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The relationship between labour productivity and real wage growth in Canada and OECD countries

The relationship between labour productivity and real wage growth in Canada and OECD countries
Author:
Publisher:
Total Pages: 0
Release: 2008
Genre:
ISBN:

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The relationship between labour productivity growth and the growth of consumption wages (wages deflated with the consumer price index) is mediated not only by changes in the labour share, but also by changes in the relative prices of output and consumption goods, that is, labour's terms of trade. [...] The growth of consumption wages (nominal wages deflated by the CPI or another consumption deflator) is more directly relevant to living standards than the growth of product wages (nominal wages deflated by the GDP deflator, but is less directly linked to labour productivity growth because of the effects of the terms of trade for labour, that is, the differences between the prices for the goods tha [...] The fall in labour's share of GDP explained the last fifth of the gap between the growth of real median earnings and the growth of labour productivity over the 1980-2005 period. [...] In contrast with Fisher and Hostland, Russell and Dufour (2007) argue that the growth of real wages has not kept up with the growth of labour productivity in the long- term, and that the divergence between labour productivity and real wages is thus a legitimate cause for concern. [...] First, they found that much of the difference between the growth rate of labour productivity and the growth rate of product wages occurred in the late 1990s.


Productivity, Key to Economic Success

Productivity, Key to Economic Success
Author: Centre for the Study of Living Standards
Publisher: [Moncton, N.B.] : The Agency
Total Pages: 104
Release: 1998
Genre: Canada
ISBN:

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The objective of this report is to provide a comprehensive overview of knowledge in the productivity field for policy makers and the general public interested in economic issues. Section one provides an overview of the fundamentals of productivity, with basic data on productivity trends and a review of the definition and measurement of productivity. Section two examines the determinants of productivity growth, including such factors as the natural resource base, industrial structure and intersectoral shifts, capital accumulation, technological change, labour quality, and the macro- and micro-economic environments. Section three synthesizes several of the key debates in the productivity literature, examining the productivity or computer paradox, the relationship between employment and productivity, and the link between productivity and international competitiveness. Section four briefly looks at actions and policies to improve productivity, with particular reference to ways to increase physical investment, develop human capital, and foster technological progress. Appendices include discussion of frameworks for analyzing productivity growth, additional issues in the productivity literature, and statistical and conceptual issues in productivity measurement.


Capitalism: An Unsustainable Future?

Capitalism: An Unsustainable Future?
Author: Malcolm Sawyer
Publisher: Routledge
Total Pages: 339
Release: 2022-03-30
Genre: Business & Economics
ISBN: 1000552284

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The four decades of neoliberalism, globalisation and financialisation have produced crises - financial and pandemic - and rising inequality. The climate emergency threatens the future of the planet. This book explores many dimensions of the background to these crises. There is the development of policy agendas to address the climate emergency. The rise in inequality is studied in terms of impacts of financialisation and the relationships between growth and inequality. The record of the neoliberal experiment in the USA is critically examined. The roles of financial institutions including public banks and micro-finance are explored, as is the need for improved financial oversight in the Economic and Monetary Union. The growth of global value chains has been a major aspect of globalisation, and the question is examined of whether such chains provide a ladder for development. Globalisation has also featured trade imbalances and large capital flows, and their causes and effects are examined with respect to China and South Africa respectively. This volume will be of great value to students, scholars and professionals interested in political economy, economic thought, climate change, sustainability and business studies. The chapters in this book were originally published as a special issue of the journal, International Review of Applied Economics.


Productivity Measurement and Analysis

Productivity Measurement and Analysis
Author: OECD
Publisher: OECD Publishing
Total Pages: 556
Release: 2009-04-28
Genre:
ISBN: 9264044612

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Presents the proceedings of two workshops on productivity measurement and analysis, which brought together representatives of statistical offices, central banks and other officials involved with the analysis and measurement of productivity at aggregate and industry levels.


Productivity Growth in Agriculture

Productivity Growth in Agriculture
Author: Keith Owen Fuglie
Publisher: CABI
Total Pages: 390
Release: 2012
Genre: Technology & Engineering
ISBN: 1845939212

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This volume is written primarily for agricultural economists doing research on productivity. It includes discussions of the theoretical underpinnings of productivity measurement as well as the many practical considerations that go into translating this theory into actual measures of aggregated outputs and inputs. The unifying concept of agricultural productivity used across the chapters of this volume is aggregate total factor productivity (TFP) of the sector. The volume also contains detailed analysis of the underlying causes of agricultural productivity growth. Part I (chapters 2-6) examines agricultural productivity in high-income and transition countries. Part II (chapters 7-11) examines agricultural productivity growth and its driving forces in five important agricultural producers in Asia and Latin America. Part III (chapters 12-14) focuses on measuring and identifying constraints to agricultural productivity growth in sub-Saharan Africa. Part IV (chapters 15-16) gives a global perspective on agricultural productivity.


International Productivity Monitor

International Productivity Monitor
Author: OECD
Publisher: OECD Publishing
Total Pages: 222
Release: 2017-07-17
Genre:
ISBN: 9264279172

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The 32nd issue of the International Productivity Monitor is a special issue produced in collaboration with the OECD. All articles published in this issue were selected from papers presented at the First Annual Conference of the OECD Global Forum on Productivity held in Lisbon, Portugal, July ...


Fiscal Policy and Long-Term Growth

Fiscal Policy and Long-Term Growth
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 257
Release: 2015-04-20
Genre: Business & Economics
ISBN: 1498344658

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This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.


Top Incomes

Top Incomes
Author: A. B. Atkinson
Publisher: OUP Oxford
Total Pages: 984
Release: 2010-04-01
Genre: Business & Economics
ISBN: 0191500887

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A rapidly growing area of economic research investigates the top of the income distribution using data from income tax records. This volume brings together studies of top incomes for twelve countries from around the world, including China, India, Japan, Argentina and Indonesia. Together with the first volume, published in 2007, the studies cover twenty two countries. They have a long time span, the earliest data relating to 1875 (for Norway), allowing recent developments to be placed in historical perspective. The volume describes in detail the source data and the methods employed. It will be an invaluable reference source for researchers in the field. Individual country chapters deal with the specific nature of the data for each of the countries, and describe the long-term evolution of top income shares. In the countries as a whole, dramatic changes have taken place at the top of the income distribution. Over the first part of the century, top income shares fell markedly. This largely took the form of a reduction in capital incomes. The different authors examine the impact of the First and Second World Wars, contrasting countries that were and were not engaged. They consider the impact of depressions and banking crises, and pay particular attention to the impact of progressive taxation. In the last 30 years, the shares of top incomes have increased markedly in the US and other Anglo-Saxon countries, reflecting the increased dispersion of earnings. The volume includes statistics on the much-discussed top pay and bonuses, providing a global perspective that discusses important differences between countries such as the lesser increase in Continental Europe. This book, together with volume 1, documents this interesting development and explores the underlying causes. The findings are brought together in a final summary chapter by Atkinson, Piketty and Saez.