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.

scholarly journals Wage indexation and industrial relations: A comparison of recent experience in Israel and Australia

1970 ◽  
Vol 7 (1) ◽  
Author(s):  
Amira Galin ◽  
Russell D. Lansbury
Keyword(s):  
Industrial Relations ◽  
Recent Experience ◽  
Cost Of Living ◽  
Wage Policy ◽  
Framework Agreement ◽  
Wage Indexation ◽  
The Cost ◽  
National Framework

Australia and Israel both have centralised machinery for the determination of national wage policy. In Australia, the Conciliation and Arbitration Commission holds an annual national wage hearing. In Israel, a national framework agreement for determining wage levels is bargained and signed by the parties every two years. In addition, both countries have periodical arrangements for adjusting wages as a result of movement in the cost of living. This article compares the indexation arrangements of the two countries and analyses their impact on industrial relations.

scholarly journals Measuring GDP and Economic Growth: An Economic Barometer

2019 ◽  
Vol 2 (1) ◽  
pp. 42-58
Author(s):  
Alpa Tarun Mohanty
Keyword(s):  
Purchasing Power Parity ◽  
Market Value ◽  
Living Standards ◽  
Power Parity ◽  
Cost Of Living ◽  
Goods And Services ◽  
Inflation Rates ◽  
Per Capita ◽  
The Cost ◽  
8Th Edition

This essay based on Michaele Parkin, Macroeconomics, 8th edition. Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.

scholarly journals The Yorkshire miners 1786-1839: a study of work, culture and protest

2020 ◽  
Author(s):  
◽  
Joseph William Stanley
Keyword(s):  
Social History ◽  
Economic History ◽  
Trade Unions ◽  
Living Standards ◽  
Work Culture ◽  
Cost Of Living ◽  
Trade Unionism ◽  
Friendly Societies ◽  
Wage Increases ◽  
The Cost

This thesis examines the work, culture and protest of the Yorkshire miners between 1786-1839. The original contribution of this work is to emphasise the intimate connection between protest, mainly trade union co-ordinated strikes, and living standards. In doing so, this work brings together areas of investigation into protest history, social history, and economic history, which have in recent years become divorced from one another. For many years historians have accepted that protest was an indicator of discontent, proof of exploitation, and evidence of oppression. This thesis offers an alternative argument. It shows that protest was used strategically, and with a growing level of sophistication, to win real wage increases in a high-wage industry that prospered across the period. This thesis also adds to existing debates around working class radicalism and conservatism. It argues that the Yorkshire miners were conservative loyalists across the entire 1786-1839 period. Chapters 2 and 3 examine the work and culture of the Yorkshire miners. The former emphasises the experience of labour for miners, taking stock of why the industry paid such high wages, which the colliers' trade unions capitalised on. The latter makes sense of their culture, emphasising how the nature of their work and their high wages engendered a competing alehouse and chapel culture. The alehouse and the chapel played an important role in creating and maintaining trade unions. Chapters 4-8 examine instances of protest chronologically. Chapter 4 considers the years 1786-1801, which witnessed a rise in the cost of living and the growth of miners' trade unionism. Chapter 5 explores how and why the Yorkshire miners combined under the Combination Laws. It highlights the role of friendly societies in maintaining living standards when trade declined. Chapter 6 assesses the first regional colliers' strike in 1819 to raise wages when living standards had fallen to their lowest level in the decade. Chapter 7 illuminates 1820-32, years of prosperity, when the cost of living fell and strikes for higher wages became more frequent. Chapter 8 investigates trade unionism in the pre-Chartist years, when wages were unprecedentedly high. It focusses on the violent strike at Wakefield and disputes at Earl Fitzwilliam's collieries.

scholarly journals Measuring Cost of Living for Ordinary Residents in Cities: A New Index

2016 ◽  
Vol 2 (3) ◽  
pp. 52 ◽  
Author(s):  
Tan Khee Giap ◽  
Luu Nguyen Trieu Duong
Keyword(s):  
Policy Analysis ◽  
Living Standards ◽  
Consumption Patterns ◽  
Cost Of Living ◽  
Important Indicator ◽  
The World ◽  
Expatriate Managers ◽  
To Come ◽  
The Cost ◽  
Empirical Methodology

Cost of living is an important indicator to track and monitor basic living standards for cities. There is no reliable and consistent index available in the literature for comparing the cost of living across different major cities to guide policy analysis. Commercial cost of living surveys, while very useful in facilitating compensation decisions for expatriate managers, are inadequate as they do not account for differences in consumption patterns among cities and also do not consider differences in lifestyles between ordinary residents and expatriates across cities. In this context, this paper makes a pioneering attempt in the literature to come up with a comprehensive way to measure the cost of living for ordinary residents of 103 cities in the world. One of the features of the paper’s empirical methodology is that it makes a distinction between the cost of living for expatriates and ordinary residents. We focus on the results pertaining to ordinary residents in this paper.

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.

Keynote

2021 ◽  
Vol 48 (4) ◽  
pp. 3-3
Author(s):  
Ingo Weber
Keyword(s):  
Cost Estimation ◽  
Estimation Method ◽  
Main Topic ◽  
System Throughput ◽  
Distributed Ledger ◽  
Smart Contract ◽  
Distributed Ledger Technology ◽  
Wide Range ◽  
The Cost ◽  
Application Developers

Blockchain is a novel distributed ledger technology. Through its features and smart contract capabilities, a wide range of application areas opened up for blockchain-based innovation [5]. In order to analyse how concrete blockchain systems as well as blockchain applications are used, data must be extracted from these systems. Due to various complexities inherent in blockchain, the question how to interpret such data is non-trivial. Such interpretation should often be shared among parties, e.g., if they collaborate via a blockchain. To this end, we devised an approach codify the interpretation of blockchain data, to extract data from blockchains accordingly, and to output it in suitable formats [1, 2]. This work will be the main topic of the keynote. In addition, application developers and users of blockchain applications may want to estimate the cost of using or operating a blockchain application. In the keynote, I will also discuss our cost estimation method [3, 4]. This method was designed for the Ethereum blockchain platform, where cost also relates to transaction complexity, and therefore also to system throughput.

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.

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