經濟成長、薪資停滯? 初探台灣實質薪資與勞動生產力成長脫勾之成因

林依伶 and 楊子霆 ()
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林依伶: 中央銀行經濟研究處, http://www.cbc.gov.tw/mp.asp?mp=2
楊子霆: Institute of Economics, Academia Sinica, Taipei, Taiwan, https://www.econ.sinica.edu.tw/

No 17-A012, IEAS Working Paper : academic research from Institute of Economics, Academia Sinica, Taipei, Taiwan

Abstract: One of the most puzzling fact about Taiwan economy in the past 15 years is that the growth of real wage rate has fallen massively behind the growth of productivity (real GDP per hour worked). Many previous studies suggested this phenomenon could be due to the decline in the share of labor compensation. We examine this issue empirically by decomposing the growth gap between real wage rate and productivity into the growth of three components: share of labor compensation, wage to labor compensation ratio, and the relative price of output to consumption (i.e. the ratio of the GDP deflator to CPI). In contrast to the traditional view, we find that the change in the relative price of output to consumption contributes the most to wage-productivity growth gap. The decline in the relative price of output to consumption can explain 87% of annual growth gap between real wage rate and productivity during 2003-2014.

Pages: 39 pages
Date: 2017-08
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