This document describes a study that uses a new method to identify age penalties in women's wages in Germany. The study extends an existing decomposition method to separate the effects of cohort, time, and age on the gender wage gap. The researchers use long-term panel data from Germany and control for factors like education, experience, and household characteristics. Their results show that the adjusted gender wage gap changes as women age through their careers, with some cohorts experiencing wider gaps and others narrower gaps at different points. The researchers control for non-working years by including working for a wage in their statistical model.
We presented in Ireland our joint work on age penalty in women's wages. Buildingon the DiNardo Fortin and Lemieux decomposition, we separate age-cohort-year effects. The results show that the gender wage gap increases with age, possibly in a non-monotonic fashion.
An analysis of how the gender wage gap evolved over time. We separate the effects of cohort and age and demonstrate that the gender wage gap increases as women age. This increases are non-monotonic and depend on women's earnings.
We explore the changes in the gender wage gap as women age. For this, we build on the DiNardo, Fortin and Lemieux decomposition to separate age and cohort effects. Our results suggest that the differences in wages increase during the life-cycle, possibly in a non-monotonic fashion. In turn, our results imply that policies addressing this issue should also consider age effects.
Using data from Germany, we explore how the gender wage gap evolves as workers get older. Our method, based on panel data, allows to disentangle effects of age-cohort-year. We discover that the penalization grows faster during the reproductive period, and it does not fall afterwards. These results call for policies aimed to correct inequalities among older workers.
Differences in Gender wage gap over life cycleGRAPE
We explore the penalties experienced by women as they age. We use the German SOEP to track their wages from the early stages in their career till retirement. We found that the GWG has step increase at the beginning of the career to become flatter after the productive age (over 45 years old). The results indicate that adequate policy action to reduce the GWG should take the age dimension into account.
Female access to the labor market and wages over transitionGRAPE
We describe the employment and gender gaps and its evolution during the transition process. Using non-parametric estimates, we find that variation is driven by country specific factors.
How (Not) to Make Women Work? Evidence from Transition CountriesGRAPE
We explore the reasons behind the fall of female employment rates in transition economies and compare them to the evolution in advanced economies. Using a large set of micro level databases, we find that the mechanisms that lead to an increasing female presence in the labor market (higher education and postponing marriage) do not seem to play a role in transition economies.
We presented in Ireland our joint work on age penalty in women's wages. Buildingon the DiNardo Fortin and Lemieux decomposition, we separate age-cohort-year effects. The results show that the gender wage gap increases with age, possibly in a non-monotonic fashion.
An analysis of how the gender wage gap evolved over time. We separate the effects of cohort and age and demonstrate that the gender wage gap increases as women age. This increases are non-monotonic and depend on women's earnings.
We explore the changes in the gender wage gap as women age. For this, we build on the DiNardo, Fortin and Lemieux decomposition to separate age and cohort effects. Our results suggest that the differences in wages increase during the life-cycle, possibly in a non-monotonic fashion. In turn, our results imply that policies addressing this issue should also consider age effects.
Using data from Germany, we explore how the gender wage gap evolves as workers get older. Our method, based on panel data, allows to disentangle effects of age-cohort-year. We discover that the penalization grows faster during the reproductive period, and it does not fall afterwards. These results call for policies aimed to correct inequalities among older workers.
Differences in Gender wage gap over life cycleGRAPE
We explore the penalties experienced by women as they age. We use the German SOEP to track their wages from the early stages in their career till retirement. We found that the GWG has step increase at the beginning of the career to become flatter after the productive age (over 45 years old). The results indicate that adequate policy action to reduce the GWG should take the age dimension into account.
Female access to the labor market and wages over transitionGRAPE
We describe the employment and gender gaps and its evolution during the transition process. Using non-parametric estimates, we find that variation is driven by country specific factors.
How (Not) to Make Women Work? Evidence from Transition CountriesGRAPE
We explore the reasons behind the fall of female employment rates in transition economies and compare them to the evolution in advanced economies. Using a large set of micro level databases, we find that the mechanisms that lead to an increasing female presence in the labor market (higher education and postponing marriage) do not seem to play a role in transition economies.
we study the size and evolution of the gender wage gap in Poland. We employ two different methods a parametric Oaxaca-Blinder decomposition and the non-parametric Nopo decomoposition. We show that since transition the adjusted gender wage gap in Poland was always larger than the raw gap.
Gender wage gap in Poland: Can it be explained by differences in observable c...GRAPE
We analyze the evolution of the gender wage gap in Poland since transition. Using a Nopo decomposition, we find that differences in characteristics indicate that women should perceive higher wages.
We explore the reasons behind the fall of female employment rates in transition economies and compare them to the evolution in advanced economies. Using a large set of micro level databases, we find that the mechanisms that lead to an increasing female presence in the labor market (higher education and postponing marriage) do not seem to play a role in transition economies.
Women in transition and today: what do they want, realize, and experience in ...GRAPE
In this work, we construct the measures that have a potential to reflect the willingness
and possibilities of women to work, as well as their attitudes towards equal positions of women and men on the labour market. We implement decomposition techniques to control for individual characteristics when comparing women and men within selected measures, as well as to extract the cohort effects for analysed changes.
Women in transition and today: what do they want, realize, and experience in ...GRAPE
In this work, we construct the measures that have a potential to reflect the willingness
and possibilities of women to work, as well as their attitudes towards equal positions of women and men on the labour market. We implement decomposition techniques to control for individual characteristics when comparing women and men within selected measures, as well as to extract the cohort effects for analysed changes.
UK CIPD Report On Age Gender And The Jobs Recession in the ukKrishna De
The Chartered Institute of Personnel and Development (CIPD) in the UK looks at how the jobs recession that began in 2008 has affected men and women across the age spectrum.
Find the original report here http://www.cipd.co.uk/publicpolicy/_work-audit180412
In the paper we test the new Phillips curve for Central and Eastern European EU accession countries for the period from 1990 to 2002 and use it to compare the efficiency of the traditional Phillips curve. More specifically, we want to see whether real marginal cost, which includes labor productivity and real wage components, can account for inflation dynamics in the observed sample. Surprisingly, when observing all eight selected countries, the relation between real marginal cost and inflation is opposite than expected. On the other hand, inflation in Baltic States and Slovenia seems to be influenced by real marginal cost. The elasticity coefficient of real wages on inflation for Slovenia shows that inflation was quite responsive to movement in wages during the total period, however, inflation became quite inelastic with respect to wages after 2000. Thus, economic policies that were introduced in Slovenia after 2000 were quite efficient in wage regulation, although the real effect will be observed in a more advanced period.
Differences in earnings between men and women differ across time and countries. Yet, explanations for these changes, after taking into account worker characteristics, are lacking. In this research we study the relation between differences in earnings and movements in the labor market in transition countries. We find that periods of high churning are related to larger gender wage gaps.
Gender wage gap in Poland: Can it be explained by differences in observable c...GRAPE
We describe the evolution of the gender wage gap in Poland since transition. The results suggest that it was rather stable over time and that it cannot be explained by characteristics. If anything, women should be earning more than men!!!
Female access to the labor market and wages over transitionGRAPE
We analyze the differences in wages and employment in transition economies in the post transformation period. Using non parametric methods we found that countries differ to a great extent in the paths followed and that institutional features alone fail to explain variation.
Female access to the labor market and wages over transitionGRAPE
Female participation dropped in Central and Eastern Europe following the transition to a liberal market structure. We analyze the effects of such developments on wage differences. our results show that country heterogeneity matters, but also that when female participation is larger, the unexplained component of the gap is smaller.
We use several models to estimate the gender wage gap and compare the results. Our comparisons suggest that all methods produce similar results, though dispersion within each of them varies.
Women in transition and today: what do they want, realize, and experience in ...GRAPE
In this work, we construct the measures that have a potential to reflect the willingness
and possibilities of women to work, as well as their attitudes towards equal positions of women and men on the labour market. We implement decomposition techniques to control for individual characteristics when comparing women and men within selected measures, as well as to extract the cohort effects for analysed changes.
Female access to the labor market and wages over transitionGRAPE
We analyze the differences in wages and employment in transition economies in the post transformation period. Using non parametric methods we found that countries differ to a great extent in the paths followed and that institutional features alone fail to explain variation.
Female Access to the Labor Market and Wages Over Transition: A Multicountry A...GRAPE
We analyze the differences in wages and employment in transition economies in the post transformation period. Using non parametric methods we found that countries differ to a great extent in the paths followed and that institutional features alone fail to explain variation.
Dostęp kobiet do rynku pracy i płac w kontekście transformacjii gospodarczejGRAPE
We analyze the differences in wages and employment in transition economies in the post transformation period. Using non parametric methods we found that countries differ to a great extent in the paths followed and that institutional features alone fail to explain variation.
we study the size and evolution of the gender wage gap in Poland. We employ two different methods a parametric Oaxaca-Blinder decomposition and the non-parametric Nopo decomoposition. We show that since transition the adjusted gender wage gap in Poland was always larger than the raw gap.
Gender wage gap in Poland: Can it be explained by differences in observable c...GRAPE
We analyze the evolution of the gender wage gap in Poland since transition. Using a Nopo decomposition, we find that differences in characteristics indicate that women should perceive higher wages.
We explore the reasons behind the fall of female employment rates in transition economies and compare them to the evolution in advanced economies. Using a large set of micro level databases, we find that the mechanisms that lead to an increasing female presence in the labor market (higher education and postponing marriage) do not seem to play a role in transition economies.
Women in transition and today: what do they want, realize, and experience in ...GRAPE
In this work, we construct the measures that have a potential to reflect the willingness
and possibilities of women to work, as well as their attitudes towards equal positions of women and men on the labour market. We implement decomposition techniques to control for individual characteristics when comparing women and men within selected measures, as well as to extract the cohort effects for analysed changes.
Women in transition and today: what do they want, realize, and experience in ...GRAPE
In this work, we construct the measures that have a potential to reflect the willingness
and possibilities of women to work, as well as their attitudes towards equal positions of women and men on the labour market. We implement decomposition techniques to control for individual characteristics when comparing women and men within selected measures, as well as to extract the cohort effects for analysed changes.
UK CIPD Report On Age Gender And The Jobs Recession in the ukKrishna De
The Chartered Institute of Personnel and Development (CIPD) in the UK looks at how the jobs recession that began in 2008 has affected men and women across the age spectrum.
Find the original report here http://www.cipd.co.uk/publicpolicy/_work-audit180412
In the paper we test the new Phillips curve for Central and Eastern European EU accession countries for the period from 1990 to 2002 and use it to compare the efficiency of the traditional Phillips curve. More specifically, we want to see whether real marginal cost, which includes labor productivity and real wage components, can account for inflation dynamics in the observed sample. Surprisingly, when observing all eight selected countries, the relation between real marginal cost and inflation is opposite than expected. On the other hand, inflation in Baltic States and Slovenia seems to be influenced by real marginal cost. The elasticity coefficient of real wages on inflation for Slovenia shows that inflation was quite responsive to movement in wages during the total period, however, inflation became quite inelastic with respect to wages after 2000. Thus, economic policies that were introduced in Slovenia after 2000 were quite efficient in wage regulation, although the real effect will be observed in a more advanced period.
Differences in earnings between men and women differ across time and countries. Yet, explanations for these changes, after taking into account worker characteristics, are lacking. In this research we study the relation between differences in earnings and movements in the labor market in transition countries. We find that periods of high churning are related to larger gender wage gaps.
Gender wage gap in Poland: Can it be explained by differences in observable c...GRAPE
We describe the evolution of the gender wage gap in Poland since transition. The results suggest that it was rather stable over time and that it cannot be explained by characteristics. If anything, women should be earning more than men!!!
Female access to the labor market and wages over transitionGRAPE
We analyze the differences in wages and employment in transition economies in the post transformation period. Using non parametric methods we found that countries differ to a great extent in the paths followed and that institutional features alone fail to explain variation.
Female access to the labor market and wages over transitionGRAPE
Female participation dropped in Central and Eastern Europe following the transition to a liberal market structure. We analyze the effects of such developments on wage differences. our results show that country heterogeneity matters, but also that when female participation is larger, the unexplained component of the gap is smaller.
We use several models to estimate the gender wage gap and compare the results. Our comparisons suggest that all methods produce similar results, though dispersion within each of them varies.
Women in transition and today: what do they want, realize, and experience in ...GRAPE
In this work, we construct the measures that have a potential to reflect the willingness
and possibilities of women to work, as well as their attitudes towards equal positions of women and men on the labour market. We implement decomposition techniques to control for individual characteristics when comparing women and men within selected measures, as well as to extract the cohort effects for analysed changes.
Female access to the labor market and wages over transitionGRAPE
We analyze the differences in wages and employment in transition economies in the post transformation period. Using non parametric methods we found that countries differ to a great extent in the paths followed and that institutional features alone fail to explain variation.
Female Access to the Labor Market and Wages Over Transition: A Multicountry A...GRAPE
We analyze the differences in wages and employment in transition economies in the post transformation period. Using non parametric methods we found that countries differ to a great extent in the paths followed and that institutional features alone fail to explain variation.
Dostęp kobiet do rynku pracy i płac w kontekście transformacjii gospodarczejGRAPE
We analyze the differences in wages and employment in transition economies in the post transformation period. Using non parametric methods we found that countries differ to a great extent in the paths followed and that institutional features alone fail to explain variation.
We explore the evolution of the gender wage gap since the period of transition. We found that the gender wage gap cannot be explained by differences in characteristics, which if anything suggest that women should be earning more than men do. There is also a business cycle component to differences in wages.
We study how the adjusted gender wage gap, sometimes refer to as discrimination component, changes as women age. We compare several theories and evaluates the validity of their claims against data from Germany. Results indicate that the gender wage gap grows non-monotonically as women age. In consequence, policies aim to address gender differences should also tackle inequalities among workers close to retirement age.
Pushed into necessity? Gender gaps in the labor market and entrepreneurship o...GRAPE
Theoretical literature on entrepreneurship hints that labor market inequality may constitute a relevant push factor for necessity self-employment, as opposed to aspirational self-employment. Drawing on empirical confirmation, this insight is used in many policy recommendations. We provide a new approach to test and quantify the link between labor market inequality and self-employment. We exploit rich and diverse international data on patterns of self-employment from the Global Entrepreneurship Monitor. We focus on measures of labor market inequality for women, utilizing estimates of adjusted gender wage and gender employment gap, comparable for a large selection of countries and years. Our results show that greater gender disparities in access to and in compensation for wage employment are associated with necessity self-employment, but the effect is small. We find no link for the aspirational self-employment.
Pushed into necessity? Gender gaps in the labor market and entrepreneurship o...GRAPE
Robust evidence for link between GEG/GWG and necessity self-employment among women
Weak or no evidence for aspirations
Previous results were due to country specificity (no macro effects once accounting for country fixed effects)
Paying for ideal discretion: a framed field experiment on working time arrang...GRAPE
The notion of ideal worker necessitates being available at the discretion of the employer in terms of time. By contrast, the ability to set one's own schedule is widely considered a cornerstone of work-life balance and job satisfaction. We provide causal evidence on the pecuniary and social valuation of the discretion to decide about working schedules. We embed our study in the context of gender and compare employee-initiated and employer-initiated request for a change towards more discretion over working hours. We show that employer-initiated availability should be reflected in higher wages, but the premium is small. There appears to be no penalty to employee-initiated request for autonomy to decide about working schedules. While our results lend support to the ideal worker model, they cast doubt on explanations linking gender wage inequality to labor market flexibility.
Delayed fertility and statistical discrimination against womenGRAPE
Statistical discrimination offers a compelling narrative on gender wage gaps during the early stages of the career. Expecting absences related to child-bearing and child-rearing, the employers discount productivity to adjust for the probable losses such as costs associated with finding substitutes, leaving customers, etc. If that is the case, lower and delayed fertility should imply lower discount in wages, and consequently reductions in the gender pay gap among entrants. We put this conjecture to test against the data. We provide a novel set of estimates of adjusted gender wage gaps among youth for 56 countries spanning four decades. We estimate that postponing childbirth by a year reduce the adjusted gap 2 percentage points (15%). We show that this estimate is consistent with statistical discrimination, but for some countries the estimates of AGWG imply that either statistical discrimination is not accurate or taste-based mechanisms are also at play.
Statistical discrimination offers a compelling story to understand gender wage gaps, at least during the early stages of the career. Employers believe that women will get pregnant with a positive probability, which leads to potential losses, eg. costs associated with finding substitutes, potential losses in customers, etc. Employers then have an incentive to offer women lower wages, in order to discount for future losses. If that is the case, lower and delayed fertility should imply lower discount in wages, and consequently reductions in the gender pay gap among entrants.
In order to test for this hypothesis, we collect individual level data from European countries dating back to the early 1990. Having compiled these data, we compute the adjusted gender wage gap for workers at the early stages of their career, that is for those aged 25 to 29. These adjuste differences are obtained using the non-parametric approach pioneered by Nopo. We then regress these measures on macro data on fertility changes. If the statistical discrimination hypothesis is correct, we should expect that the secular decline in fertility observed in Europe over the last 30 years is correlated with lower estimates of the gender wage gap. Our estimates suggest that this is indeed the case. Using the age at first birth as a proxy for fertility, we find that postponing childbirth by an additional year leads to a reduction of .18 in the adjusted gap.
One caveat with this result is that fertility can be endogeneous to wages. If women were to receive higher wages, they might choose to postpone childbirths. To address this issue, we instrument our measure of fertility with the number of years since the introduction of the pill in the country. This measures varies across countries and over time, while at the same time it is fairly exogeneous, as the introduction of the pill occurred several generations back, normally in the mid-60 and 70s. First stage regressions reveal that the instrument correlates well with mean age at first birth. Second stage estimates are still significant, though they are smaller in magnitude. We conclude that recent changes in fertility helped to reduce the gender wage gap among women entering to the labor market.
Fertility, contraceptives and gender inequalityGRAPE
Our analysis shows that increasing the age at first birth is associated with a substantial decline in gender wage gaps: postponing first birth by a year reduces the gap by around 15%. In order to establish causality, we propose a novel instrument that exploits international variation in approval of oral contraceptives (the pill). Our estimates are consistent with a model of statistical discrimination where employers offer lower wages to women to hedge the expected costs associated with childbearing and childrearing.
Statistical discrimination is a possible, rational motive behind the persistent differences in earnings between men and women. Employers could women to bear a larger share of the burden associated with having children, and subsequently discount that on wages. We test the empirical validity of this claim using data from over 50 countries and 40 years. Using IV we find causal evidence consistent with this hypothesis. Postponing birth by one year leads to large falls in the adjusted gender wage gap.
We study the relationship between gender inequality among youth and fertility timing. We show that postponing fertility by one year leads to a substantial reduction of gender inequality. This finding is consistent with a simple statistical discrimination model, where employers offer lower wages when they anticipated costs related to fertility, and that these costs are higher for female employees.
Tone at the top: the effects of gender board diversity on gender wage inequal...GRAPE
We address the gender wage gap in Europe, focusing on the impact of female representation in executive and non-executive boards. We use a novel dataset to identify gender board diversity across European firms, which covers a comprehensive sample of private firms in addition to publicly listed ones. Our study spans three waves of the Structure of Earnings Survey, covering 26 countries and multiple industries. Despite low prevalence of female representation and the complex nature of gender wage inequality, our findings reveal a robust causal link: increased gender diversity significantly decreases the adjusted gender wage gap. We also demonstrate that to meaningfully impact gender wage gaps, the presence of a single female representative in leadership is insufficient.
Statistical gender discrimination: evidence from young workers across four de...GRAPE
Statistical discrimination offers a compelling narrative on gender wage gaps among younger workers. Employers could discount women's wages to adjust for probable costs linked to childbearing. Given trends towards lower and delayed fertility one should observe a lower discount in wages and a reduction in the gender wage gap among entrants. We test this conjecture using estimates of adjusted gender wage gap among young workers from 56 countries. We find that postponing childbirth by a year reduces the adjusted gap by two percentage points (15%). We further benchmark the implied gender inequality with the help of time-use data.
(Gender) tone at the top: the effect of board diversity on gender inequalityGRAPE
The research explores to what extent the presence of women on board affects gender inequality downstream. We find that increasing presence reduces gender inequality. To avoid reverse causality, we propose a new instrument: the share of household consumption in total output. We extend the analysis to recover the effect of a single woman on board (tokenism(
Matching it up: working arrangements and job satisfactionGRAPE
We leverage the flexibility enactment theory to study empirically the link between working arrangements and job satisfaction. We provide novel insights on the match between the individual inclination to work in non-standard working arrangements and the factual conditions of employment. We thus reconcile the earlier literature, which found both positive and negative effects of non-standard employment on job satisfaction. Using data from the European Working Conditions Survey we characterize the extent of mismatch between individual inclination and factual working arrangements. We provide several novel results. First, the extent of mismatch is substantial and reallocating workers between jobs could substantially boost overall job satisfaction in European countries. Second, the mismatch more frequently plagues women and parents. Finally, we demonstrate that the extent of mismatch is heterogeneous across countries, which shows that one-size-fits-all policies are not likely to maximize the happiness of workers, whether flexibility is increased or reduced.
Statistical discrimination at young age: new evidence from four decades of in...GRAPE
Statistical discrimination offers a compelling narrative on gender wage gaps during the early stages of the career. Expecting absences related to child-bearing and child-rearing, the employers discount productivity to adjust for the probable losses such as costs associated with finding substitutes, leaving customers, etc. If that is the case, lower and delayed fertility should imply lower discount in wages, and consequently reductions in the gender pay gap among entrants. We put this conjecture to test against the data. We provide a novel set of estimates of adjusted gender wage gaps among youth for 56 countries spanning four decades. We estimate that postponing childbirth by a year reduce the adjusted gap 2 percentage points (15%). We show that this estimate is consistent with statistical discrimination, but for some countries the estimates of AGWG imply that either statistical discrimination is not accurate or taste-based mechanisms are also at play.
Paying for ideal discretion: a framed field experiment on working time arran...GRAPE
The notion of "ideal worker" necessitates being available at the discretion of the employer in terms of time. We embed our study in the context of gender. Discretion over working time, meanwhile, is widely considered one of the cornerstones of work-life balance and job satisfaction. We study the pecuniary and social valuation of the autonomy to decide about working schedules. We compare employee-initiated and employer-initiated request for a change towards more flexible working time arrangement. We provide plausibly causal evidence that an \emph{ideal worker} indeed ought to be available, but requesting this availability should be reflected in wage rise on average. There appears to be no penalty to employee-initiated request for flexibility and this result is common for men and women.
Unionization and dispersion of earned income GRAPE
Long standing debate on unionization
* may raise wage dispersion (members vs non-members)
* may reduce prevalence of extremely low wages (and thus wage dispersion)
Empirical evidence mixed (+ causality issues)
Machin 1997; Lemieux 1998; Rueda and Pontusson 2000; Card 2001, Card et al. 2004; Checchi and Pagani 2005; Autor et
al. 2008; Western and Rosenfeld 2011
Challenges
* Within country studies have problem with finding credible identification
Checchi and Pagani 2005; Autor et al. 2008; Scheve and Stasavage 2009
* And external validity is questionable
−> Exploit exogenous shock called “transition”
Question: with substantial decline in unionization can we relate changes in wage dispersion?
Similar to Identifying Age Penalty in Women's Wages: New method and evidence from Germany (20)
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Revisiting gender board diversity and firm performanceGRAPE
Cel: oszacować wpływ inkluzywności władz spółek na ich wyniki.
Co wiemy?
• Większość firm nie ma równosci płci w organach (ILO, 2015)
• Większość firm nie ma w ogóle kobiet we władzach
Demographic transition and the rise of wealth inequalityGRAPE
We study the contribution of rising longevity to the rise of wealth inequality in the U.S. over the last seventy years. We construct an OLG model with multiple sources of inequality, closely calibrated to the data. Our main finding is that improvements in old-age longevity explain about 30% of the observed rise in wealth inequality. This magnitude is similar to previously emphasized channels associated with income inequality and the tax system. The contribution of demographics is bound to raise wealth inequality further in the decades to come.
Gender board diversity spillovers and the public eyeGRAPE
A range of policy recommendations mandating gender board quotas is based on the idea that "women help women". We analyze potential gender diversity spillovers from supervisory to top managerial positions over three decades in Europe. Contrary to previous studies which worked with stock listed firms or were region locked, we use a large data base of roughly 2 000 000 firms. We find evidence that women do not help women in corporate Europe, unless the firm is stock listed. Only within public firms, going from no woman to at least one woman on supervisory position is associated with a 10-15% higher probability of appointing at least one woman to the executive position. This pattern aligns with various managerial theories, suggesting that external visibility influences corporate gender diversity practices. The study implies that diversity policies, while impactful in public firms, have limited
effectiveness in promoting gender diversity in corporate Europe.
Gender board diversity spillovers and the public eyeGRAPE
A range of policy recommendations mandating gender board quotas is based on the idea that "women help women". We analyze potential gender diversity spillovers from supervisory to top managerial positions over three decades in Europe. Contrary to previous studies which worked with stock listed firms or were region locked, we use a large data base of roughly 2 000 000 firms. We find evidence that women do not help women in corporate Europe, unless the firm is stock listed. Only within public firms, going from no woman to at least one woman on supervisory position is associated with a 10-15\% higher probability of appointing at least one woman to the executive position. This pattern aligns with the Public Eye Managerial Theory, suggesting that external visibility influences corporate gender diversity practices. The study implies that diversity policies, while impactful in public firms, have limited effectiveness in promoting gender diversity in corporate Europe.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large New Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economies, we use this model to provide comparative statics across past and contemporaneous age structures of the working population. Thus, we quantify the extent to which the response of labor markets to adverse TFP shocks and monetary policy shocks becomes muted with the aging of the working population. Our findings have important policy implications for European labor markets and beyond. For example, the working population is expected to further age in Europe, whereas the share of young workers will remain robust in the US. Our results suggest a partial reversal of the European-US unemployment puzzle. Furthermore, with the aging population, lowering inflation volatility is less costly in terms of higher unemployment volatility. It suggests that optimal monetary policy should be more hawkish in the older society.
Evidence concerning inequality in ability to realize aspirations is prevalent: overall, in specialized segments of the labor market, in self-employment and high-aspirations environments. Empirical literature and public debate are full of case studies and comprehensive empirical studies documenting the paramount gap between successful individuals (typically ethnic majority men) and those who are less likely to “make it” (typically ethnic minority and women). So far the drivers of these disparities and their consequences have been studied much less intensively, due to methodological constraints and shortage of appropriate data. This project proposes significant innovations to overcome both types of barriers and push the frontier of the research agenda on equality in reaching aspirations.
Overall, project is interdisciplinary, combining four fields: management, economics, quantitative methods and psychology. An important feature of this project is that it offers a diversified methodological perspective, combining applied microeconometrics, as well as experimental methods.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...
Identifying Age Penalty in Women's Wages: New method and evidence from Germany
1. Identifying Age Penalty in Women’s Wages:
Identifying Age Penalty in Women’s Wages:
New method and evidence from Germany
J. Tyrowicz L. van der Velde I. van Staveren
IAFFE @ ASSA 2017
3. Identifying Age Penalty in Women’s Wages:
Introduction
Why it matters?
Definitely: women have gradually better educational attainment
Arguably: sorting matters less (for many occupations)
4. Identifying Age Penalty in Women’s Wages:
Introduction
Why it matters?
Definitely: women have gradually better educational attainment
Arguably: sorting matters less (for many occupations)
⇒ raw aggregate gender wage gap should decline
which it does ....
5. Identifying Age Penalty in Women’s Wages:
Introduction
Why it matters?
Definitely: women have gradually better educational attainment
Arguably: sorting matters less (for many occupations)
⇒ raw aggregate gender wage gap should decline
which it does .... but really slowly ...
Aging process in Europe?
6. Identifying Age Penalty in Women’s Wages:
Introduction
Why it matters?
Definitely: women have gradually better educational attainment
Arguably: sorting matters less (for many occupations)
⇒ raw aggregate gender wage gap should decline
which it does .... but really slowly ...
Aging process in Europe?
Is there an age pattern?
Implications for efficient policies to address gender wage gap?
7. Identifying Age Penalty in Women’s Wages:
Introduction
Motivation
Adjusted gender wage gap for selected cohorts as they aged
.1.15.2.25.3.35
Adjustedgap
25 30 35 40 45 50 55 60
Age
1940−1944 1950−1954 1960−1964
Controls: tenure, experience, small kids in the household, married, education level and year.
8. Identifying Age Penalty in Women’s Wages:
Introduction
Theory on age pattern in gender wage gap
Unequal distribution of activities within the household (Becker 1985)
Child bearing and child rearing and its expectation (Mincer and
Polachek 1974, Goldin and Katz 2008, Goldin 2014)
Gender bias in the measurement of human capital
9. Identifying Age Penalty in Women’s Wages:
Introduction
Theory on age pattern in gender wage gap
Unequal distribution of activities within the household (Becker 1985)
Child bearing and child rearing and its expectation (Mincer and
Polachek 1974, Goldin and Katz 2008, Goldin 2014)
Gender bias in the measurement of human capital
Statistical discrimination from the employers (Dahlby 1983)
10. Identifying Age Penalty in Women’s Wages:
Introduction
Theory on age pattern in gender wage gap
Unequal distribution of activities within the household (Becker 1985)
Child bearing and child rearing and its expectation (Mincer and
Polachek 1974, Goldin and Katz 2008, Goldin 2014)
Gender bias in the measurement of human capital
Statistical discrimination from the employers (Dahlby 1983)
“Hysteresis effect” (Babcock et al. 2002, Blau and Ferber 2011)
11. Identifying Age Penalty in Women’s Wages:
Introduction
Theory on age pattern in gender wage gap
Unequal distribution of activities within the household (Becker 1985)
Child bearing and child rearing and its expectation (Mincer and
Polachek 1974, Goldin and Katz 2008, Goldin 2014)
Gender bias in the measurement of human capital
Statistical discrimination from the employers (Dahlby 1983)
“Hysteresis effect” (Babcock et al. 2002, Blau and Ferber 2011)
“Double standard of aging” (Duncan and Loretto 2004, Neumark
et al. 2015)
12. Identifying Age Penalty in Women’s Wages:
Introduction
Intended contribution
Explore the effects of the life-cycle in women’s earnings penalty
13. Identifying Age Penalty in Women’s Wages:
Introduction
Intended contribution
Explore the effects of the life-cycle in women’s earnings penalty
Extend the method proposed by DiNardo, Fortin and Lemieux
(1996) to separate cohort, time and age effects.
14. Identifying Age Penalty in Women’s Wages:
Method
DiNardo, Fortin and Lemieux decomposition (1996)
Given a joint distribution of wages and characteristics of the form
f (wi ) = fi (w|x) f (x|g = i)dx (1)
(where i represents the gender: men or women)
15. Identifying Age Penalty in Women’s Wages:
Method
DiNardo, Fortin and Lemieux decomposition (1996)
Given a joint distribution of wages and characteristics of the form
f (wi ) = fi (w|x) f (x|g = i)dx (1)
(where i represents the gender: men or women)
then a counterfactual wage structure using a reweighting parameter Ψ(x)
may be represented as
f (wc
f ) = ff (w|x) Ψj (x)fj (x|g = f )dx. (2)
Conveniently, Ψ(x) can be recovered using probit models.
16. Identifying Age Penalty in Women’s Wages:
Method
Methodology
By setting alternative Ψ(x), we define counterfactual distributions, e.g.
traditional: male ˆdistribution with female characteristics
17. Identifying Age Penalty in Women’s Wages:
Method
Methodology
By setting alternative Ψ(x), we define counterfactual distributions, e.g.
traditional: male ˆdistribution with female characteristics
our approach:
male ˆdistribution if female characteristics were constant as we age
18. Identifying Age Penalty in Women’s Wages:
Method
Methodology
By setting alternative Ψ(x), we define counterfactual distributions, e.g.
traditional: male ˆdistribution with female characteristics
our approach:
male ˆdistribution if female characteristics were constant as we age
+
female ˆdistribution if female characteristics were constant over time
19. Identifying Age Penalty in Women’s Wages:
Method
Methodology
By setting alternative Ψ(x), we define counterfactual distributions, e.g.
traditional: male ˆdistribution with female characteristics
our approach:
male ˆdistribution if female characteristics were constant as we age
+
female ˆdistribution if female characteristics were constant over time
if sample of men and women is constant ⇒ also unobservable
characteristics
20. Identifying Age Penalty in Women’s Wages:
Method
Methodology
By setting alternative Ψ(x), we define counterfactual distributions, e.g.
traditional: male ˆdistribution with female characteristics
our approach:
male ˆdistribution if female characteristics were constant as we age
+
female ˆdistribution if female characteristics were constant over time
if sample of men and women is constant ⇒ also unobservable
characteristics
⇒ how gender wage gaps change, as men and women age
21. Identifying Age Penalty in Women’s Wages:
Method
Method
The raw gender wage gap in any age (∆j ) is the sum of explained and
unexplained component:
∆j = f (w|m, j) − f (w|f , j)
Explained component
+ f (w|f , j) − f (w|f , j)
Unexplained component
22. Identifying Age Penalty in Women’s Wages:
Method
Method
The raw gender wage gap in any age (∆j ) is the sum of explained and
unexplained component:
∆j = f (w|m, j) − f (w|f , j)
Explained component
+ f (w|f , j) − f (w|f , j)
Unexplained component
Hence, ∆j − ∆i =
fm,j (w|x) ((f (x|m, i) − f (x|m, j)
−(f (x|f , j)) − f (x|f , i)))dx
Change in explained component
+ (fm,i (w|x) − fm,j (w|x)
−(ff ,i (w|x) − ff ,j (w|x))) (f (x|f , i)
Change in unexplained component
+ Change in residuals
23. Identifying Age Penalty in Women’s Wages:
Data
Data
(West) German nationals aged 25-59 – SOEP
Period: 1984-2008.
24. Identifying Age Penalty in Women’s Wages:
Data
Data
(West) German nationals aged 25-59 – SOEP
Period: 1984-2008.
SOEP has great retention rates
Over 7 000 individuals are observed for a decade or longer.
25% of the original sample observed on every year.
Almost 70 000+ complete observations (exclusion gender symmetric)
25. Identifying Age Penalty in Women’s Wages:
Data
Data
(West) German nationals aged 25-59 – SOEP
Period: 1984-2008.
SOEP has great retention rates
Over 7 000 individuals are observed for a decade or longer.
25% of the original sample observed on every year.
Almost 70 000+ complete observations (exclusion gender symmetric)
Dependent variable: real hourly wages
Rich set of covariates: education, tenure, experience full and part
time, household characteristics, occupations, industries, type of
employment...
26. Identifying Age Penalty in Women’s Wages:
Data
A quick look at the sample
0
.2
.4
.6
.8
Proportion
Married Small kids Higher education Employment
1984 1990 1996 2002 2008 Men
Aged: 25−34
27. Identifying Age Penalty in Women’s Wages:
Data
A quick look at the sample
0
.2
.4
.6
.8
Proportion
Married Small kids Higher education Employment
1984 1990 1996 2002 2008 Men
Aged:35−44
28. Identifying Age Penalty in Women’s Wages:
Data
A quick look at the sample
0
.2
.4
.6
.8
Proportion
Married Small kids Higher education Employment
1984 1990 1996 2002 2008 Men
Aged:45−59
29. Identifying Age Penalty in Women’s Wages:
Results
Adjusted gender wage gap across age and cohorts
Bar: a period in the sample, colors preserve bar colors. Line: women’s participation
rate at the right axis.
30. Identifying Age Penalty in Women’s Wages:
Results
Double decomposition: changes in the adjusted gap
Initial year Avg. change
Initial Age 1984 1989 1994 1999 2004 with age
25-29 0.04 0.07 0.09 0.01 0.05 0.05
30-34 0.10 0.03 0.03 0.03 -0.02 0.03
35-39 -0.04 0.15 0.00 -0.04 -0.02 0.01
40-44 0.17 -0.02 0.00 0.01 -0.01 0.03
45-49 -0.11 0.01 0.06 0.08 0.05 0.02
50-54 -0.03 0.03 -0.14 -0.05 -0.01 -0.04
31. Identifying Age Penalty in Women’s Wages:
Results
Double decomposition: changes in the adjusted gap
Initial year Avg. change
Initial Age 1984 1989 1994 1999 2004 with age
25-29 0.04 0.07 0.09 0.01 0.05 0.05
30-34 0.10 0.03 0.03 0.03 -0.02 0.03
35-39 -0.04 0.15 0.00 -0.04 -0.02 0.01
40-44 0.17 -0.02 0.00 0.01 -0.01 0.03
45-49 -0.11 0.01 0.06 0.08 0.05 0.02
50-54 -0.03 0.03 -0.14 -0.05 -0.01 -0.04
What to do about non-working years?
32. Identifying Age Penalty in Women’s Wages:
Results
Double decomposition: changes in the adjusted gap
Initial year Avg. change
Initial Age 1984 1989 1994 1999 2004 with age
25-29 0.04 0.07 0.09 0.01 0.05 0.05
30-34 0.10 0.03 0.03 0.03 -0.02 0.03
35-39 -0.04 0.15 0.00 -0.04 -0.02 0.01
40-44 0.17 -0.02 0.00 0.01 -0.01 0.03
45-49 -0.11 0.01 0.06 0.08 0.05 0.02
50-54 -0.03 0.03 -0.14 -0.05 -0.01 -0.04
What to do about non-working years?
Include working for a wage in Ψ(x)
33. Identifying Age Penalty in Women’s Wages:
Results
Double decomposition: changes in the adjusted gap
Initial year Avg. change
Initial Age 1984 1989 1994 1999 2004 with age
25-29 0.04 0.07 0.10 0.04 0.07 0.06
30-34 0.04 0.02 0.07 0.04 0.01 0.04
35-39 -0.02 0.15 0.00 -0.03 0.00 0.02
40-44 0.17 0.02 -0.02 0.09 0.04 0.06
45-49 -0.13 0.03 0.18 0.11 0.07 0.05
50-54 -0.04 0.05 -0.16 -0.06 -0.03 -0.05
34. Identifying Age Penalty in Women’s Wages:
Results
Double decomposition: changes in the adjusted gap
Initial year Avg. change No E
Initial Age 1984 1989 1994 1999 2004 with age controls
25-29 0.04 0.07 0.10 0.04 0.07 0.06 0.05
30-34 0.04 0.02 0.07 0.04 0.01 0.04 0.03
35-39 -0.02 0.15 0.00 -0.03 0.00 0.02 0.01
40-44 0.17 0.02 -0.02 0.09 0.04 0.06 0.03
45-49 -0.13 0.03 0.18 0.11 0.07 0.05 0.02
50-54 -0.04 0.05 -0.16 -0.06 -0.03 -0.05 -0.04
35. Identifying Age Penalty in Women’s Wages:
Conclusions
Take home message
Adjusted gender wage gap ...
grows with age
non-monotonically
also in post-reproductive age
36. Identifying Age Penalty in Women’s Wages:
Conclusions
Take home message
Adjusted gender wage gap ...
grows with age
non-monotonically
also in post-reproductive age
Interpretation
Consistent with human capital ... to some extent
Question: is there a case for human capital story in the
post-reproductive age?
37. Identifying Age Penalty in Women’s Wages:
Conclusions
Summary
1 A new method for identifying age effects in adjusted GWG
2 New evidence for Germany, a country with relatively high inequality,
stable over time
38. Identifying Age Penalty in Women’s Wages:
Conclusions
Summary
1 A new method for identifying age effects in adjusted GWG
2 New evidence for Germany, a country with relatively high inequality,
stable over time
Policy implication 1: if Germany is typical, aggregate GWG will
increase as societies age (composition effects)
39. Identifying Age Penalty in Women’s Wages:
Conclusions
Summary
1 A new method for identifying age effects in adjusted GWG
2 New evidence for Germany, a country with relatively high inequality,
stable over time
Policy implication 1: if Germany is typical, aggregate GWG will
increase as societies age (composition effects)
Policy implication 2: overlapping penalties?
40. Identifying Age Penalty in Women’s Wages:
Conclusions
Summary
1 A new method for identifying age effects in adjusted GWG
2 New evidence for Germany, a country with relatively high inequality,
stable over time
Policy implication 1: if Germany is typical, aggregate GWG will
increase as societies age (composition effects)
Policy implication 2: overlapping penalties?
Where to now?
International context: UK, US, Canada, Russia, Korea
Hours flexibility story (Goldin 2014)
41. Identifying Age Penalty in Women’s Wages:
Conclusions
Questions or suggestions?
Thank you for your attention
42. Identifying Age Penalty in Women’s Wages:
Conclusions
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negotiations: A new look at gender variation in negotiation behavior, IACM 15th
Annual Conference.
Becker, G. S.: 1985, Human capital, effort, and the sexual division of labor, Journal of
Labor Economics 3(1), pp. S33–S58.
Blau, F. D. and Ferber, M. A.: 2011, Career plans and expectations of young women
and men: The earnings gap and labor force participation, Journal of Human
Resources 26(4), 581–607.
Dahlby, B.: 1983, Adverse selection and statistical discrimination: An analysis of
canadian automobile insurance, Journal of Public Economics 20(1), 121–130.
Duncan, C. and Loretto, W.: 2004, Never the right age? gender and age-based
discrimination in employment, Gender, Work & Organization 11(1), 95–115.
Goldin, C.: 2014, A grand gender convergence: Its last chapter, The American
Economic Review 104(4), 1091–1119.
Goldin, C. and Katz, L. F.: 2008, Transitions: Career and family life cycles of the
educational elite, The American Economic Review 98(2), 363–369.
Mincer, J. and Polachek, S.: 1974, Family investments in human capital: Earnings of
women, Journal of Political Economy 82(2), pp. S76–S108.
Neumark, D., Burn, I. and Button, P.: 2015, Is it harder for older workers to find jobs?
new and improved evidence from a field experiment, National Bureau of Economic
Research, Working Paper No. 21669 .