Kashepov A.V. Between fair and reasonable wage levels: macroeconomic comparisons by cointrues and regions. Bulletin of the Altai Academy of Economics and Low. 2022. No 4-2. Pp. 197-204.

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Abstract

The article proposes a macroeconomic approach to the analysis of international and interregional differences in the level of wages. This approach is based on the idea that the overall level of wages in a country or region cannot be fair, but it can be justified from a macroeconomic point of view. The justification is proposed to be made through the relationship between labor productivity, as a quotient of the division of GDP (GRP) by the number of employees, and the annual wage fund of the employee. The purpose of the article is to find a way to estimate the understated or inflated labor price, and depending on this, create a basis for solving questions about the relationship of wage levels with inflation, unemployment and labor productivity. The practical significance consists in demonstrating a simple method of quantifying the overestimation or underestimation of the level of wages in a country or region, and on this basis developing recommendations in the field of macroeconomic, social, labor policy.