Abstract

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Is There a Risk-Return Trade-Off across Occupations? Evidence from Spain


Luís Díaz-Serrano


National University of Ireland, Maynooth; Institute for the Study of Labor (IZA)

Joop Hartog


University of Amsterdam - Faculty of Economics and Business (FEB); Tinbergen Institute; CESifo (Center for Economic Studies and Ifo Institute); Institute for the Study of Labor (IZA)

October 2004

IZA Discussion Paper No. 1355

Abstract:     
We use data from Spain to test for an effect of earnings risk and skewness on individual wages. We carry out separate estimation for men, women, public and private sector employees. In accordance with previous evidence for the US we show the existence of a risk-return trade-off across occupations in the Spanish labour market. These results are in conformity with preferences of risk-averse individuals with decreasing absolute risk aversion.

Number of Pages in PDF File: 26

Keywords: risk-aversion, skewness affection, occupational choices, compensating wage differentials

JEL Classification: J3, D8

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Date posted: October 22, 2004  

Suggested Citation

Díaz-Serrano, Luís and Hartog, Joop, Is There a Risk-Return Trade-Off across Occupations? Evidence from Spain (October 2004). IZA Discussion Paper No. 1355. Available at SSRN: http://ssrn.com/abstract=609061

Contact Information

Luís Díaz-Serrano (Contact Author)
National University of Ireland, Maynooth ( email )
Maynooth, County Kildare
Ireland
Institute for the Study of Labor (IZA)
P.O. Box 7240
Bonn, D-53072
Germany
Joop Hartog
University of Amsterdam - Faculty of Economics and Business (FEB) ( email )
Roetersstraat 11
Amsterdam, 1018 WB
Netherlands
Tinbergen Institute
Burg. Oudlaan 50
Rotterdam, 3062 PA
Netherlands
CESifo (Center for Economic Studies and Ifo Institute)
Poschinger Str. 5
Munich, DE-81679
Germany
Institute for the Study of Labor (IZA)
P.O. Box 7240
Bonn, D-53072
Germany
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