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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