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Is There a Risk-Return Trade-Off across Occupations? Evidence from SpainLuís Díaz-SerranoNational University of Ireland, Maynooth; Institute for the Study of Labor (IZA) Joop HartogUniversity of Amsterdam - Faculty of Economics and Business (FEB); Tinbergen Institute; CESifo (Center for Economic Studies and Ifo Institute for Economic Research); 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 working papers seriesDate posted: October 22, 2004Suggested CitationContact Information
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