An Essay on Real Wage Index Numbers

descriptionPublicationkeyboard_double_arrow_right Article , Research , Preprint 01 Jan 2011 English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: John Pencavel;

doi: 10.2139/ssrn.1751437

handle: 10419/46100

An Essay on Real Wage Index Numbers

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Abstract

Real wage index numbers have been used to measure movements in the standard of living of the typical worker. This paper describes some of these indicators for the United States and England. A new real wage index is proposed that resembles the sliding scale used to adjust wages in certain industries years ago. This new index is applied to U.S. manufacturing industry and it suggests a fall in real wages by about 40 percent since 1960. Workers' distributional position in U.S. manufacturing has deteriorated considerably.

Related Organizations

Stanford University
United States
Institute for the Study of Labor
Germany
Economic Policy Research Institute
South Africa

Keywords

Reallohn, ddc:330, Lebensstandard, real wages, index numbers, index numbers, real wages, sliding scale, Lohnstatistik, sliding scale, Real wage, standard of living, manufacturing industry, J31, USA, Industriearbeiter, jel: jel:J31, jel: jel:J39

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