CEB Working Paper

Recommendations

Info

Table 1. Descriptive Statistics of Selected Variables, 1999-2010 Variables Mean Std. Dev. Annual value added per worker a (€) 91,876 612,545 Annual labour cost per worker a (€) 48,666 24,163 Annual profit per worker a (€) 43,210 610,313 Normal education (years) 12.01 1.36 Overeducation Percentage of workers Years Undereducation Percentage of workers Years 20.35 0.53 22.08 0.62 27.72 0.94 26.40 1.03 Workers with 10 years or more of tenure (%) 37.44 23.75 Women (%) 28.33 24.64 Blue-collar workers b (%) 52.39 35.22 Share of workers < 30 years 21.78 14.73 Share of workers between 30 and 49 years 60.89 13.79 Share of workers > 49 years 17.33 12.51 Part-time (%) 16.40 17.55 Firm size (number of workers) 250.19 448.32 Firm-level collective agreement (%) 28.69 45.08 Sector (%) Mining and quarrying (B) Manufacturing (C) Electricity, gas, steam and air conditioning supply; Water supply, sewerage, waste management and remediation activities (D+E) Construction (F) Wholesale and retail trade, repair of motor vehicles and motorcycles (G) Accommodation and food services activities (I) Transport and storage ; Information and communication (H+J) Financial and insurance activities (K) Real estate activities ; Professional, scientific and technical activities ; Administrative and support service activities (L+M+N) 0.68 52.66 0.63 8.85 15.28 1.81 5.88 1.59 12.60 Number of firm-year observations 12,290 Data source:SES-SBS 1999-2010. Notes: a At 2004 constant prices. b The distinction between blue- and white-collar workers is based on the International Standard Classification of Occupations (ISCO-08). Workers belonging to groups 1–5 are considered to be white-collar workers (1: Managers; 2: Professionals; 3: Technicians and associate professionals; 4: Clerical support workers; 5: Services and sales workers), and those from groups 7–9 are considered to be blue-collar workers (7: Craft and related trades workers; 8: Plant and machine operators and assemblers; 9: Elementary occupations). 31
Table 2 - Educational Mismatch and Productivity, Labour Costs and Gap (GMM estimates, 1999-2010) Dependent variable GMM-SYS Value added per worker (ln) d Labour cost per worker (ln) e Profit per worker (ln) d Value added per worker (one year lagged, in ln) 0.623*** (0.043) Labour cost per worker (one year lagged, in ln) 0.706*** (0.059) Profit per worker (one year lagged, in ln) 0.413*** (0.029) Normal education (one year lagged, in years) 0.023*** (0.005) 0.010* (0.006) 0.060*** (0.017) Overeducation (one year lagged, in years) 0.023*** (0.007) 0.023* (0.013) 0.051** (0.026) Undereducation (one year lagged, in years) -0.011** (0.004) -0.006 (0.007) -0.025* (0.014) Worker characteristics a YES YES YES Firm characteristics b YES YES YES Year dummies (11) YES YES YES Sig. model (p-value) 0.000 0.000 0.000 Hansen statistic 483.7 538.81 500.72 p-value 0.41 0.20 0.22 Arellano-Bond statistic (AR2) c 1.47 0.81 1.39 p-value 0.14 0.42 0.17 Number of firm-year observations 12,290 12,290 12,290 Note: Robust standard errors are reported between brackets. (***, **, *): Significant at respectively 1%, 5% and 10% levels. a Shares of the workforce that: (i) has at least 10 years of tenure, and (ii) is younger than 30 and older than 49 years, respectively. The shares of women, blue-collar and part-time workers as well as the conditional dispersion in hourly wages are also included. b Sectorial affiliation (8 dummies), number of workers, age of the firm, and level of wage bargaining (1 dummy). c AR2 displays the test for second-order autocorrelation in the first-differenced errors. d First and second lags of explanatory variables are used as instruments in the GMM specification, excluding time dummies. e Second and third lags of explanatory variables are used as instruments in the GMM specification, excluding time dummies. 32
Page 1 and 2: CEB Working Paper Who is your perfe
Page 3 and 4: 1. Introduction Rising levels of av
Page 5 and 6: operandi of empirical research with
Page 7 and 8: ole of occupational categories in w
Page 9 and 10: approach has the advantage that it
Page 11 and 12: P ln m j, t j, t ** ** ln 0
Page 13 and 14: The inclusion of the lagged depende
Page 15 and 16: The GMM-SYS approach boils down to
Page 17 and 18: occupations at ISCO 3-digit level w
Page 19 and 20: estimated for each additional year
Page 21 and 22: [Insert Table 3 about here] The rel
Page 23 and 24: Labour costs coefficients presented
Page 25 and 26: closer match between productivity a
Page 27 and 28: Cardoso, A., Guimaraes, P., and Var
Page 29 and 30: Hellerstein J., Neumark D. and Tros
Page 31: Van Beveren, I. (2012). Total facto
Page 35 and 36: Table 4. Educational Mismatch and P

CEB Working Paper

Create successful ePaper yourself

Delete template?

Save as template?