Real Wages in Germany during the First Phase of Industrialization, 1850-1889

2018 ◽  
Vol 59 (2) ◽  
pp. 567-596 ◽  
Author(s):  
Ulrich Pfister
Keyword(s):  
Real Wage ◽  
Price Index ◽  
Positive Impact ◽  
Consumer Price Index ◽  
Lower Class ◽  
Living Standard ◽  
Second Phase ◽  
Real Wages ◽  
Income Volatility ◽  
Rapid Industrialization

Abstract The study constructs new wage series at the branch level and aggregates them to an index of nominal wages in industry and urban trades in 18481889. Moreover, the study develops new food price and rent indices. These are then combined with price indices for other categories of household expenditure from Hoffmann (1965) into a consumer price index for 1850-1889. The new real wage index shows little growth for the third quarter of the nineteenth century; the first phase of rapid industrialization from the 1840s to the early 1870s had only a small positive impact on the living standard of the industrial and urban lower classes. Only from the 1880s, when Germany moved into a second phase of industrialization, did the real wage experience a sustained and rapid increase. Nevertheless, the diversification of employment opportunities taking place in the wake of industrialization and the European grain invasion were accompanied by a marked reduction of income volatility among lower-class households already from the 1870s.

Statisical Analysis Between Government Wage Policy on Minimum Wage Saga in Nigeria

2019 ◽  
pp. 43-49
Author(s):  
Okeke Charles C.
Keyword(s):  
Minimum Wage ◽  
Price Index ◽  
Consumer Price Index ◽  
Positive Association ◽  
Least Square ◽  
Living Standard ◽  
Wage Policy ◽  
Ordinary Least Square ◽  
Significant Difference ◽  
The Cost

Some methods used to analysis between government wage policy on minimum wage saga in Nigeria were considered. Descriptive Statistics, The Ordinary Least Square technique; Correlation Analysis tools were employed to ascertain the significant difference between government wage policy on minimum wage saga in Nigeria. Data were collected for period 1974 – 2000.Our results shows that year of review is negatively and significant on government wage policy on minimum wage saga in Nigeria. Consumer Price Index is negatively and significant on government wage policy on minimum wage saga in Nigeria. Also, there is a perfect negative association on year of review between real minimum wage on government wage policy on minimum wage saga in Nigeria and it is significant, with a perfect positive association year of review between consumer price index on government wage policy on minimum wage saga in Nigeria and it is significant and there is a negative moderate association on real minimum wage between consumer price index on government wage policy on minimum wage saga in Nigeria and it is significant. This study therefore recommends that government should reduce the cost of governance and improve the living standard of workers by fixing a better wage. Finally, diversifying the Nigeria economy is necessary for states to enhance their internally generated revenue and step into creation of employment opportunities and better pay package.

scholarly journals ANALISIS DAMPAK HARGA EMAS DUNIA, HARGA MINYAK DUNIA, KURS, INDEKS HARGA KONSUMEN (IHK), DAN BI RATE TERHADAP JAKARTA ISLAMIC INDEX

2019 ◽  
Vol 1 (02) ◽  
pp. 7-20
Author(s):  
Muhammad Umar Azyka Alfuadi
Keyword(s):  
Exchange Rate ◽  
Price Index ◽  
Negative Impact ◽  
Positive Impact ◽  
Consumer Price Index ◽  
Gold Price ◽  
Oil Price ◽  
Economic Principle ◽  
Islamic Economic

The paper attempts to analyze the impacts of gold price, oil price, exchange rate, consumer price index, and BI rate to Jakarta Islamic Index using VAR- VECM analysis. The result shows that in long term all variables have a significant impact to JII. Gold price has negative impact to JII 4,1% and stable after 12 months, oil price has positive impact 1% and stable after 21 months, exchange rate has positive impact 3,8% and stable after 17 months, consumer price index has positive impact 0,5% and stable after 21 months, and BI rate has negative impact 6,2% and stable after 15 months. BI rate also gives the biggest impact‟s contribution into JII. This result is very contradictory with Islamic economic principle “No-Riba Oriented”.

scholarly journals Exchange Rate, Terms of Trade and Employment Nexus: Evidence From Turkey

2020 ◽  
Author(s):  
Muhammad Salah Uddin ◽  
Mahadi Hasan ◽  
Zobayer Ahmed
Keyword(s):  
Exchange Rate ◽  
Real Wage ◽  
Positive Impact ◽  
Fixed Effect Model ◽  
Terms Of Trade ◽  
Fixed Effect ◽  
Moderate Increase ◽  
Real Wages ◽  
Effect Model ◽  
The Impact

Abstract The objective of this study is to analyze the impact of the real exchange rate (RER) on employment, and real wage using quarterly disaggregated data (ISIC Rev 4 classification) composed of 19 industries in Turkey from 2010 to 2017. In our study, we employed the Fixed Effect Model, where industry-specific effects are used to control heterogeneity within the sectors. Moreover, robustness is applied to get rid of the heteroscedasticity in the error terms. Our results find that the currency appreciation has a negative, however insignificant effect on employment; whereas it has a significant positive impact on real wage. Generally, the terms of trade has no remarkable impact on employment and real wages; however, the larger industries have a substantial adverse impact on employment. Nevertheless, the interaction between currency appreciation and the top 25 per cent larger industries indicates a moderate increase in employment. The findings reflect that the appreciation of the domestic currency decreases employment at the industry level. The originality of this paper includes the effects of the terms of trade and interaction with currency appreciation in larger industries using Fixed Effect Model approach.

scholarly journals Trade and Real Wages of the Rich and Poor: Cross-Region Evidence

2018 ◽  
Author(s):  
Zheli He
Keyword(s):  
Wage Inequality ◽  
Real Wage ◽  
Price Index ◽  
Relative Price ◽  
Nominal Wage ◽  
Unified Framework ◽  
Real Wages ◽  
The Poor ◽  
Worker Heterogeneity ◽  
The Rich

Trade liberalization affects real-wage inequality through two channels: the distribution of nominal wages across workers and, if the rich and the poor consume different bundles of goods, the distribution of price indices across consumers. I provide a unified framework incorporating both channels by allowing for non-homothetic preferences and worker heterogeneity across jobs. Because skill-intensive goods are also high-income elastic in the data, I find an intuitive, previously unexplored, and strong interaction between the two channels. I parametrize the model for 40 regions using sector-level trade and production data, and find that trade cost reductions decrease the relative nominal wage of the poor and the relative price index for the poor in all regions. On net, real-wage inequality falls everywhere.

scholarly journals Statisical Analysis Between Government Wage Policy on Minimum Wage Saga in Nigeria

2019 ◽  
pp. 43-49
Author(s):  
Okeke Charles C.
Keyword(s):  
Minimum Wage ◽  
Price Index ◽  
Consumer Price Index ◽  
Positive Association ◽  
Least Square ◽  
Living Standard ◽  
Wage Policy ◽  
Ordinary Least Square ◽  
Significant Difference ◽  
The Cost

Some methods used to analysis between government wage policy on minimum wage saga in Nigeria were considered. Descriptive Statistics, The Ordinary Least Square technique; Correlation Analysis tools were employed to ascertain the significant difference between government wage policy on minimum wage saga in Nigeria. Data were collected for period 1974 – 2000.Our results shows that year of review is negatively and significant on government wage policy on minimum wage saga in Nigeria. Consumer Price Index is negatively and significant on government wage policy on minimum wage saga in Nigeria. Also, there is a perfect negative association on year of review between real minimum wage on government wage policy on minimum wage saga in Nigeria and it is significant, with a perfect positive association year of review between consumer price index on government wage policy on minimum wage saga in Nigeria and it is significant and there is a negative moderate association on real minimum wage between consumer price index on government wage policy on minimum wage saga in Nigeria and it is significant. This study therefore recommends that government should reduce the cost of governance and improve the living standard of workers by fixing a better wage. Finally, diversifying the Nigeria economy is necessary for states to enhance their internally generated revenue and step into creation of employment opportunities and better pay package.

scholarly journals INFLACIÓN Y NIVELES DE VIDA EN SEVILLA DURANTE LA REVOLUCIÓN DE LOS PRECIOS

2015 ◽  
Vol 33 (3) ◽  
pp. 353-386 ◽  
Author(s):  
Manuel González-Mariscal
Keyword(s):  
Price Index ◽  
Housing Prices ◽  
Consumer Price Index ◽  
Consumption Patterns ◽  
Real Wages ◽  
Standards Of Living ◽  
New Research

AbstractIn this article I present new calculations for the evolution of prices and standards of living in Seville from 1521 to 1603. Using new data on prices and new research on changes in nutrition and consumption, I improve the consumer price index. Two major improvements can be highlighted: the inclusion of rented housing prices and the use of three baskets of goods, according to the transformations identified in the consumption patterns. As a result of these improvements, the new data show that prices increase more (336%) than previously estimated by Hamilton (155%) and when using the Allen method (234%). Consequently, real wages decrease more with the new index (32%).

scholarly journals Determinants Of Foreign Direct Investment In The Manufacturing Industry: A VectorAutoregression Model Approach

2021 ◽  
Vol 12 (3) ◽  
pp. 4067-4076
Author(s):  
Symon Elli R. Blas Et.al
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Manufacturing Industry ◽  
Price Index ◽  
Negative Impact ◽  
Positive Impact ◽  
Consumer Price Index ◽  
Government Expenditure ◽  
Economic Indicators ◽  
The Future

This paper aimed to identify the factors that affect Foreign Direct Investment (FDI) in the manufacturing industry using a Vector Autoregression (VAR) model. The researcher selected possible economic indicators (Agriculture, Consumer Price Index, Government Expenditure and Unit Labour Cost) through theories and empirical evidences from various researches, covering quarterly period of 2004-2018. The result showed that there is a significant relationship between FDI and the selected economic indicators. It also revealed that shocks agriculture produces a positive impact, as well as government expenditure. However, consumer price index when introduced to shocks showed an immediate negative impact. On the other hand, unit labor cost did not have a significant impact on the foreign investments. The future variability of FDI primarily depends on itself, while the selected indicators affect roughly one-tenth of the future values of FDI

scholarly journals Methodological Approaches to Study “Competitiveness” Notion

2018 ◽  
Vol 17 (4) ◽  
pp. 344-354
Author(s):  
O. S. Bliznyuck
Keyword(s):  
Growth Rate ◽  
Production Efficiency ◽  
Price Index ◽  
Raw Materials ◽  
Consumer Price Index ◽  
Nominal Exchange Rate ◽  
Real Wages ◽  
Producer Price ◽  
Methodological Approaches ◽  
Definition Of

The paper is devoted to a detailed and comprehensive analysis of such economic category as competitiveness. Its beginning is focused on plurality of interpretations for a “competitiveness” term depending on goals and objectives, and it also provides a description of such economic category as “competitive advantage”. In addition the paper describes the most widespread approaches to competitiveness based on the opinion of reputable scientists and researchers (J. Faberberg, M. Francis, M. Best, A. Figuera) and it gives a definition of competitiveness at the micro-, meso- and macro levels. Detailed description of competitive relation levels, relationship and interaction between subjects (participants) of competitive relations depending on the competition level (national, international) has been given in the paper. Taking into account the approaches developed by prestigious foreign and national scientists, the author has prepared his own classification of methodological approaches to a definition of competitiveness on the basis of factors that ensure its growth and goals which it is striving for (its qualitative characteristics). The given classification includes seven groups of theories: production theories (theories of production efficiency), institutional theories, theories of technological (innovative) development (improvement), market (marketing) theories, theories of national (social) welfare, management theories and mixed theories. In addition, some indicators have been pinpointed and these indicators make it possible to analyze competitiveness (consumer price index, growth rate of inflation, nominal exchange rate of the Belarusian ruble, GDP growth rate, GDP structure (share of national economy sectors), monetization (ratio M2/GDP), availability of financial (credit) resources: dynamics of refinancing rate, credit rates (collateral, intraday, overnight credit, rates on REPO operations), producer price index (growth rate of prices for raw materials, real wages), level of tax burden for enterprises of industry and business, availability of tax incentives for innovative business (presence of an innovative component in business)) and they are proposed to be added for the forms of statistical reports, in particular a report on production of industrial products (works, services), a report on prices, a report on current costs for environmental protection, a report on implementation of research and development, a report on labor.

DAMPAK PERTUMBUHAN EKONOMI DAN UPAH RIIL TERHADAP PERMINTAAN TENAGA KERJA DKI JAKARTA 2005-2010

2017 ◽  
Vol 9 (2) ◽  
Author(s):  
Apriani Simatupang
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Real Wage ◽  
Positive Impact ◽  
Secondary Data ◽  
Real Wages ◽  
The Real ◽  
The Impact ◽  
Research Studies

<p>This research studies the impact of economic growth and real wages through the demand of labor in DKI province from the 2005 to 2010. Problems of the research is formulated into two primary aspect. First, What is the impact of the DKI’s economic growth 2005 to 2010 through the demand of labor. Second, what is the impact of real wages through the demand of labor in DKI from 2005 to 2010. The secondary data from BPS Jakarta are use in this study with time series format from 2005-2010. The result are showing that economic growth and the real wage simultaneously affect to the demand of labor in DKI from period 2005 to 2010 which determinant cooficient is 0,83. It’s mean that the model which is proposed can explained 83% the variation of dependent variable. Economic growth have a positive impact meanwhile the real wages has the opposite impact to the demand of labor.</p><p> </p><p>Keywords- Economic growth, real wages, demand for labor</p>

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