Assessing the use of pseudo-panels to estimate the value of statistical life
Felipe Vasquez-Lavin,
Luna Bratti,
Sergio Orrego and
Manuel Barrientos
Authors registered in the RePEc Author Service: Felipe A. Vásquez Lavín
Applied Economics, 2022, vol. 54, issue 34, 3972-3988
Abstract:
In this paper, we estimate the Value of Statistical Life (VSL) for Chile, Colombia, and the United States using a hedonic wage model and a pseudo-panel approach. The VSL is a major component of the cost-benefit analysis of many policies, including public health, transportation safety, and environmental regulation. Using pseudo-panels, also known as synthetic cohort data, to estimate the VSL is relevant for low- and middle-income countries because many do not have panel data but do have repeated cross-sectional information. We conclude that the pseudo-panel approach is a suitable alternative for estimating the VSL when panel data is unavailable.
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:taf:applec:v:54:y:2022:i:34:p:3972-3988
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DOI: 10.1080/00036846.2021.2019186
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