Table 4 Variables and their definitions
From: Foreign ownership and its effects on employment and wages: the case of Sweden
Variable | Definition |
|---|---|
Reservation wage | Calculated from the lowest wage (in SEK) in the sample |
Employment | The number of employed individuals in each firm in each year; employees include both blue- and white-collar workers |
Openness | The measure of industry openness; calculated as (total export + total import) / total sales in each industry and year |
Union density | Calculated for each trade union, the number of members (excluding supporting members) divided by total employment in the industry (the link between industry and trade union is determined using each trade union’s definition of their members according to their annual reports) |
Wage | The real wage, calculated as nominal wage divided by the consumer price index |
Capital | The value of physical capital (machinery, buildings and inventories) divided by the PPI |
PPI | Producer price index |
Unemployment level | The average unemployment level in per cent for each trade union’s membership, as obtained from Swedish Public Employment Service statistics |
Foreign ownership | A dummy variable: 1 for foreign-owned, 0 for domestic-owned |
Austria and Switzerland | A dummy variable for owner’s domicile: 1 for Austria or Switzerland, 0 for all others |
Belgium and Netherlands | A dummy variable for owner’s domicile: 1 for Belgium or The Netherlands, 0 for all others |
Denmark | A dummy variable for owner’s domicile: 1 for Denmark, 0 for all others |
UK and Ireland | A dummy variable for owner’s domicile: 1 for UK or Ireland, 0 for all others |
Finland | A dummy variable for owner’s domicile: 1 for Finland, 0 for all others |
France | A dummy variable for owner’s domicile: 1 for France, 0 for all others |
Germany | A dummy variable for owner’s domicile: 1 for Germany, 0 for all others |
Italy | A dummy variable for owner’s domicile: 1 for Italy, 0 for all others |
Norway | A dummy variable for owner’s domicile: 1 for Norway, 0 for all others |
US and Canada | A dummy variable for owner’s domicile: 1 for the USA or Canada, 0 for all others |
Time | A trend variable |