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). London School of Economics and Political Science. Centre for Economic Performance, 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 |
| Date Deposited: | 26 Nov 2014 14:21 |
| Last Modified: | 13 Sep 2024 20:28 |
| Funders: | Economic and Social Research Council |
| URI: | http://eprints.lse.ac.uk/id/eprint/60271 |
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