Wage compensation differentials for job risk between formal and informal workers
Pinyada Suwannarat
Abstract:This research�estimates compensating wage differentials for job risks for formal and informal workers in Thailand, the latter of whom are not covered by prevailing labor laws. Using data from the National Statistical Office's Thai Labor Force Survey for years 2012 to 2018 merged with job fatality risk collected by the Social Security Office, the results show that the fatality risk rate has a positive, significant effect on wages. The value of statistical life for the median formal workers is 79.33 million baht… Show more
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