International Conference on Eurasian Economies
11-13 June 2019 – Famagusta, Turkish Republic of Northern Cyprus
Paper properties
Paper ID : 2305
Status : Paper published
Language : Turkish
Topic : Macroeconomics
Presenter: Dr. Sevilay Konya
Session : 1A Makroekonomi
Panel Estimation for the Relationship between Real Wage, Inflation and Labor Productivity for OECD Countries
OECD Ülkeleri İçin Reel Ücret, Enflasyon ve İşgücü Verimliliği Arasındaki İlişkinin Panel Tahmini
- Dr. Sevilay Konya (Selçuk University, Türkiye)
- Prof. Dr. Zeynep Karaçor (Selçuk University, Türkiye)
- Ph.D. candidate Mücahide Küçüksucu (Necmettin Erbakan University, Türkiye)
Abstract
There are studies examining the relationship between real wage, inflation and labor productivity in the economic literature. Increase in real wages causes to an increase in labor productivity. On the other hand, productivity increases also induce inflation to fall. Therefore, the aim of this study is to investigate the relationship between real wage, inflation and labor productivity in the 22 OECD countries (Australia, Belgium, Canada, Chile, Czech Republic, France, Greece, Hungary, Japan, Korea, Latvia, Luxembourg, Mexico, Netherlands, New Zealand, Poland, Portugal, Slovak Republic, Slovenia, Spain, Turkey, United States) in the period of 1995-2017 by panel data methods. According to results, the cointegration relationship between real wage, inflation and labor productivity was found. In addition, mutual causality was determined between the variables we discussed.
JEL codes: C33, E24, J24
Konya, Sevilay , Karaçor, Zeynep, Küçüksucu, Mücahide (2019). "Panel Estimation for the Relationship between Real Wage, Inflation and Labor Productivity for OECD Countries" in Proceedings of International Conference of Eurasian Economies 2019, pp.29-37, Famagusta, Turkish Republic of Northern Cyprus.
DOI: https://doi.org/10.36880/C11.02305
