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Development Of Real Unit Wage Costs On The Macro- And Mezo-Level Of The Czech Republic

Author

Listed:
  • Bozena Kaderabkova

    (Faculty of Civil Engineering, Czech Technical University in Prague)

  • Emilie Jasova

    (Ministry of Labour and Social Affairs)

Abstract

The aim of the paper is to analyse the development and the level of cost inflation pressures originating from the labour market in terms of the different levels of the Czech Republic. At first, we will mention several definitions of unit labour costs and the reasons for their examination and monitoring. Then we will select the concept of the nominal and real unit wage costs and data for the macro-level and mezzo-level in the Czech Republic. It is also evaluated the development of real unit wage costs indicator on individual levels of the Czech Republic and extent the wage inflation potential on them. Finally, we localize the first clues about the negative impact of wages on prices on the mezzo-level, which can be used for creating the prediction of the national economy in the near future.

Suggested Citation

  • Bozena Kaderabkova & Emilie Jasova, 2019. "Development Of Real Unit Wage Costs On The Macro- And Mezo-Level Of The Czech Republic," International Journal of Economic Sciences, International Institute of Social and Economic Sciences, vol. 8(2), pages 45-59, December.
    • Handle: RePEc:sek:jijoes:v:8:y:2019:i:2:p:45-59
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    More about this item

    Keywords

    Wage cost inflation pressures; nominal unit wage costs; real unit wage costs; mezzo-level; macro-level; wage cost inflation potential;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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