An Essay on Real Wage Index Numbers
AbstractReal 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.
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Bibliographic InfoPaper provided by Stanford Institute for Economic Policy Research in its series Discussion Papers with number 10-008.
Date of creation: Oct 2010
Date of revision:
Real wage; standard of living; manufacturing industry;
Other versions of this item:
- J39 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Other
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- On the decline of the US manufacturing wage
by Economic Logician in Economic Logic on 2011-03-11 16:57:00
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