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An Essay on Real Wage Index Numbers

Author

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  • John Pencavel

    (Stanford University)

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.

Suggested Citation

  • John Pencavel, 2010. "An Essay on Real Wage Index Numbers," Discussion Papers 10-008, Stanford Institute for Economic Policy Research.
    • Handle: RePEc:sip:dpaper:10-008
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    File URL: http://www-siepr.stanford.edu/repec/sip/10-008.pdf
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. On the decline of the US manufacturing wage
      by Economic Logician in Economic Logic on 2011-03-11 22:57:00

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    Cited by:

    1. Mario Arturo Ruiz Estrada & Su-Fei Yap & Noor Azina Binti Ismail, 2017. "Revisiting the Phillips Curve: Visualization from a Multidimensional Graphical Perspective," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 11(1), March.

    More about this item

    Keywords

    Real wage; standard of living; manufacturing industry;
    All these keywords.

    JEL classification:

    • J39 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Other

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