Stochastic and Club Convergence in Real Wages in European Union: Evidence from Aggregate and Sector Level Data

IF 1.3 Q3 ECONOMICS
Ivan D. Trofimov, Ahmed Sharaan
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引用次数: 0

Abstract

The paper examined real wage convergence across 27 European economies, at aggregate and sectoral levels, using the panel unit root tests of stochastic convergence and the club clustering procedure. Convergence was absent for a panel as a whole, but present within the clubs. In most sectors, the common component of the relative wages was stationary, while idiosyncratic component contained unit roots, suggesting the country- and sector-specific drivers of convergence and only transitory effects of exogenous forces. The most pronounced club convergence was observed in the sectors characterized by significant labor mobility, knowledge intensity and speed of technological change.
欧盟实际工资的随机收敛和俱乐部收敛:来自总量和部门水平数据的证据
本文使用随机收敛的面板单位根检验和俱乐部聚类程序,在总体和部门层面检查了27个欧洲经济体的实际工资收敛情况。整个小组没有趋同,但在俱乐部内部却存在。在大多数部门,相对工资的共同组成部分是固定的,而特殊组成部分包含单位根,表明国家和部门特定的趋同驱动因素和外生力量的短暂影响。在劳动力流动性、知识强度和技术变革速度显著的部门中,观察到最明显的俱乐部趋同。
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来源期刊
CiteScore
1.50
自引率
0.00%
发文量
18
期刊介绍: Journal of International Commerce, Economics and Policy (JICEP) is a peer-reviewed journal that seeks to publish high-quality research papers that explore important dimensions of the global economic system (including trade, finance, investment and labor flows). JICEP is particularly interested in potentially influential research that is analytical or empirical but with heavy emphasis on international dimensions of economics, business and related public policy. Papers must aim to be thought-provoking and combine rigor with readability so as to be of interest to both researchers as well as policymakers. JICEP is not region-specific and especially welcomes research exploring the growing economic interdependence between countries and regions.
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