PhD Defence on 27 August 2019
A defense of the PhD thesis of a PhD student from the Department of Business Administration Kalev Kallemets on the topic "Development of Resource Regime of Oil Shale Industry: A Case of Estonia“ will take place on 27 August 2019 at 12.00 in room SOC-214 (Akadeemia tee 3). Supervisor is Professor Üllas Ehrlich, Department of Business Administration.
The thesis is available at: https://digi.lib.ttu.ee/i/?12843
InWeGe project team implemented a study on gender wealth gap in Estonia
Prof. Tairi Rõõm and Associate Prof. Merike Kukk from Department of Economics and Finance in TalTech and Senior Researcher Jaanika Meriküll from University of Tartu have made public their study „What explains the gender gap in wealth? Evidence from administrative data“ in Eesti Pank Working Paper series. The research is implemented under Horizon2020 project InWeGe, which investigates the gender gaps in wealth, in pensions and in income in Estonia to develop a practical web tool.
The working paper studies the gender wealth gap in Estonia, the country with the highest gender wage gap in Europe. „Wealth is an important indicator of welfare and measuring wealth inequalities is relevant both at the level of the population as a whole and within households“, explains prof. Tairi Rõõm. „It matters who owns the assets in a family and both men and women are expected to accumulate savings for unexpected income shocks and for retirement income. While income gaps illustrate current inequality, wealth gaps depict inequality that has accumulated over a longer time span.“
It is found that men own on average 45% more wealth than women in Estonia. This gap is relatively sizeable in comparison with the gaps in other countries for which wealth distribution over gender has been investigated. Although the gap in mean net wealth in Estonia is sizeable, there are no gender-based differences in wealth across most of the lower part of the wealth distribution. The gap is significantly in favour of men only at the top of the distribution, in the wealthiest decile of the population. Wealth is very unevenly distributed, with a lot of it concentrated at the top of the distribution, especially for men. The sharp differences in wealth between the richest men and women, which mainly originate from business wealth, are the source of the large gap in mean net wealth in favour of men.
Real estate is the main wealth component that is owned by men and women more or less equally. Women save more in deposits while men more in riskier financial assets and in self-employment business wealth. When controlling for various characteristics of men and women that affect the ownership of wealth, such as differences in labour market status, education or income, it is possible to explain the wealth gap throughout the net wealth distribution
The upshot of the analysis is that relative to men, women do much better in terms of wealth than in terms of income in a country where there is a large unexplained gender gap in wages. The intra-household sharing of resources seems to alleviate the large income gap.
The research methodology and detailed results are presented in the study on Eesti Pank web-page here.