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Are wages in Eastern Europe too low? Jan Drahokoupil Senior Researcher European Trade Union Institute, Brussels Event.

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Presentation on theme: "Are wages in Eastern Europe too low? Jan Drahokoupil Senior Researcher European Trade Union Institute, Brussels Event."— Presentation transcript:

1 Are wages in Eastern Europe too low? Jan Drahokoupil Senior Researcher European Trade Union Institute, Brussels Event

2 Approaches ● Wage levels/GDP (Prague conference etc.) ● Wage share (Prague conference, Stockhammer) ● ∆Productivity/∆wage, ∆ULC (Prague conference etc.) ● EUR equilibrium wage levels/shares = f(capital productivity, capital intensity, price effects) (Collignon & Esposito 2016) ● Employment structure jan drahokoupil © etui (2016) wages in eastern europe 2

3 Wage levels/GDP (figure by Chmelař) jan drahokoupil © etui (2016) wages in eastern europe 3

4 Another figure from Prague by Chmelař: Wage share jan drahokoupil © etui (2016) wages in eastern europe 4

5 Hence: private, adjusted wage share (Stockhammer) jan drahokoupil © etui (2016) wages in eastern europe 5

6 Private, adjusted wage share 2 jan drahokoupil © etui (2016) wages in eastern europe 6

7 Adjusted wage share: manufacturing industry (Amex) jan drahokoupil © etui (2016) wages in eastern europe 7

8 EUR equilibrium wage levels/shares vs actual wages nominal f(labour productivity, equilibrium wage share) -> real f(capital productivity, capital intensity, price effects) jan drahokoupil © etui (2016) wages in eastern europe 8 wage gap in % to equilibrium

9 jan drahokoupil © etui (2016) wages in eastern europe 9

10 jan drahokoupil © etui (2016) wages in eastern europe 10

11 jan drahokoupil © etui (2016) wages in eastern europe 11

12 Overcoming endogeneity and accounting fictions (EWCS): Task content, sectors, gender, educ, exper, autonomy etc. jan drahokoupil © etui (2016) wages in eastern europe 12

13 Conclusions return on capitalreturn on job to reach EMU equilibriumto reach DE to reach EMU equilibrium 20152010 Austria-11%0% France-2%6% Belgium1%2% Germany4%0%4% Estonia13%106%111% Bulgaria15%179%187% Czechia25%59%61% Hungary42%145%152% Romania52%221%231% Poland55%83%86% Lithuania65%142%148% Slovakia71%79%82% Latvia79%172%180% jan drahokoupil © etui (2016) wages in eastern europe 13

14 Conclusions 2 jan drahokoupil © etui (2016) wages in eastern europe 14

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