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The effect of inflation and real wages on productivity: new evidence from a panel of G7 countries

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  • Paresh Narayan
  • Russell Smyth

Abstract

This article examines the effect of inflation and real wages on productivity within a panel unit root and panel cointegration framework for the G7 countries over the period 1960 to 2004. The main contribution of the article is to provide panel long-run estimates of the effect of inflation and real wages on productivity in the G7 countries over this period. The article finds that for the panel as a whole a 1% increase in real wages generates a 0.6% increase in productivity, while the effects of inflation on productivity are statistically insignificant for most of the individual countries and for the panel as a whole.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 41 (2009)
Issue (Month): 10 ()
Pages: 1285-1291

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Handle: RePEc:taf:applec:v:41:y:2009:i:10:p:1285-1291

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Cited by:
  1. Freddy, Liew, 2011. "Productivity-wage-growth nexus: an empirical study of Singapore," MPRA Paper 34459, University Library of Munich, Germany.
  2. George Shih-Ku Chen, 2009. "Determinants Of Taiwanese Investment In China: An Agglomeration Economies-Based Perspective," Development Research Unit Working Paper Series 01-09, Monash University, Department of Economics.
  3. Bildirici, Melike E. & Kayıkçı, Fazıl, 2012. "Economic growth and electricity consumption in former Soviet Republics," Energy Economics, Elsevier, vol. 34(3), pages 747-753.
  4. Tang, Chor Foon, 2010. "A note on the nonlinear wages-productivity nexus for Malaysia," MPRA Paper 24355, University Library of Munich, Germany.
  5. Saten Kumar & Don J. Webber & Geoff Perry, 2009. "Real wages, inflation and labour productivity in Australia," Working Papers 0921, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
  6. Chor Foon Tang, 2012. "The non-monotonic effect of real wages on labour productivity: New evidence from the manufacturing sector in Malaysia," International Journal of Social Economics, Emerald Group Publishing, vol. 39(6), pages 391-399, May.

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