Selected Micro- and Macroeconomic Conditions of Wages, Income and Labor Productivity in Poland and Other European Union Countries

• Autorzy: Dariusz Fatuła
• Języki publikacji: EN

Abstrakty

EN

The aim of the article is to identify and compare key factors affecting the level of labor productivity, wages, and income in the economies of the EU countries. Among different determinants, the following were considered: overall price level; compensation of employees; participation of the self-employed and their mixed income in GDP; annual hours worked per employer; labor participation rate, particularly before retirement (age 55-64); part-time employment rate, and the contribution of investments. Eurostat data and that of the OECD and the World Bank were used for calculations. The indicators of correlation and a grouping method were also applied. Four groups of countries with a similar level and impact of specific factors were distinguished. The most important conclusion coming from the research is the strong correlation of the relative price level, remunerations and the average worked hours with the labor productivity. Their influence differs slightly in case of the work efficiency figure per employee and the work efficiency figure per one hour worked. Other variables such as the proportion of professionally active people, especially those at the age of preretirement (55-64 yrs. old); the high proportion of part-time workers or the level of capital expenditure have a lesser but relatively strong correlation with the labor productivity of both the employee and the worked hour. Conclusions from the analysis may support the state policy in terms of forming minimum wages and indirect taxation influencing the overall price level and the level of investment in the economy. Such conclusions were formed as recommendations for countries with the lowest levels of work efficiency, remunerations and income. Restrictions to the application of this advice are political conditions, the employment structure in a given country and labor market elasticity. (original abstract)

Słowa kluczowe

EN

Labour productivity; Wages; Price level

PL

Produktywność pracy; Płace; Poziom cen

• Czasopismo: Contemporary Economics
• Rocznik: 2018
• Tom: 12
• Numer: nr 1
• Strony: 17--32

Twórcy

autor

Dariusz Fatuła

• Andrzej Frycz Modrzewski Krakow University, Poland

Bibliografia

• Aaronson D., Agarwal S., & French E. (2012). The spending and debt response to minimum wage hikes. The American Economic Review, 102(7), 3111-3139.
• Ahmad N., Lequiller F., Marianna P., Pilat D., Schreyer P., Wölfl A. (2003). Comparing Labour Productivity Growth in the OECD Area: The Role of Measurement (Working Papers No. 2003/14). OECD. Retrieved from http://www.oecd-ilibrary.org/science-and-technology/comparing-labour-productivity-growth-in-the-oecd-area_126534183836
• Allington N.F.B., Kattuman P.A., Waldmann F.A. (2005). One market, one money, one price? International Journal of Central Banking, 1(3), 73-115.
• Bentolila S., Saint-Paul G. (2003). Explaining movements in the labour share. The B. E. Journal of Macroeconomics, 3(1), 1-33.
• Čihák M., & Holub T. (2003). Price convergence to the EU: what do the 1999 ICP data tell us? (Working Paper No. 2003/02). Czech National Bank. Retrieved from http://www.cnb.cz/en/research/research_publications/cnb_wp/download/wp2-2003.pdf
• Dobija M. (2003). Wage, money and accounting: Theoretical relationships. Argumenta Oeconomica Cracoviensia, 2, 27-49.
• Égert B., Halpern L., & MacDonald R. (2006). Equilibrium exchange rates in transition economies: Taking stock of the issues. Journal of Economic Surveys, 20(2), 257-324.
• Engel C., Rogers J.H. (2004). European product market integration after the euro. Economic Policy, 19(37), 347-384.
• Eurostat (2017a). Mean and median income by household type - EU-SILC survey. Retrieved from http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=ilc_di04&lang=en
• Eurostat (2017b). GDP and main components (output, expenditure and income). Retrieved from http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=nama_10_gdp&lang=en
• Eurostat (2017c). Mean and median income by household type - EU-SILC survey. Retrieved from http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=ilc_di04&lang=en
• Eurostat (2017d). Purchasing power parities (PPPs), price level indices and real expenditures for ESA 2010 aggregates. Retrieved from http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=prc_ppp_ind&lang=en
• Fatuła, D. (2013). Stopa oszczędności gospodarstw domowych -różnice w ujęciu mikro- i makroekonomicznym [Household savings rate - the differences in terms of micro- and macroeconomies]. Wiadomości Statystyczne, 9, 17-25.
• Goldberg P., Verboven F. (2004). Cross-country price dispersion in the euro area: A case study of the european car market. Economic Policy, 19(40), 483-521.
• Gollin G. (2002). Getting income shares right. Journal of Political Economy, 110(2), 458-474.
• Gomme P., Rupert P. (2004). Measuring labor`s share of income(Policy Discussion Paper No. 04-07). Federal Reserve Bank of Cleveland. Retrieved from https://www.clevelandfed.org/en/newsroom-andevents/publications/discontinued-publications/policy-discussion-papers/pdp-0407-measuring-laborsshare-of-income.aspx
• Goschin Z., Danciu A., (2007). Labour productivity disparities in the European Union. Analele Universităţiidin Oradea.Seria: Ştiinţeeconomice, tom XVI, 2, 808-812.
• Guscina A. (2006). Effects of Globalization on Labour's Share in National Income (Working Paper No. 06/294). International Monetary Fund. Retrieved from https://www.imf.org/en/Publications/WP/Issues/2016/12/31/Effects-of-Globalization-on-Labors-Share-in-National-Income-19244
• Harrison A. (2005). Has globalization eroded labor's share? Some cross-country evidence. (MPRA Working Paper No. 39649). University Library of Munich, Germany.
• Jantoń-Drozdowska E., Majewska M. (2015). Social capital as a key driver of productivity growth of the economy: across-countries comparison. Equilibrium. Quarterly Journal of Economics and Economic Policy, 10(4),61-83.
• Kahneman D., Tversky A. (1979). Prospect Theory: An Analysis of Decision Under Risk. Econometrica, 47(2), 263-292.
• Kahneman D., Tversky A. (Eds.). (2000). Choice, Values, and Frames. Cambridge, UK: Cambridge University Press.
• Konopczak K. (2013). Efekt Balassy-Samuelsona i mechanizmy jego absorpcji w krajach Europy Środkowo-Wschodniej [The Balassa-Samuelson effect and the channels of its absorption in the Central and Eastern European Countries]. Warsaw: Narodowy Bank Polski. Retrieved from https://www.nbp.pl/publikacje/materialy_i_studia/ms294.pdf
• Kozioł L. (2007). Metodyczne aspekty oceny produktywności [Methodological Aspects in Evaluating Productivity]. Zeszyty Naukowe Akademii Ekonomicznej w Krakowie, 727, 25-40.
• Lutz M. (2004). Pricing in segmented markets, arbitrage barriers and the law of one price: Evidence from the european car market. Review of International Economics, 12(3), 456-475.
• Naveeda A., & Ahmad N. (2016). Labour productivity convergence and structural changes: Simultaneous analysis at country, regional and industry levels. Journal of Economic Structures, 5-19.
• OECD (2017). Average annual hours actually worked per worker. Retrieved from http://stats.oecd.org/Index.aspx?DataSetCode=ANHRS
• Pellenyi G. (2007). The Relationship between relative productivity and price levels in Europe (Working Paper No. 33). ICEG European Center. Retrieved from http://pdc.ceu.hu/archive/00003284/01/relationship_between_productivy_and_price_levels.pdf
• Piekarz H. (2000). Produktywność jako determinanta tworzenia wartości firmy. [Productivity as a Determinant of Firm's Value Creation]. Zeszyty Naukowe Akademii Ekonomicznej w Krakowie, 544, 49-60.
• Ruzik A. (2007). Minimalne wynagrodzenie - analiza wpływu na zatrudnienie w Polsce. [The minimum wage impact on employment levels in Poland]. Polityka Społeczna, 1, 5-9.
• Spevacek V., Vintrova R., & Zdarek V. (2006). Growth and convergence (Working Paper No. 1/2006). Centre for Economic Studies. Retrieved from https://www.cesvsem.cz/data/data/ces-soubory/working-paper/gf_WPI06.pdf
• The World Bank (2017). Gross fixed capital formation (% of GDP). Retrieved from http://data.worldbank.org/indicator/NE.GDI.FTOT.ZS?end=2015&locations=EU-AT-PL-DE&name_desc=true&start=2015&view=bar
• Zielińska-Głębocka A. (2004). Analiza produkcyjności polskiego przemysłu. Aspekty metodyczne i empiryczne. [Analyzis of Productivity of Poland's Industry]. Ekonomista, 3, 335-358.
• Zienkowski L. (2000). Labour and Capital Productivity in Poland. Research Bulletin, 9(2), 57-66.

Identyfikatory

DOI

10.5709/ce.1897-9254.249