages, and consequently reductions in the gender pay gap among entrants.
In order to test for this hypothesis, we collect individual level data from European countries dating back to the early 1990. Having compiled these data, we compute the adjusted gender wage gap for workers at the early stages of their career, that is for those aged 25 to 29. These adjuste differences are obtained using the non-parametric approach pioneered by Nopo. We then regress these measures on macro data on fertility changes. If the statistical discrimination hypothesis is correct, we should expect that the secular decline in fertility observed in Europe over the last 30 years is correlated with lower estimates of the gender wage gap. Our estimates suggest that this is indeed the case. Using the age at first birth as a proxy for fertility, we find that postponing childbirth by an additional year leads to a reduction of .18 in the adjusted gap.
One caveat with this result is that fertility can be endogeneous to wages. If women were to receive higher wages, they might choose to postpone childbirths. To address this issue, we instrument our measure of fertility with the number of years since the introduction of the pill in the country. This measures varies across countries and over time, while at the same time it is fairly exogeneous, as the introduction of the pill occurred several generations back, normally in the mid-60 and 70s. First stage regressions reveal that the instrument correlates well with mean age at first birth. Second stage estimates are still significant, though they are smaller in magnitude. We conclude that recent changes in fertility helped to reduce the gender wage gap among women entering to the labor market.
Statistical gender discrimination: evidence from young workers across four de...GRAPE
Statistical discrimination offers a compelling narrative on gender wage gaps among younger workers. Employers could discount women's wages to adjust for probable costs linked to childbearing. Given trends towards lower and delayed fertility one should observe a lower discount in wages and a reduction in the gender wage gap among entrants. We test this conjecture using estimates of adjusted gender wage gap among young workers from 56 countries. We find that postponing childbirth by a year reduces the adjusted gap by two percentage points (15%). We further benchmark the implied gender inequality with the help of time-use data.
Within occupation wage dispersion and the task content of jobsGRAPE
We test the relation between wage dispersion and the tasks performed by workers within occupations. Using EU data, I find a significant and positive relation between the importance of routine tasks and wage dispersion. Results are robust to several checks.
Within occupation wage dispersion and the task content of jobsGRAPE
We test whether occupations wwhere non-routine tasks are more important are characterized by greater wage dispersion. This assumption is implied by most models of automation, yet it has not been tested earlier. By and large, the research confirms the existence of a relation, even after the inclusion of a generous set of fixed effects and occupation characteristics such as changes in relative employment and alternative measures of dispersion.
Pushed into necessity? Gender gaps in the labor market and entrepreneurship o...GRAPE
Theoretical literature on entrepreneurship hints that labor market inequality may constitute a relevant push factor for necessity self-employment, as opposed to aspirational self-employment. Drawing on empirical confirmation, this insight is used in many policy recommendations. We provide a new approach to test and quantify the link between labor market inequality and self-employment. We exploit rich and diverse international data on patterns of self-employment from the Global Entrepreneurship Monitor. We focus on measures of labor market inequality for women, utilizing estimates of adjusted gender wage and gender employment gap, comparable for a large selection of countries and years. Our results show that greater gender disparities in access to and in compensation for wage employment are associated with necessity self-employment, but the effect is small. We find no link for the aspirational self-employment.
Pushed into necessity? Gender gaps in the labor market and entrepreneurship o...GRAPE
Robust evidence for link between GEG/GWG and necessity self-employment among women
Weak or no evidence for aspirations
Previous results were due to country specificity (no macro effects once accounting for country fixed effects)
Estimating gender wage gap in the presence of efficiency wages -- evidence fr...GRAPE
Gender wage gap (adjusted for individual characteristics) as a phenomenon means that women are paid unjustifiably less than men, i.e. below their productivity. Meanwhile, efficiency wages as a phenomenon mean that a group of workers is paid in excess of productivity. However, productivity is typically unobservable, hence it is proxied by some observable characteristics. If efficiency wages are effective only in selected occupations and/or industries, and these happen to be dominated by men, measures of adjusted gender wage gaps will confound (possibly) below productivity compensating of women with above productivity efficiency wage prevalence. We propose to utilize endogenous switching models to estimate adjusted gender wage gaps. We find that without correction for the prevalence of efficiency wages, the estimates of the adjusted gender wage gaps tend to be substantially inflated.
Estimating gender wage gap in the presence of efficiency wages -- evidence fr...GRAPE
Gender wage gap (adjusted for individual characteristics) as a phenomenon means that women are paid unjustifiably less than men, i.e. below their productivity. Meanwhile, efficiency wages as a phenomenon mean that a group of workers is paid in excess of productivity. However, productivity is typically unobservable, hence it is proxied by some observable characteristics. If efficiency wages are effective only in selected occupations and/or industries, and these happen to be dominated by men, measures of adjusted gender wage gaps will confound (possibly) below productivity compensating of women with above productivity efficiency wage prevalence. We propose to utilize endogenous switching models to estimate adjusted gender wage gaps. We find that without correction for the prevalence of efficiency wages, the estimates of the adjusted gender wage gaps tend to be substantially inflated.
Statistical discrimination offers a compelling story to understand gender wage gaps, at least during the early stages of the career. Employers believe that women will get pregnant with a positive probability, which leads to potential losses, eg. costs associated with finding substitutes, potential losses in customers, etc. Employers then have an incentive to offer women lower wages, in order to discount for future losses. If that is the case, lower and delayed fertility should imply lower discount in wages, and consequently reductions in the gender pay gap among entrants.
In order to test for this hypothesis, we collect individual level data from European countries dating back to the early 1990. Having compiled these data, we compute the adjusted gender wage gap for workers at the early stages of their career, that is for those aged 25 to 29. These adjuste differences are obtained using the non-parametric approach pioneered by Nopo. We then regress these measures on macro data on fertility changes. If the statistical discrimination hypothesis is correct, we should expect that the secular decline in fertility observed in Europe over the last 30 years is correlated with lower estimates of the gender wage gap. Our estimates suggest that this is indeed the case. Using the age at first birth as a proxy for fertility, we find that postponing childbirth by an additional year leads to a reduction of .18 in the adjusted gap.
One caveat with this result is that fertility can be endogeneous to wages. If women were to receive higher wages, they might choose to postpone childbirths. To address this issue, we instrument our measure of fertility with the number of years since the introduction of the pill in the country. This measures varies across countries and over time, while at the same time it is fairly exogeneous, as the introduction of the pill occurred several generations back, normally in the mid-60 and 70s. First stage regressions reveal that the instrument correlates well with mean age at first birth. Second stage estimates are still significant, though they are smaller in magnitude. We conclude that recent changes in fertility helped to reduce the gender wage gap among women entering to the labor market.
Statistical gender discrimination: evidence from young workers across four de...GRAPE
Statistical discrimination offers a compelling narrative on gender wage gaps among younger workers. Employers could discount women's wages to adjust for probable costs linked to childbearing. Given trends towards lower and delayed fertility one should observe a lower discount in wages and a reduction in the gender wage gap among entrants. We test this conjecture using estimates of adjusted gender wage gap among young workers from 56 countries. We find that postponing childbirth by a year reduces the adjusted gap by two percentage points (15%). We further benchmark the implied gender inequality with the help of time-use data.
Within occupation wage dispersion and the task content of jobsGRAPE
We test the relation between wage dispersion and the tasks performed by workers within occupations. Using EU data, I find a significant and positive relation between the importance of routine tasks and wage dispersion. Results are robust to several checks.
Within occupation wage dispersion and the task content of jobsGRAPE
We test whether occupations wwhere non-routine tasks are more important are characterized by greater wage dispersion. This assumption is implied by most models of automation, yet it has not been tested earlier. By and large, the research confirms the existence of a relation, even after the inclusion of a generous set of fixed effects and occupation characteristics such as changes in relative employment and alternative measures of dispersion.
(Gender) tone at the top: the effect of board diversity on gender inequalityGRAPE
The research explores to what extent the presence of women on board affects gender inequality downstream. We find that increasing presence reduces gender inequality. To avoid reverse causality, we propose a new instrument: the share of household consumption in total output. We extend the analysis to recover the effect of a single woman on board (tokenism(
Tone at the top: the effects of gender board diversity on gender wage inequal...GRAPE
We address the gender wage gap in Europe, focusing on the impact of female representation in executive and non-executive boards. We use a novel dataset to identify gender board diversity across European firms, which covers a comprehensive sample of private firms in addition to publicly listed ones. Our study spans three waves of the Structure of Earnings Survey, covering 26 countries and multiple industries. Despite low prevalence of female representation and the complex nature of gender wage inequality, our findings reveal a robust causal link: increased gender diversity significantly decreases the adjusted gender wage gap. We also demonstrate that to meaningfully impact gender wage gaps, the presence of a single female representative in leadership is insufficient.
Statistical discrimination is a possible, rational motive behind the persistent differences in earnings between men and women. Employers could women to bear a larger share of the burden associated with having children, and subsequently discount that on wages. We test the empirical validity of this claim using data from over 50 countries and 40 years. Using IV we find causal evidence consistent with this hypothesis. Postponing birth by one year leads to large falls in the adjusted gender wage gap.
Our popular annual update returns and will cover the latest understanding on Brexit and forthcoming Government consultations and employment law changes.
We study the relationship between gender inequality among youth and fertility timing. We show that postponing fertility by one year leads to a substantial reduction of gender inequality. This finding is consistent with a simple statistical discrimination model, where employers offer lower wages when they anticipated costs related to fertility, and that these costs are higher for female employees.
Technological progress and within occupation inequalityGRAPE
Can the task content of jobs also help to explain dispersion of earnings within occupations? We use administrative data from Europe to indicate that this might be the case. Occupations with a higher share of tasks prone to automation tend to have lower wage dispersion.
Delayed fertility and statistical discrimination against womenGRAPE
Statistical discrimination offers a compelling narrative on gender wage gaps during the early stages of the career. Expecting absences related to child-bearing and child-rearing, the employers discount productivity to adjust for the probable losses such as costs associated with finding substitutes, leaving customers, etc. If that is the case, lower and delayed fertility should imply lower discount in wages, and consequently reductions in the gender pay gap among entrants. We put this conjecture to test against the data. We provide a novel set of estimates of adjusted gender wage gaps among youth for 56 countries spanning four decades. We estimate that postponing childbirth by a year reduce the adjusted gap 2 percentage points (15%). We show that this estimate is consistent with statistical discrimination, but for some countries the estimates of AGWG imply that either statistical discrimination is not accurate or taste-based mechanisms are also at play.
Tax Aspects of Gender Budgeting - Margit SCHRATZENSTALLER (Austria)OECD Governance
Presentation given at the OECD Gender Budgeting Experts Meeting, Vienna, Austria. 18-19 June 2018
For more information see http://www.oecd.org/gov/budgeting/gender-budgeting-experts-meeting-2018.htm
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Revisiting gender board diversity and firm performanceGRAPE
Cel: oszacować wpływ inkluzywności władz spółek na ich wyniki.
Co wiemy?
• Większość firm nie ma równosci płci w organach (ILO, 2015)
• Większość firm nie ma w ogóle kobiet we władzach
Demographic transition and the rise of wealth inequalityGRAPE
We study the contribution of rising longevity to the rise of wealth inequality in the U.S. over the last seventy years. We construct an OLG model with multiple sources of inequality, closely calibrated to the data. Our main finding is that improvements in old-age longevity explain about 30% of the observed rise in wealth inequality. This magnitude is similar to previously emphasized channels associated with income inequality and the tax system. The contribution of demographics is bound to raise wealth inequality further in the decades to come.
Gender board diversity spillovers and the public eyeGRAPE
A range of policy recommendations mandating gender board quotas is based on the idea that "women help women". We analyze potential gender diversity spillovers from supervisory to top managerial positions over three decades in Europe. Contrary to previous studies which worked with stock listed firms or were region locked, we use a large data base of roughly 2 000 000 firms. We find evidence that women do not help women in corporate Europe, unless the firm is stock listed. Only within public firms, going from no woman to at least one woman on supervisory position is associated with a 10-15% higher probability of appointing at least one woman to the executive position. This pattern aligns with various managerial theories, suggesting that external visibility influences corporate gender diversity practices. The study implies that diversity policies, while impactful in public firms, have limited
effectiveness in promoting gender diversity in corporate Europe.
(Gender) tone at the top: the effect of board diversity on gender inequalityGRAPE
The research explores to what extent the presence of women on board affects gender inequality downstream. We find that increasing presence reduces gender inequality. To avoid reverse causality, we propose a new instrument: the share of household consumption in total output. We extend the analysis to recover the effect of a single woman on board (tokenism(
Tone at the top: the effects of gender board diversity on gender wage inequal...GRAPE
We address the gender wage gap in Europe, focusing on the impact of female representation in executive and non-executive boards. We use a novel dataset to identify gender board diversity across European firms, which covers a comprehensive sample of private firms in addition to publicly listed ones. Our study spans three waves of the Structure of Earnings Survey, covering 26 countries and multiple industries. Despite low prevalence of female representation and the complex nature of gender wage inequality, our findings reveal a robust causal link: increased gender diversity significantly decreases the adjusted gender wage gap. We also demonstrate that to meaningfully impact gender wage gaps, the presence of a single female representative in leadership is insufficient.
Statistical discrimination is a possible, rational motive behind the persistent differences in earnings between men and women. Employers could women to bear a larger share of the burden associated with having children, and subsequently discount that on wages. We test the empirical validity of this claim using data from over 50 countries and 40 years. Using IV we find causal evidence consistent with this hypothesis. Postponing birth by one year leads to large falls in the adjusted gender wage gap.
Our popular annual update returns and will cover the latest understanding on Brexit and forthcoming Government consultations and employment law changes.
We study the relationship between gender inequality among youth and fertility timing. We show that postponing fertility by one year leads to a substantial reduction of gender inequality. This finding is consistent with a simple statistical discrimination model, where employers offer lower wages when they anticipated costs related to fertility, and that these costs are higher for female employees.
Technological progress and within occupation inequalityGRAPE
Can the task content of jobs also help to explain dispersion of earnings within occupations? We use administrative data from Europe to indicate that this might be the case. Occupations with a higher share of tasks prone to automation tend to have lower wage dispersion.
Delayed fertility and statistical discrimination against womenGRAPE
Statistical discrimination offers a compelling narrative on gender wage gaps during the early stages of the career. Expecting absences related to child-bearing and child-rearing, the employers discount productivity to adjust for the probable losses such as costs associated with finding substitutes, leaving customers, etc. If that is the case, lower and delayed fertility should imply lower discount in wages, and consequently reductions in the gender pay gap among entrants. We put this conjecture to test against the data. We provide a novel set of estimates of adjusted gender wage gaps among youth for 56 countries spanning four decades. We estimate that postponing childbirth by a year reduce the adjusted gap 2 percentage points (15%). We show that this estimate is consistent with statistical discrimination, but for some countries the estimates of AGWG imply that either statistical discrimination is not accurate or taste-based mechanisms are also at play.
Tax Aspects of Gender Budgeting - Margit SCHRATZENSTALLER (Austria)OECD Governance
Presentation given at the OECD Gender Budgeting Experts Meeting, Vienna, Austria. 18-19 June 2018
For more information see http://www.oecd.org/gov/budgeting/gender-budgeting-experts-meeting-2018.htm
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Revisiting gender board diversity and firm performanceGRAPE
Cel: oszacować wpływ inkluzywności władz spółek na ich wyniki.
Co wiemy?
• Większość firm nie ma równosci płci w organach (ILO, 2015)
• Większość firm nie ma w ogóle kobiet we władzach
Demographic transition and the rise of wealth inequalityGRAPE
We study the contribution of rising longevity to the rise of wealth inequality in the U.S. over the last seventy years. We construct an OLG model with multiple sources of inequality, closely calibrated to the data. Our main finding is that improvements in old-age longevity explain about 30% of the observed rise in wealth inequality. This magnitude is similar to previously emphasized channels associated with income inequality and the tax system. The contribution of demographics is bound to raise wealth inequality further in the decades to come.
Gender board diversity spillovers and the public eyeGRAPE
A range of policy recommendations mandating gender board quotas is based on the idea that "women help women". We analyze potential gender diversity spillovers from supervisory to top managerial positions over three decades in Europe. Contrary to previous studies which worked with stock listed firms or were region locked, we use a large data base of roughly 2 000 000 firms. We find evidence that women do not help women in corporate Europe, unless the firm is stock listed. Only within public firms, going from no woman to at least one woman on supervisory position is associated with a 10-15% higher probability of appointing at least one woman to the executive position. This pattern aligns with various managerial theories, suggesting that external visibility influences corporate gender diversity practices. The study implies that diversity policies, while impactful in public firms, have limited
effectiveness in promoting gender diversity in corporate Europe.
Gender board diversity spillovers and the public eyeGRAPE
A range of policy recommendations mandating gender board quotas is based on the idea that "women help women". We analyze potential gender diversity spillovers from supervisory to top managerial positions over three decades in Europe. Contrary to previous studies which worked with stock listed firms or were region locked, we use a large data base of roughly 2 000 000 firms. We find evidence that women do not help women in corporate Europe, unless the firm is stock listed. Only within public firms, going from no woman to at least one woman on supervisory position is associated with a 10-15\% higher probability of appointing at least one woman to the executive position. This pattern aligns with the Public Eye Managerial Theory, suggesting that external visibility influences corporate gender diversity practices. The study implies that diversity policies, while impactful in public firms, have limited effectiveness in promoting gender diversity in corporate Europe.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large New Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economies, we use this model to provide comparative statics across past and contemporaneous age structures of the working population. Thus, we quantify the extent to which the response of labor markets to adverse TFP shocks and monetary policy shocks becomes muted with the aging of the working population. Our findings have important policy implications for European labor markets and beyond. For example, the working population is expected to further age in Europe, whereas the share of young workers will remain robust in the US. Our results suggest a partial reversal of the European-US unemployment puzzle. Furthermore, with the aging population, lowering inflation volatility is less costly in terms of higher unemployment volatility. It suggests that optimal monetary policy should be more hawkish in the older society.
Evidence concerning inequality in ability to realize aspirations is prevalent: overall, in specialized segments of the labor market, in self-employment and high-aspirations environments. Empirical literature and public debate are full of case studies and comprehensive empirical studies documenting the paramount gap between successful individuals (typically ethnic majority men) and those who are less likely to “make it” (typically ethnic minority and women). So far the drivers of these disparities and their consequences have been studied much less intensively, due to methodological constraints and shortage of appropriate data. This project proposes significant innovations to overcome both types of barriers and push the frontier of the research agenda on equality in reaching aspirations.
Overall, project is interdisciplinary, combining four fields: management, economics, quantitative methods and psychology. An important feature of this project is that it offers a diversified methodological perspective, combining applied microeconometrics, as well as experimental methods.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
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+12349014282
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
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+12349014282
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how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
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when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the what'sapp contact of my personal pi vendor
+12349014282
Estimating gender wage gap in the presence of efficiency wages
1. GWG and efficiency wages
Estimating gender wage gap
in the presence of efficiency wages
Katarzyna Bech and Joanna Tyrowicz
FAME | GRAPE
Warsaw School of Economics
University of Warsaw
European Economic Association, Lisbon, 2017
Bech & Tyrowicz GWG and efficiency wages EEA 2017 1 / 18
2. GWG and efficiency wages
Estimating gender wage gap
in the presence of efficiency wages
Katarzyna Bech and Joanna Tyrowicz
FAME | GRAPE
Warsaw School of Economics
University of Warsaw
European Economic Association, Lisbon, 2017
Bech & Tyrowicz GWG and efficiency wages EEA 2017 2 / 18
3. GWG and efficiency wages
Motivation
Men and women do not appear to be earning the same
Gender wage gaps roughly 10-25% penalty
Weichselbaumer and Winter-Ebmer (2005), Blau and Kahn (2016)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 3 / 18
4. GWG and efficiency wages
Motivation
Men and women do not appear to be earning the same
Gender wage gaps roughly 10-25% penalty
Weichselbaumer and Winter-Ebmer (2005), Blau and Kahn (2016)
Multiplicity of methods to address data and labor market phenomena
reviewed by Fortin et al. (2011) and Tyrowicz et al (2017)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 3 / 18
5. GWG and efficiency wages
Motivation
Men and women do not appear to be earning the same
Gender wage gaps roughly 10-25% penalty
Weichselbaumer and Winter-Ebmer (2005), Blau and Kahn (2016)
Multiplicity of methods to address data and labor market phenomena
reviewed by Fortin et al. (2011) and Tyrowicz et al (2017)
BUT labor markets are segmented
Standard estimates: 15-30% premium
Krueger and Summers (1988), Konings and Walsh (1994)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 3 / 18
6. GWG and efficiency wages
Motivation
Men and women do not appear to be earning the same
Gender wage gaps roughly 10-25% penalty
Weichselbaumer and Winter-Ebmer (2005), Blau and Kahn (2016)
Multiplicity of methods to address data and labor market phenomena
reviewed by Fortin et al. (2011) and Tyrowicz et al (2017)
BUT labor markets are segmented
Standard estimates: 15-30% premium
Krueger and Summers (1988), Konings and Walsh (1994)
individual productivity unobservable
indirect identification, e.g. Weiss (1980) or case study e.g. Campbell (1993)
personnel economics: the performance pay→ focus on disadvantaged groups
Bech & Tyrowicz GWG and efficiency wages EEA 2017 3 / 18
7. GWG and efficiency wages
Motivation
Men and women do not appear to be earning the same
Gender wage gaps roughly 10-25% penalty
Weichselbaumer and Winter-Ebmer (2005), Blau and Kahn (2016)
Multiplicity of methods to address data and labor market phenomena
reviewed by Fortin et al. (2011) and Tyrowicz et al (2017)
BUT labor markets are segmented
Standard estimates: 15-30% premium
Krueger and Summers (1988), Konings and Walsh (1994)
individual productivity unobservable
indirect identification, e.g. Weiss (1980) or case study e.g. Campbell (1993)
personnel economics: the performance pay→ focus on disadvantaged groups
Bulow (1986!) proposes efficiency wages as an explanation for GWG
Bech & Tyrowicz GWG and efficiency wages EEA 2017 3 / 18
8. GWG and efficiency wages
Motivation
Motivation
How efficiency wages and GWG interact?
→ If men receive efficiency wages more frequently, pooled GWG estimates are biased
Bech & Tyrowicz GWG and efficiency wages EEA 2017 4 / 18
9. GWG and efficiency wages
Motivation
Motivation
How efficiency wages and GWG interact?
→ If men receive efficiency wages more frequently, pooled GWG estimates are biased
Gender wage gap: women are paid unjustifiably less than men.
Bech & Tyrowicz GWG and efficiency wages EEA 2017 4 / 18
10. GWG and efficiency wages
Motivation
Motivation
How efficiency wages and GWG interact?
→ If men receive efficiency wages more frequently, pooled GWG estimates are biased
Gender wage gap: women are paid unjustifiably less than men.
Efficiency wages: a group of workers is paid in excess of productivity.
Bech & Tyrowicz GWG and efficiency wages EEA 2017 4 / 18
11. GWG and efficiency wages
Motivation
Motivation
How efficiency wages and GWG interact?
→ If men receive efficiency wages more frequently, pooled GWG estimates are biased
Gender wage gap: women are paid unjustifiably less than men.
Efficiency wages: a group of workers is paid in excess of productivity.
If efficiency wages are selective (occupations and/or industries dominated by men)
then even adjusted GWG will confound
Bech & Tyrowicz GWG and efficiency wages EEA 2017 4 / 18
12. GWG and efficiency wages
Motivation
Motivation
How efficiency wages and GWG interact?
→ If men receive efficiency wages more frequently, pooled GWG estimates are biased
Gender wage gap: women are paid unjustifiably less than men.
Efficiency wages: a group of workers is paid in excess of productivity.
If efficiency wages are selective (occupations and/or industries dominated by men)
then even adjusted GWG will confound
below productivity compensating of women
Bech & Tyrowicz GWG and efficiency wages EEA 2017 4 / 18
13. GWG and efficiency wages
Motivation
Motivation
How efficiency wages and GWG interact?
→ If men receive efficiency wages more frequently, pooled GWG estimates are biased
Gender wage gap: women are paid unjustifiably less than men.
Efficiency wages: a group of workers is paid in excess of productivity.
If efficiency wages are selective (occupations and/or industries dominated by men)
then even adjusted GWG will confound
below productivity compensating of women
with above productivity efficiency wage prevalence.
Bech & Tyrowicz GWG and efficiency wages EEA 2017 4 / 18
14. GWG and efficiency wages
Motivation
What we do
Contribution
We propose a new estimator of the adjusted gender wage gaps
Bech & Tyrowicz GWG and efficiency wages EEA 2017 5 / 18
15. GWG and efficiency wages
Motivation
What we do
Contribution
We propose a new estimator of the adjusted gender wage gaps
which separates workers into privileged and standard markets
Bech & Tyrowicz GWG and efficiency wages EEA 2017 5 / 18
16. GWG and efficiency wages
Motivation
What we do
Contribution
We propose a new estimator of the adjusted gender wage gaps
which separates workers into privileged and standard markets
when separation is endogenous
Bech & Tyrowicz GWG and efficiency wages EEA 2017 5 / 18
17. GWG and efficiency wages
Motivation
What we do
Contribution
We propose a new estimator of the adjusted gender wage gaps
which separates workers into privileged and standard markets
when separation is endogenous
Bech & Tyrowicz GWG and efficiency wages EEA 2017 5 / 18
18. GWG and efficiency wages
Motivation
What we do
Contribution
We propose a new estimator of the adjusted gender wage gaps
which separates workers into privileged and standard markets
when separation is endogenous and unobservable
Bech & Tyrowicz GWG and efficiency wages EEA 2017 5 / 18
19. GWG and efficiency wages
Motivation
What we do
Contribution
We propose a new estimator of the adjusted gender wage gaps
which separates workers into privileged and standard markets
when separation is endogenous and unobservable
We apply our estimator to the EU countries (linked employer-employee data)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 5 / 18
20. GWG and efficiency wages
Motivation
What we do
Contribution
We propose a new estimator of the adjusted gender wage gaps
which separates workers into privileged and standard markets
when separation is endogenous and unobservable
We apply our estimator to the EU countries (linked employer-employee data)
Preview of the results
women experience barriers accessing the privileged market
Bech & Tyrowicz GWG and efficiency wages EEA 2017 5 / 18
21. GWG and efficiency wages
Motivation
What we do
Contribution
We propose a new estimator of the adjusted gender wage gaps
which separates workers into privileged and standard markets
when separation is endogenous and unobservable
We apply our estimator to the EU countries (linked employer-employee data)
Preview of the results
women experience barriers accessing the privileged market
adjusted GWGs differ between the privileged and standard markets
Bech & Tyrowicz GWG and efficiency wages EEA 2017 5 / 18
22. GWG and efficiency wages
Motivation
What we do
Contribution
We propose a new estimator of the adjusted gender wage gaps
which separates workers into privileged and standard markets
when separation is endogenous and unobservable
We apply our estimator to the EU countries (linked employer-employee data)
Preview of the results
women experience barriers accessing the privileged market
adjusted GWGs differ between the privileged and standard markets
accounting for the efficiency wages, adjusted GWGs different than in the pooled
estimation
Bech & Tyrowicz GWG and efficiency wages EEA 2017 5 / 18
23. GWG and efficiency wages
Model
How to model unknown and endogenous split
The model
Yi =
Y1,i iff Y ∗
s,i > 0
Y0,i iff Y ∗
s,i ≤ 0
with
Bech & Tyrowicz GWG and efficiency wages EEA 2017 6 / 18
24. GWG and efficiency wages
Model
How to model unknown and endogenous split
The model
Yi =
Y1,i iff Y ∗
s,i > 0
Y0,i iff Y ∗
s,i ≤ 0
with
Y1,i = Xi β1 + u1,i ← “privileged market”
Y0,i = Xi β0 + u0,i ← “standard market”
Y ∗
s,i = Wi α − vi ← the “split” mechanism
Bech & Tyrowicz GWG and efficiency wages EEA 2017 6 / 18
25. GWG and efficiency wages
Model
How to model unknown and endogenous split
The model
Yi =
Y1,i iff Y ∗
s,i > 0
Y0,i iff Y ∗
s,i ≤ 0
with
Y1,i = Xi β1 + u1,i ← “privileged market”
Y0,i = Xi β0 + u0,i ← “standard market”
Y ∗
s,i = Wi α − vi ← the “split” mechanism
Disturbances are jointly normally distributed with mean 0 and covariance matrix
σ2
1 0 σ1v
0 σ2
0 σ0v
σ1v σ0v σ2
v
.
Bech & Tyrowicz GWG and efficiency wages EEA 2017 6 / 18
26. GWG and efficiency wages
Model
How to model unknown and endogenous split
The difficulty
OLS + probit if disturbances were pairwise uncorrelated and if the sample separation
was known, i.e.
Ii =
1 iff Yi = Y1,i
0 iff Yi = Y0,i
Bech & Tyrowicz GWG and efficiency wages EEA 2017 7 / 18
27. GWG and efficiency wages
Model
How to model unknown and endogenous split
The difficulty
OLS + probit if disturbances were pairwise uncorrelated and if the sample separation
was known, i.e.
Ii =
1 iff Yi = Y1,i
0 iff Yi = Y0,i
Endogenous switching regression if disturbances are correlated, but the sample split
is known (e.g. movestay)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 7 / 18
28. GWG and efficiency wages
Model
How to model unknown and endogenous split
The difficulty
OLS + probit if disturbances were pairwise uncorrelated and if the sample separation
was known, i.e.
Ii =
1 iff Yi = Y1,i
0 iff Yi = Y0,i
Endogenous switching regression if disturbances are correlated, but the sample split
is known (e.g. movestay)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 7 / 18
29. GWG and efficiency wages
Model
How to model unknown and endogenous split
The difficulty
OLS + probit if disturbances were pairwise uncorrelated and if the sample separation
was known, i.e.
Ii =
1 iff Yi = Y1,i
0 iff Yi = Y0,i
Endogenous switching regression if disturbances are correlated, but the sample split
is known (e.g. movestay)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 7 / 18
30. GWG and efficiency wages
Model
Obtaining the sample split
or squeezing blood out of the stone
Endogenous Switching Regression with an unknown sample separation
Neumark and Wascher (1994, ILR) and Hovakimian and Titman (2006, JMC&B)
ln L =
n
∑
i=1
(1 − Ii )
ln φ
u0,i
σ0
− ln σ0 + ln 1 − Φ
Wi α − ρ0
u0,i
σ0
1 − ρ2
0
+ Ii
ln φ
u1,i
σ1
− ln σ1 + ln Φ
Wi α − ρ1
u1,i
σ1
1 − ρ2
1
Bech & Tyrowicz GWG and efficiency wages EEA 2017 8 / 18
31. GWG and efficiency wages
Model
Obtaining the sample split
or squeezing blood out of the stone
Endogenous Switching Regression with an unknown sample separation
Neumark and Wascher (1994, ILR) and Hovakimian and Titman (2006, JMC&B)
expectation maximization algorithm (Dempster et al. 1977; Hartley 1978)
ln L =
n
∑
i=1
(1 − Ii )
ln φ
u0,i
σ0
− ln σ0 + ln 1 − Φ
Wi α − ρ0
u0,i
σ0
1 − ρ2
0
+ Ii
ln φ
u1,i
σ1
− ln σ1 + ln Φ
Wi α − ρ1
u1,i
σ1
1 − ρ2
1
Bech & Tyrowicz GWG and efficiency wages EEA 2017 8 / 18
32. GWG and efficiency wages
Model
Obtaining the sample split
or squeezing blood out of the stone
Table: Variables determining split and determining wages
Variable Switching regression Wage regression
W X
Age Y Y
Gender Y Y
Education Y Y
Occupation Y Y
Industry Y N
Bech & Tyrowicz GWG and efficiency wages EEA 2017 9 / 18
33. GWG and efficiency wages
Model
Obtaining the sample split
or squeezing blood out of the stone
Table: Variables determining split and determining wages
Variable Switching regression Wage regression
W X
Age Y Y
Gender Y Y
Education Y Y
Occupation Y Y
Industry Y N
+ interactions between gender and all other variables.
Bech & Tyrowicz GWG and efficiency wages EEA 2017 9 / 18
34. GWG and efficiency wages
Model
Gender wage gap decomposition
After obtaining the estimates of the sample split
We decompose GWG into six components:
explained and unexplained components from the switching equation
explained and unexplained components from the privileged market equation
explained and unexplained components from the standard market equation
using Oaxaca-Blinder decomposition (any decomposition could be used!)
ln W m − ln W f = β∗
(Xm − Xf ) + Xm(βm − β∗
) + Xf (β∗
− βf ).
The choice of β∗: Sloczy´nski (2015).
Bech & Tyrowicz GWG and efficiency wages EEA 2017 10 / 18
35. GWG and efficiency wages
Results
Data
Data
Structure of Earnings, Eurostat
Linked employer-employee data
The largest individual level data available (100k - 2m observations)
Waves every two years
Comparable methodology
Sample design
All workers in small firms
Random selection of workers in medium and large firms
Only definition of small/medium/large varies across countries
We use 2006 wave, all available countries (few dropped because of missing data)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 11 / 18
36. GWG and efficiency wages
Results
Delineation between standard and privileged market
Splitting the data before obtaining GWG estimates
Where is the “delineation” between privileged and standard markets?
No theoretical definition
In empirical literature, typically 15% of workers receive efficiency wages (prevalence)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 12 / 18
37. GWG and efficiency wages
Results
Delineation between standard and privileged market
Splitting the data before obtaining GWG estimates
Where is the “delineation” between privileged and standard markets?
No theoretical definition
In empirical literature, typically 15% of workers receive efficiency wages (prevalence)
One can pick other thresholds (below or above)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 12 / 18
38. GWG and efficiency wages
Results
Delineation between standard and privileged market
Splitting the data before obtaining GWG estimates
Where is the “delineation” between privileged and standard markets?
No theoretical definition
In empirical literature, typically 15% of workers receive efficiency wages (prevalence)
One can pick other thresholds (below or above)
Follow data: Cramer approach (predicted/imputed allocations to privileged market)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 12 / 18
39. GWG and efficiency wages
Results
Delineation between standard and privileged market
Splitting the data before obtaining GWG estimates
Where is the “delineation” between privileged and standard markets?
No theoretical definition
In empirical literature, typically 15% of workers receive efficiency wages (prevalence)
One can pick other thresholds (below or above)
Follow data: Cramer approach (predicted/imputed allocations to privileged market)
Table: Sample results - Poland
OLS Privileged market Standard market Switching
Split Raw Adj. Raw Adj. Raw Adjusted Raw Adj.
85th 5.0% 23.6% -51.8% 28.3% 13.8% 8.3% 3.9% 6.9%
Bech & Tyrowicz GWG and efficiency wages EEA 2017 12 / 18
40. GWG and efficiency wages
Results
Delineation between standard and privileged market
Splitting the data before obtaining GWG estimates
Where is the “delineation” between privileged and standard markets?
No theoretical definition
In empirical literature, typically 15% of workers receive efficiency wages (prevalence)
One can pick other thresholds (below or above)
Follow data: Cramer approach (predicted/imputed allocations to privileged market)
Table: Sample results - Poland
OLS Privileged market Standard market Switching
Split Raw Adj. Raw Adj. Raw Adjusted Raw Adj.
85th 5.0% 23.6% -51.8% 28.3% 13.8% 8.3% 3.9% 6.9%
75th 5.0% 23.6% -46.7% 27.4% 21.6% 8.1% 3.9% 6.9%
95th 5.0% 23.6% . . 1.8% 7.7% 3.9% 6.9%
Bech & Tyrowicz GWG and efficiency wages EEA 2017 12 / 18
41. GWG and efficiency wages
Results
Delineation between standard and privileged market
Splitting the data before obtaining GWG estimates
Where is the “delineation” between privileged and standard markets?
No theoretical definition
In empirical literature, typically 15% of workers receive efficiency wages (prevalence)
One can pick other thresholds (below or above)
Follow data: Cramer approach (predicted/imputed allocations to privileged market)
Table: Sample results - Poland
OLS Privileged market Standard market Switching
Split Raw Adj. Raw Adj. Raw Adjusted Raw Adj.
85th 5.0% 23.6% -51.8% 28.3% 13.8% 8.3% 3.9% 6.9%
75th 5.0% 23.6% -46.7% 27.4% 21.6% 8.1% 3.9% 6.9%
95th 5.0% 23.6% . . 1.8% 7.7% 3.9% 6.9%
Cramer 5.0% 23.6% -23.7% 26.8% 11.6% 7.8% 3.9% 6.9%
* Cramer at 42%
Bech & Tyrowicz GWG and efficiency wages EEA 2017 12 / 18
42. GWG and efficiency wages
Results
Results
Women experience barriers accessing the privileged market
Switching regression decomposition – raw and adjusted gaps (LPM), 85% split
Bech & Tyrowicz GWG and efficiency wages EEA 2017 13 / 18
43. GWG and efficiency wages
Results
Results
Adjusted GWGs differ between the privileged and standard markets
Scatter plot of the standard vs privileged market estimates, 85% split
Bech & Tyrowicz GWG and efficiency wages EEA 2017 14 / 18
44. GWG and efficiency wages
Results
Results
Accounting for efficiency wages, adjusted GWGs = pooled estimation
Comparing estimates from pooled OLS to endogenous switching regression, 85% split
Bech & Tyrowicz GWG and efficiency wages EEA 2017 15 / 18
45. GWG and efficiency wages
Results
Results
Summary of the results
What was shown and what was not shown (due to time constraints)
Results are qualitatively the same with other sample splits (arbitrary thresholds or
Cramer split)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 16 / 18
46. GWG and efficiency wages
Results
Results
Summary of the results
What was shown and what was not shown (due to time constraints)
Results are qualitatively the same with other sample splits (arbitrary thresholds or
Cramer split)
We test for
Bech & Tyrowicz GWG and efficiency wages EEA 2017 16 / 18
47. GWG and efficiency wages
Results
Results
Summary of the results
What was shown and what was not shown (due to time constraints)
Results are qualitatively the same with other sample splits (arbitrary thresholds or
Cramer split)
We test for
two regimes (if they exist) → they always do
Bech & Tyrowicz GWG and efficiency wages EEA 2017 16 / 18
48. GWG and efficiency wages
Results
Results
Summary of the results
What was shown and what was not shown (due to time constraints)
Results are qualitatively the same with other sample splits (arbitrary thresholds or
Cramer split)
We test for
two regimes (if they exist) → they always do
significance of gender in the selection equation (joint significance on all interactions)
→ they always are
Bech & Tyrowicz GWG and efficiency wages EEA 2017 16 / 18
49. GWG and efficiency wages
Results
Results
Summary of the results
What was shown and what was not shown (due to time constraints)
Results are qualitatively the same with other sample splits (arbitrary thresholds or
Cramer split)
We test for
two regimes (if they exist) → they always do
significance of gender in the selection equation (joint significance on all interactions)
→ they always are
Comparative results – intuitively – make sense:
Bech & Tyrowicz GWG and efficiency wages EEA 2017 16 / 18
50. GWG and efficiency wages
Results
Results
Summary of the results
What was shown and what was not shown (due to time constraints)
Results are qualitatively the same with other sample splits (arbitrary thresholds or
Cramer split)
We test for
two regimes (if they exist) → they always do
significance of gender in the selection equation (joint significance on all interactions)
→ they always are
Comparative results – intuitively – make sense:
countries with more labor market segmentation have OLS more off (e.g. transition
economies, Southern Europe)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 16 / 18
51. GWG and efficiency wages
Results
Results
Summary of the results
What was shown and what was not shown (due to time constraints)
Results are qualitatively the same with other sample splits (arbitrary thresholds or
Cramer split)
We test for
two regimes (if they exist) → they always do
significance of gender in the selection equation (joint significance on all interactions)
→ they always are
Comparative results – intuitively – make sense:
countries with more labor market segmentation have OLS more off (e.g. transition
economies, Southern Europe)
most countries have higher adjusted GWG in privileged market (consistent with
distributional analyses of GWG)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 16 / 18
52. GWG and efficiency wages
Results
Results
Summary of the results
What was shown and what was not shown (due to time constraints)
Results are qualitatively the same with other sample splits (arbitrary thresholds or
Cramer split)
We test for
two regimes (if they exist) → they always do
significance of gender in the selection equation (joint significance on all interactions)
→ they always are
Comparative results – intuitively – make sense:
countries with more labor market segmentation have OLS more off (e.g. transition
economies, Southern Europe)
most countries have higher adjusted GWG in privileged market (consistent with
distributional analyses of GWG)
less adjusted GWG in standard market is a good news: most of the market
“discriminates” less → policy implications for gender mainstreaming policies
Bech & Tyrowicz GWG and efficiency wages EEA 2017 16 / 18
53. GWG and efficiency wages
Conclusions
Conclusion
Starting point: efficiency wages may interact with other sources of labor market
inequality (e.g. biasing estimates of wage gaps). We look at gender (common in all
countries, prevalent wage gaps).
Bech & Tyrowicz GWG and efficiency wages EEA 2017 17 / 18
54. GWG and efficiency wages
Conclusions
Conclusion
Starting point: efficiency wages may interact with other sources of labor market
inequality (e.g. biasing estimates of wage gaps). We look at gender (common in all
countries, prevalent wage gaps).
We find that:
estimates which abstract from labor market segmentation bias estimates of GWG;
access to the privileged market is gendered;
and that wage inequalities differ across markets.
Bech & Tyrowicz GWG and efficiency wages EEA 2017 17 / 18
55. GWG and efficiency wages
Conclusions
Conclusion
Starting point: efficiency wages may interact with other sources of labor market
inequality (e.g. biasing estimates of wage gaps). We look at gender (common in all
countries, prevalent wage gaps).
We find that:
estimates which abstract from labor market segmentation bias estimates of GWG;
access to the privileged market is gendered;
and that wage inequalities differ across markets.
Ahead of us:
More insights on the properties of this estimator
Alternative optimization algorithms (FIML? Bayesian?)
Bech & Tyrowicz GWG and efficiency wages EEA 2017 17 / 18
56. GWG and efficiency wages
Conclusions
Questions?
Thank you for your attention!
w: grape.org.pl
t: grape org
f: grape.org
e: kbech@sgh.waw.pl & j.tyrowicz@grape.org.pl
Bech & Tyrowicz GWG and efficiency wages EEA 2017 18 / 18