EFFECT OF HIGH WAGES ON AVERAGE WAGES IN THE CZECH REPUBLIC

• Authors: Marek Luboš
• Languages of publication: EN

Abstracts

EN

A standard indicator for the amount of wages is the average value, i.e., the arithmetic mean. The average wages are regularly published as one of the economic quantities in which all employees are interested. As a matter of course it is often said that about two-thirds of employees do not achieve the average value of wages. One of the reasons for this fact may be the existence of high wages – that is, wages substantially higher than most of the others. We will see in this paper that, even if there are not many such wages, they may have a strong effect on the average value. Our calculations will show this effect on particular data. We will exclude the high wages from the complete set and recalculate the average values after such exclusions. We will also study the proportion of the high wages in the quantity and amount of all wages. We will also be interested in the value of the median and how this value is changed by excluding the high wages. Another observation is that the high wages and their effects on the average values is predominantly a domain of men – this influence is much smaller for women.

Keywords

EN

AVERAGE WAGE; CZECH REPUBLIC

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2019
• Volume: 67
• Issue: 4
• Pages: 404 – 425

Contributors

author

Marek Luboš

• University of Economics Prague, Faculty of Informatics and Statistics, Department of Statistics and Probability, nám. W. Churchilla 4, 130 67 Prague 3, Czech Republic