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Longitudinal Study: HILDA
Title: Compensating Wage Differentials for Job Fatality and Injury Risk in Australia
Authors: Reynolds, Zac
Nahm, Daehoon
MacMillan, Craig 
Publication Date: Jun-2022
Pages: 152-165
Abstract: This study explores whether compensating wage differentials (CWDs) are still found for Australian workers using data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey, and risk data from Safe Work Australia. Our study finds evidence of CWDs for the risk of workplace fatalities that are smaller in magnitude compared to the estimates previously reported in the 1990s for Australia. We find limited evidence of CWDs for the risk of workplace non-fatal injuries. Using panel data and a risk variable that varies by both the worker’s industry and occupation of employment, we find that Australian workers who face the mean level of fatality risk receive a CWD of between 0.13% and 0.44% for a unit increase in risk, depending on the model specification. These estimates correspond to a value of statistical life of $9.7 million and $34.9 million.
DOI: 10.1111/1475-4932.12660
Research collection: Journal Articles
Appears in Collections:Journal Articles

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