Compensating wage differentials in formal and informal jobs
研究发现，由于最低工资等劳动法规对非正规工作约束较小，非正规工作中因恶劣工作条件产生的补偿性工资溢价比正规工作更明显，基于青少年就业数据验证了这一假设。
Abstract We link the dearth of empirical support for the theory of compensating wage differentials (CWD) to minimum wages and other labour market regulations. As these labour market regulations matter less for informal jobs, we hypothesise that CWD for adverse working conditions are more likely to be observed in these jobs relative to formal jobs. This is tested based on teenage employment data. The results are in line with our hypothesis. While informal jobs pay, on average, lower wages than formal jobs, a substantially higher premium for physically demanding and hazardous working conditions is found in informal jobs. This finding is robust against several sensitivity checks with respect to the identification method and measurement of the independent variables. Our results are also consistent with minimum wages being the key underlying mechanism for this difference in wage setting between formal and informal teenage jobs.