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Opening Pandora's box: the measurement of average wages
| Content Provider | Semantic Scholar |
|---|---|
| Author | Ritter, Joseph A. |
| Copyright Year | 1996 |
| Abstract | Macroeconomists have the dangerous habit of referring to “the” real wage, “the” nominal wage, or just “wages.” A theory’s prediction about “wages” has usually led to a paper or electronic hunt for a time series on “wages.” In this article I describe the differences among the most common choices and explore how their differences can systematically change the answers to some important questions about “wages.” The different characteristics of average hourly earnings (AHE), compensation per hour (CPH), and the employment cost index (ECI) suit them to different purposes, though often none is ideal. |
| Starting Page | 15 |
| Ending Page | 21 |
| Page Count | 7 |
| File Format | PDF HTM / HTML |
| DOI | 10.3886/icpsr01158.v1 |
| Volume Number | 78 |
| Alternate Webpage(s) | http://research.stlouisfed.org/publications/review/96/03/9603jr.pdf |
| Alternate Webpage(s) | https://doi.org/10.3886/icpsr01158.v1 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
