Politická ekonomie 2019, 67(2):133-156 | DOI: 10.18267/j.polek.1231
Analýza mezd a vybraných ukazatelů v zemích OECD
- Vysoká škola ekonomická v Praze, Fakulta informatiky a statistiky
Analysis of Wages and Selected Indicators in OECD Countries
The research database consists of the OECD countries except Iceland, Latvia and Turkey, which were excluded because of insufficient data. The primary objective of the study is to group the countries according to their average wage, GDP per capita, minimum wage and unemployment rate. Another objective, of no less importance, is to determine which of the three remaining above variables significantly affect the average wage, while defining the type and strength of this relationship. Yet another important goal is to develop forecasts of the wage level and GDP per capita for each OECD country by 2020. In terms of clustering OECD countries by the four variables, the Czech Republic always ranks alongside Chile and three post-communist countries, Estonia, Hungary and Poland. GDP per capita is the only explanatory variable significantly affecting the average wage. The dependence of these two variables is represented by a second-order polynomial (concave parabola), the selected regression parabola explaining approximately 88 percent of the variability in the observed levels of the average annual wage. The conversion of the average wage, GDP per capita and minimum wage to purchasing power parity allows consideration of different price levels and thus comparison of purchasing power parity of the population in different countries.
Keywords: wages in OECD countries, GDP in OECD countries, cluster analysis, Ward's method, Euclidean distance, stepwise regression
JEL classification: C22, C35, C38, E24, E25
Received: August 17, 2017; Accepted: September 26, 2018; Published: February 1, 2019 Show citation
References
- Akkemik, K. A. (2007). The Response of Employment to GDP Growth in Turkey: An Econometric Estimation. Applied Econometrics and International Development, 7(1), 65-74, Dostupné z: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1249086
- Angeles, L. (2008). GDP per Capita or Real Wages? Making Sense of Conflicting Views on Pre-industrial Europe. Explorations in Economic History, 45(2), 147-163, https://doi.org/10.1016/j.eeh.2007.09.002 Go to original source...
- Bertola, G. (1990). Job Security, Employment and Wages. European Economic Review, 34(4), 851-879, https://doi.org/10.1016/0014-2921(90)90066-8 Go to original source...
- Bowen, W. G., Berry, R. A. (1963). Unemployment Conditions and Movements of the Money Wage Level. The Review of Economics and Statistics, 45(2), 163-172, https://doi.org/10.2307/1924653 Go to original source...
- Brockwell, P. J., Davis, R. A. (2002). Introduction to Time Series and Forecasting. New York: Springer. ISBN 978-0-387-95351-9. Go to original source...
- Card, D., Krueger, A. B. (1993). Minimum Wages and Employment: A Case Study of the Fast Food Industry in New Jersey and Pennsylvania. National Bureau of Economic Research. Cambridge Working Paper No. 4509, https://doi.org/10.3386/w4509. Dostupné z: http://www.nber.org/papers/w4509 Go to original source...
- Darlington, R. B., Hayes, A. F. (2017). Regression Analysis and Linear Models: Concepts, Applications, and Implementation. New York: The Guilford Press. ISBN 978-1462521135.
- Dickens, R., Manning, A. (2004). Has the National Minimum Wage Reduced UK Wage Inequality? Statistics in Society (Series A), 167(4), 613-626, https://doi.org/10.1111/j.1467-985X.2004.aeI2.x Go to original source...
- Gallaway, L. E., Koshal, R. K., Chapin, G. L. (1970). The Relationship between the Rate of Change in Money Wage Rates and Unemployment Levels in South Africa. South African Journal of Economics, 38(4), 262-267, https://doi.org/10.1111/j.1813-6982.1970.tb00267.x Go to original source...
- Grossman, J. B. (1983). The Impact of the Minimum Wage on Other Wages. The Journal of Human Resources, 18(3), 359-378, https://doi.org/10.2307/145206. Dostupné z: http://www.jstor.org/stable/145206 Go to original source...
- Hall, R. E., Milgrom, P. R. (2008). The Limited Influence of Unemployment on the Wage Bargain. American Economic Review, 98(4), 1653-1674, https://doi.org/10.1257/aer.98.4.1653 Go to original source...
- Hong, G. H., Koczan, Z., Lian, W. et al. (2017). The Disconnect between Unemployment and Wages. Washington, D.C.: International Monetary Fund. Dostupné z: https://blogs.imf.org/2017/09/27/the-disconnect-between-unemployment-and-wages
- Löster, T. (2015). Evaluation of Coefficients for Determining the Optimal Number of Clusters in Cluster Analysis on Real Data Sets. Příspěvek prezentovaný na konferenci The 9th International Days of Statistics and Economics (MSED 2015) [online] Praha 10.09.2015-12.09.2015, 1014-1023. Dostupné z: https://msed.vse.cz/msed_2015/article/230-Loster-Tomas-paper.pdf
- Makhalová, E., Pecáková, I. (2015). The Fuzzy Clustering Problems and Possible Solutions. Příspěvek prezentovaný na konferenci The 9th International Days of Statistics and Economics (MSED 2015) [online] Praha 10.09.2015-12.09.2015, 1052-1061. Dostupné z: https://msed.vse.cz/msed_2015/article/237-Makhalova-Elena-paper.pdf
- OECD (2012). OECD Environmental Outlook to 2050: The Consequences of Inaction. Paříž: Organizace pro hospodářskou spolupráci a rozvoj. Dostupné z: https://www.oecd.org/env/indicators-modelling-outlooks/49846090.pdf
- OECD (2018). OECD Economic Outlook and Interim Economic Outlook. Paříž: Organizace pro hospodářskou spolupráci a rozvoj. Dostupné z: http://www.oecd.org/eco/outlook/economic-outlook
- Oxley, L., Greasley, D. (1997). Convergence in GDP per Capita and Real Wages: Some Results for Australia and the UK. Mathematics and Computers in Simulation, 43(3-6), 429-436, https://doi.org/10.1016/S0378-4754(97)00028-1 Go to original source...
- Pícl, M., Richter, P. (2014). Minimální mzda a její vliv na nezaměstnanost v ČR. Acta Oeconomica Pragensia, 22(6), 51-65, https://doi.org/10.18267/j.aop.458 Go to original source...
- Rencher, A. C., Christensen, W. F. (2012). Methods of Multivariate Analysis. New Jersey: John Wiley & Sons. ISBN 978-0470178966. Go to original source...
- Wiczer, D., Eubanks, J. D. (2014). Are Wages and the Unemployment Rate Correlated? St. Louis: Federal Reserve Bank. Dostupné z: https://www.stlouisfed.org/on-the-economy/2014/december/are-wages-and-the-unemployment-rate-correlated
- Šimpach, O. (2013). Application of Cluster Analysis on the Demographic Development of Municipalities in the Districts of Liberecky Region. Příspěvek prezentovaný na konferenci The 7th International Days of Statistics and Economics (MSED 2013) [online] Praha 19.09.2013-21.09.2013, 1390-1399. Dostupné z: https://msed.vse.cz/files/2013/56-Simpach-Ondrej-paper.pdf
- An Economic Sense (2015). Why Wages Have Stagnated While GDP Has Grown: The Proximate Factors. An Economic Sense. Dostupné z: https://aneconomicsense.org/2015/02/13/why-wages-have-stagnated-while-gdp-has-grown-the-proximate-factors (Blog ve vědeckém článku nelze)
- Zaidi, M. A. (1969). The Determinants of Money Wage Rate Changes and Unemployment-Inflation "Trade-Offs" in Canada. International Economic Review, 10(2), 207-219, https://doi.org/10.2307/2525553 Go to original source...
- Žítek, V., Kunc, J., Tonev, P. (2006). Vybrané indikátory regionální konkurenceschopnosti a jejich vývoj. Brno Working Paper No. 21/2006. Dostupné z: https://is.muni.cz/do/econ/soubory/oddeleni/centrum/papers/wp2006-21.pdf
This is an open access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY NC ND 4.0), which permits non-comercial use, distribution, and reproduction in any medium, provided the original publication is properly cited. No use, distribution or reproduction is permitted which does not comply with these terms.