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Risk Attitude and Wage Growth: Replication and Reconstruction

Santiago Budria Rodriguez (), Luis Diaz-Serrano (), Ada Ferrer-i-Carbonell and Joop Hartog

No 4124, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: We replicate Shaw (1996) who found that individual wage growth is higher for individuals with greater preference for risk taking. Expanding her dataset with more American observations and data for Germany, Spain and Italy, we find mixed support for the earlier results. We present and estimate a new model and find that in particular the wage level is sensitive to attitudes towards risk taking.

Keywords: wage growth; post-school investment; risk (search for similar items in EconPapers)
JEL-codes: J24 J30 (search for similar items in EconPapers)
Pages: 65 pages
Date: 2009-04
New Economics Papers: this item is included in nep-edu, nep-lab and nep-ltv
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Published as "Risk-Aversion and Income Growth: Replicating Shaw (1996)" in: Empirical Economics, 2013, 44 (2), 981-1004

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Working Paper: Risk Attitudes and Wage Growth: Replication and Reconstruction (2009) Downloads
Working Paper: Risk Attitude And Wage Growth: Replication And Reconstruction (2009) Downloads
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