To resolve the wage-risk trade off relationship on the labor market in Czech Republic, we introduce multiple hedonic wage regressions. Empirical theory ad- mits an income and age heterogeneity in value of a statistical life (VSL). This thesis employs a quantile regression along with age-dependent non-fatal and fa- tal on-the-job risk rates to estimate the age and income variation in VSL within a unified framework. Our results, based on EU-SILC 2018 data, implicate an inverted-V-shaped development of VSL with respect to age. The estimates of age-VSL peak for workers within the age cohort 42-47 across most real wage quantile levels and once reaching the maximum point the VSL proceeds to de- cline with age. In order to infer any effects of the global pandemic on VSL, we propose a set of novel COVID-19 control variables. Additionally, we annuitize the VSL estimates, which yields the value of a statistical life year (VSLY). The measures of VSLY correspond to the age and income varying trend of VSL. In conclusion, this thesis offers applicable varying VSL estimates across cohorts and wage distribution to policy-makers and respective authorities. JEL Classification J17, J24, J28, J31, J33 Keywords hedonic wage, compensating wage differential, quantile regression, VSL, income elasticity Title Measuring the...

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Esta tesis evalúa el papel de las características no deseadas del trabajo - llamadas disamenities - en el contexto del balance entre trabajo y familia. Particularmente, se plantean las siguientes preguntas: ¿es el descenso en el salario de las mujeres luego del nacimiento del primer hijo - llamado child penalty - acompañado por una reducción simultánea en las disamenities?; ¿cuánto salario están dispuestas las madres a sacrificar para reducir las disamenities?; ¿las disamenities propias del trabajo de las madres tienen algún efecto sobre el desarrollo cognitivo de sus hijos? En el capitulo I se describe empíricamente como las características del trabajo de las madres cambian luego del nacimiento del primer hijo y se testea la hipótesis de que si el child penalty se puede explicar como un diferencial salarial compensatorio. En el capitulo II se estima la disposición marginal a pagar de las madres para reducir las disamenities. La estrategia de identificación está basada en la baja por maternidad, la cual constituye un contexto que permite modelar más cabalmente la decisión sobre la participación laboral; y por consiguiente, mejora la metodología existente para estimar la disposición marginal a pagar por parte de las madres. Finalmente, en el capitulo III se investiga el impacto de las disamenities del trabajo de las madres sobre el desarrollo infantil. / This dissertation evaluates the role of job disamenities - job characteristics disliked by workers - in the context of work-family balance. In particular, the following questions are raised. Is the decrease in mothers' wages around first childbirth - the so-called child penalty - accompanied by a simultaneous reduction in job disamenities? How much wage are mothers willing to sacrifice in order to reduce job disamenities? Do disamenities involved in mothers' occupations go on to affect parenting behaviour and as a result harm children's cognitive development? Chapter I provides empirical evidence for changes in maternal working conditions around first childbirth and tests the hypothesis if the child penalty can be explained by a compensating wage differential? Chapter II estimates mothers' marginal willingness to pay to reduce job disamenities. The identification strategy relies on the framework of maternal leave, a setting which allows us to model mothers' decision to join the labor force accurately and hence to improve on the existing methodology to estimate the marginal willingness to pay. Chapter III investigates how disamenities involved in mothers' occupation go on to affect children's cognitive outcomes.