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Biomarkers and long-term labour market outcomes: the case of creatine

Böckerman, Petri, Bryson, Alex, Hakulinen, Christian, Pehkonen, Jaakko, Pulkki-Raback, Laura, Raitakari, Olli and Viinikainen, Jutta (2014) Biomarkers and long-term labour market outcomes: the case of creatine. CEP Discussion Papers (CEPDP1279). Centre for Economic Performance, London School of Economics and Political Science, London, UK.

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Abstract

I evaluate the impact of the UK Working Time Regulations 1998, which introduced mandatory paid holiday entitlement. The regulation gave (nearly) all workers the right to a minimum of 4 weeks of paid holiday per a year. With constant weekly pay this change amounts effectively to an increase in the real hourly wage of about 8.5% for someone going from 0 to 4 weeks paid holiday per year, which should lead to adjustments in employment. For employees I use complementary log-log regression to account for right-censoring of employment spells. I find no increase in the hazard to exit employment within a year after treatment. Adjustments in wages cannot explain this result as they are increasing for the treated groups relative to the control. I also evaluate the long run trend in aggregate employment, using the predicted treatment probabilities in a difference-in-difference framework. Here I find a small and statistically significant decrease in employment. This effect is driven by a trend reversal in employment, coinciding with the treatment.

Item Type: Monograph (Discussion Paper)
Official URL: http://cep.lse.ac.uk/_new/publications/series.asp?...
Additional Information: © 2014 The Authors
Divisions: Centre for Economic Performance
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HD Industries. Land use. Labor
R Medicine > RA Public aspects of medicine > RA0421 Public health. Hygiene. Preventive Medicine
JEL classification: I - Health, Education, and Welfare > I1 - Health > I19 - Other
J - Labor and Demographic Economics > J3 - Wages, Compensation, and Labor Costs
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Date Deposited: 26 Nov 2014 14:21
Last Modified: 20 Feb 2019 03:48
Funders: Economic and Social Research Council
URI: http://eprints.lse.ac.uk/id/eprint/60271

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