Purchasing power and value of the average wage in the Baltic states

Direct Link:
Collection:
Mokslo publikacijos / Scientific publications
Document Type:
Straipsnis / Article
Language:
Anglų kalba / English
Title:
Purchasing power and value of the average wage in the Baltic states
Authors:
In the Journal:
Intelektinė ekonomika. 2014, t. 8, Nr. 2(20), p. 34-51
Subject Category:
LT
Estija (Estonia); Lietuva (Lithuania); Darbo apmokėjimas / Remuneration of work; Ekonominė padėtis / Economic conditions; Nacionalinė sąskaityba. Pajamos / National accounts. Income; Latvija (Latvia).
Summary / Abstract:

LTReikšminiai žodžiai: BVP; Baltijos šalys (Baltic states); Darbo užmokestis; Ekonominis augimas; Infliacijos efektas; Infliacijos poveikis; Pajamos; Pajamos ir nusidėvėjimas; Pajamų apskaičiavimas; Pajamų ir nusidėvėjimo vertė; Pajamų vertės apskaičiavimas; Vertė; Vidutinis mėnesinis darbo užmokestis; Vidutinės mėnesinės algos vertė; Average monthly wages, effect of inflation; Baltic countries; Economic growth; Effect of inflation; GDP; Income; Income and depreciation; Income calculation; Salaries; Value; Value of income and depreciation; Value of income calculation; Value of the average monthly wages; Wages.

ENBefore the financial crisis, the Baltic States had the highest growth rate of the Gross domestic product (hereinafter – GDP) in the European Union. Also, these States were called "the Baltic tigers". During the crisis, the decline of GDP was the highest in the Baltic States. After the crisis, economic indicators of Estonia economy had the highest growth rates in the European Union. Such progress and life quality in Estonia surprises the other two neighboring Baltic States – Latvia and Lithuania. However, GDP of Lithuania exceeds the GDP indicator of Estonia almost twice in absolute value (Eurostat). Since October 1, 2014, the minimum monthly wage in Lithuania increased by 3.5 percent. Based on information provided by the European Union Statistics (hereinafter – Eurostat), from 2004, the average wage in the Baltic States on average increased by 8.2, 10.3, and 7.7 percent per annum. It should be emphasized that the growth rate of the average wage in monetary expression significantly fell behind the actual decline rate of the wage purchasing power. During the period of 2004-2013, the purchasing power and value of the average wage in the Baltic States has decreased in respectively assessing by the standard coefficient of inflation and the "Gold Standard". [From the publication]

DOI:
10.13165/IE-14-8-2-03
ISSN:
1822-8011
Subject:
Related Publications:
Permalink:
https://www.lituanistika.lt/content/59805
Updated:
2021-03-22 17:45:08
Metrics:
Views: 28    Downloads: 1
Export:
Download