WAGE RATES, THE COST OF LIVING, AND THE BALANCE OP PAYMENTS

1957 ◽  
Vol 33 (64) ◽  
pp. 23-28 ◽  
Author(s):  
J. E. Meade ◽  
E. A. Russell
Keyword(s):  
Cost Of Living ◽  
Wage Rates ◽  
The Cost

PREREQUISITES FOR THE FORMATION OF A MECHANISM FOR STATE REGULATION OF SOCIAL GUARANTEES IN THE REGION

2017 ◽  
Author(s):  
Vitaly Lobas ◽  
◽  
Elena Petryaeva ◽  
Keyword(s):  
Social Protection ◽  
Well Being ◽  
State Regulation ◽  
The State ◽  
Point Of View ◽  
Periodic Review ◽  
Cost Of Living ◽  
Economic Relations ◽  
State Management ◽  
The Cost

The article deals with modern mechanisms for managing social protection of the population by the state and the private sector. From the point of view of forms of state regulation of the sphere of social protection, system indicators usually include the state and dynamics of growth in the standard of living of the population, material goods, services and social guarantees for the poorly provided segments of the population. The main indicator among the above is the state of the consumer market, as one of the main factors in the development of the state. Priority areas of public administration with the use of various forms of social security have been identified. It should be emphasized that, despite the legislative conflicts that exist today in Ukraine, mandatory indexation of the cost of living is established, which is associated with inflation. Various scientists note that although the definition of the cost of living index has a well-established methodology, there are quite a lot of regional features in the structure of consumption. All this is due to restrictions that are included in the consumer basket of goods and different levels of socio-economic development of regions. The analysis of the establishment and periodic review of the minimum consumer budgets of the subsistence minimum and wages of the working population and the need to form state insurance funds for unforeseen circumstances is carried out. Considering in this context the levers of state management of social guarantees of the population, we drew attention to the crisis periods that are associated with the market transformation of the regional economy. In these conditions, there is a need to develop and implement new mechanisms and clusters in the system of socio-economic relations. The components of the mechanisms ofstate regulation ofsocial guarantees of the population are proposed. The deepening of market relations in the process of reforming the system of social protection of the population should be aimed at social well-being.

Wage disparities between high and low wage cities with and without the cost of living within Punjab and Sindh: An application of Oaxaca-Blinder using PSLM with HIES

2020 ◽  
Vol 4 (4) ◽  
pp. 1-14
Author(s):  
Farrukh Mahmood ◽  
Shumaila Hashim ◽  
Uzma Iram ◽  
Muhammad Zubair Chishti
Keyword(s):  
Estimation Method ◽  
Living Standards ◽  
Wage Dispersion ◽  
Cost Of Living ◽  
Wage Policy ◽  
Essential Component ◽  
Sindh Province ◽  
Economic Survey ◽  
The Cost ◽  
Wage Disparities

Wage disparities research hardly incorporate for the cost of living differences due to data restriction, while the wage disparity issue is the crucial area of economist interest. The study aims to examine the wage disparities between high and low wage cities for Punjab and Sindh province of Pakistan with and without the cost of living, deploying the data of Pakistan Social and Living Standards Measurement Survey (PSLM) with Household Integrated Economic Survey (HIES) for 2005, 2007, 2010, and 2013. Applying the Oaxaca-Blinder estimation method, the findings infer that wage dispersion is high without the cost of living model for both provinces (Punjab and Sindh) as compared to with cost of the living model. Moreover, the results reveal that the wage dispersion is greater in Punjab province than Sindh province. For policymakers, our study suggests that the cost of living is an essential component of the wage dispersion in Pakistan’s cities; it should be considered while formulating for wage policy.

The impact of labor freedom on geographic cost of living differentials

2017 ◽  
Vol 6 (3) ◽  
pp. 385-395
Author(s):  
Richard Cebula ◽  
James E. Payne ◽  
Donnie Horner ◽  
Robert Boylan
Keyword(s):  
Labor Market ◽  
State Level ◽  
The State ◽  
Annual Data ◽  
Significant Finding ◽  
Cost Of Living ◽  
Content Type ◽  
The Usa ◽  
The Cost ◽  
The Impact

Purpose The purpose of this paper is to examine the impact of labor market freedom on state-level cost of living differentials in the USA using cross-sectional data for 2016 after allowing for the impacts of economic and quality of life factors. Design/methodology/approach The study uses two-stage least squares estimation controlling for factors contributing to cost of living differences across states. Findings The results reveal that an increase in labor market freedom reduces the overall cost of living. Research limitations/implications The study can be extended using panel data and alternative measures of labor market freedom. Practical implications In general, the finding that less intrusive government and greater labor freedom are associated with a reduced cost of living should not be surprising. This is because less government intrusion and greater labor freedom both inherently allow markets to be more efficient in the rationalization of and interplay with forces of supply and demand. Social implications The findings of this and future related studies could prove very useful to policy makers and entrepreneurs, as well as small business owners and public corporations of all sizes – particularly those considering either location in, relocation to, or expansion into other markets within the USA. Furthermore, the potential benefits of the National Right-to-Work Law currently under consideration in Congress could add cost of living reductions to the debate. Originality/value The authors extend the literature on cost of living differentials by investigating whether higher amounts of state-level labor market freedom act to reduce the states’ cost of living using the most recent annual data available (2016). That labor freedom has a systemic efficiency impact on the state-level cost of living is a significant finding. In our opinion, it is likely that labor market freedom is increasing the efficiency of labor market transactions in the production and distribution of goods and services, and acts to reduce the cost of living in states. In addition, unlike previous related studies, the authors investigate the impact of not only overall labor market freedom on the state-level cost of living, but also how the three sub-indices of labor market freedom, as identified and measured by Stansel et al. (2014, 2015), impact the cost of living state by state.

A new index to measure cost of living for expatriates in cities

2018 ◽  
Vol 28 (3) ◽  
pp. 295-317
Author(s):  
Khee Giap Tan ◽  
Nguyen Trieu Duong Luu ◽  
Le Phuong Anh Nguyen
Keyword(s):  
New York ◽  
Hong Kong ◽  
Quality Data ◽  
Cost Of Living ◽  
Content Type ◽  
Goods And Services ◽  
Commercial Research ◽  
The Cost ◽  
Cost Of Living Index ◽  
The City

Purpose Cost of living is an important consideration for the decision-making of expatriates and investment decisions of businesses. As competition between cities for talent and capital becomes global instead of national, the need for timely and internationally comparable information on global cities’ cost of living increases. While commercial research houses frequently publish cost of living surveys, these reports can be lacking in terms of scientific rigour. In this context, this paper aims to contribute to the literature by formulating a comprehensive and rigorous methodology to compare the cost of living for expatriates in 103 world’s major cities. Design/methodology/approach A cost of living index for expatriates composed of the ten consumption categories is constructed. The results from the study covers a study period from 2005 to 2014 in 103 cities. More than 280 individual prices of 165 goods and services have been compiled for each city in the calculation of the cost of living index for expatriates. New York has been chosen as the base city for the study, with other cities being benchmarked against it. A larger cost of living index for expatriates implies that the city is more expensive for expatriates to live in and vice versa. Findings While the authors generate the cost of living rankings for expatriates for 103 cities worldwide, in this paper, the authors focus on five key cities, namely, London, Hong Kong, Singapore, Tokyo and Zurich, as they are global financial centres. In 2013, the latest year for which data are available, Zurich was the most expensive for expatriates among the five cities, followed by Singapore, Tokyo, London and Hong Kong. These results pertain to the cost of living for expatriates, and cities compare very differently in terms of cost of living for ordinary residents, as ordinary residents follow different consumption patterns from expatriates. Originality/value Cost of living in the destination city is a major consideration for professionals who look to relocate, and organisations factor such calculations in their decisions to post employees overseas and design commensurate compensation packages. This paper develops a comprehensive and rigorous methodology for measuring and comparing cost of living for expatriates around the world. The value-addition lies in the fact that the authors are able to differentiate between expatriates and ordinary residents, which has not been done in the existing literature. They use higher quality data and generate an index that is not sensitive to the choice of base city.

Twelfth-Century Italian Prices: Food and Clothing in Pisa and Venice

1983 ◽  
Vol 7 (4) ◽  
pp. 381-403
Author(s):  
Louise Buenger Robbert
Keyword(s):  
Twelfth Century ◽  
Economic History ◽  
Western Europe ◽  
American Philosophical Society ◽  
Cost Of Living ◽  
Good Opportunity ◽  
History Of ◽  
New Material ◽  
The Cost

Seventy-three years ago pioneer American medievalist Dana Carlton Munro (1911: 504) delivered a paper in Philadelphia to the American Philosophical Society entitled “The Cost of Living in the Twelfth Century.” He threw down the gauntlet by concluding that in this paper an attempt has been made to set forth only a few of the facts, merely to indicate the nature and importance of the problem. Every one of the subjects here discussed is susceptible of elaboration, and needs to be worked out in detail for each country of Western Europe and each period in the twelfth century. The material is voluminous…. This field, as a whole, offers a good opportunity for many monographs, and such work is essential before we can understand the economic history of the century which was most important in the advance of western Europe.This article takes up this challenge with new material on the cost of living in Italy in the twelfth century.

scholarly journals Getting Prices Right: What Should Be Done?

1998 ◽  
Vol 12 (1) ◽  
pp. 37-46 ◽  
Author(s):  
Angus Deaton
Keyword(s):  
Cost Of Living ◽  
Identification Problems ◽  
Single Index ◽  
Rate Of Increase ◽  
Price Indexes ◽  
Short Run ◽  
The Cost ◽  
Heterogeneous Consumers

Much of the profession accepts that the CPI likely overstates the rate of increase of the cost-of-living. It is less clear that there are sound and feasible steps that the BLS can adopt to improve matters in the short run. There are unresolved conceptual and identification problems in the measurement of quality. Superlative price indexes are not feasible, and feasible approximations are not superlative, and may not even be better. The need for a single index that aggregates over heterogeneous consumers with different incomes, tastes, and needs casts serious doubt on the cost-of-living approach.

LE LETTERE DI GIUSEPPE PEANO NELLA CORRISPONDENZA DI ERNESTO CESÀRO

Nuncius ◽  
1993 ◽  
Vol 8 (1) ◽  
pp. 249-281
Author(s):  
FRANCO PALLADINO
Keyword(s):  
United States ◽  
Nineteenth Century ◽  
The United States ◽  
Cost Of Living ◽  
Infinitesimal Calculus ◽  
Italian School ◽  
Actuarial Mathematics ◽  
Important Member ◽  
The Cost ◽  
Giuseppe Peano

Abstract<title> SUMMARY </title>We have gathered here twenty-six writings from the correspondence of Giuseppe Peano, as well as letters by Alexander Macfarlane and Alexander Ziwet.Peano's letters were addressed to Ernesto Cesaro, an important member of the great Italian school of mathematics founded in the second half of the Nineteenth century. In these writings, Peano discusses various topics: Infinitesimal calculus and Barycentric calculus, the «Rivista di Matematica» and the «Formulario» of which he was editor; didactics and a question about Actuarial mathematics. Some of the writings are confidential in nature: in one letter, Peano proposes exchanging his professorial chair with Cesaro's, and hence transferring from Turin to Naples.The letters written by Macfarlane and Ziwet were sent to Peano; they contain, at the request of Cesaro, information concerning university chairs and the cost of living in the United States.

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