Wages Around the World: Pay across Occupations and Countries
The percentage (or absolute) differential between the wages of more skilled and less skilled workers within each country. All else the same, this skill differential reflects the return to human capital and the degree of inequality in the wage structure in the countries.
The ratio of the wages of workers in the same occupation between the countries, measured in a common currency through exchange rates. All else the same, this cost differential reflects the different cost of producing goods with these workers.
The difference in wages for workers in the same occupation, measured in purchasing power parity (PPP) units. All else the same, these living standard differentials measure differences in the economic well-being of similarly skilled workers.
KeywordsExchange Rate Collective Bargaining Economic Freedom Purchase Power Parity Advanced Country
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