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A differential measure of the real wage index

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  • Baye, Michael R.
  • Black, Dan A.

Abstract

In this paper we derive an approximation of the real wage index that does not require the estimation of preferences. The major advantage of this approach is that the measure is extremely easy to compute and provides a first-order approximation of the rate of change in the real wage index.

Suggested Citation

  • Baye, Michael R. & Black, Dan A., 1991. "A differential measure of the real wage index," Economics Letters, Elsevier, vol. 36(3), pages 295-298.
    • Handle: RePEc:eee:ecolet:v:36:y:1991:i:3:p:295-298
    DOI: 10.1016/0165-1765(91)90036-K
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    References listed on IDEAS

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    1. Pencavel, John H, 1979. "Constant-Utility Index Numbers of Real Wages: Revised Estimates," American Economic Review, American Economic Association, vol. 69(1), pages 240-243, March.
    2. Pencavel, John H, 1979. "Constant-Utility Index Numbers of Real Wages: Reply," American Economic Review, American Economic Association, vol. 69(4), pages 686-687, September.
    3. Samuelson, Paul A & Swamy, S, 1974. "Invariant Economic Index Numbers and Canonical Duality: Survey and Synthesis," American Economic Review, American Economic Association, vol. 64(4), pages 566-593, September.
    4. Pencavel, John H, 1977. "Constant-Utility Index Numbers of Real Wages," American Economic Review, American Economic Association, vol. 67(2), pages 91-100, March.
    5. Coles, Jeffrey L & Harte-Chen, Paul, 1985. "Real Wage Indices," Journal of Labor Economics, University of Chicago Press, vol. 3(3), pages 317-336, July.
    6. Balk, Bert M, 1990. "On Calculating Cost-of-Living Index Numbers for Arbitrary Income Levels," Econometrica, Econometric Society, vol. 58(1), pages 75-92, January.
    7. Cleeton, David L, 1982. "The Theory of Real Wage Indices," American Economic Review, American Economic Association, vol. 72(1), pages 214-225, March.
    8. Baye, Michael R & Black, Dan A, 1988. "The Microeconomic Foundations of Measuring Bracket Creep and Other Tax Changes," Economic Inquiry, Western Economic Association International, vol. 26(3), pages 471-484, July.
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