The missing link between wages and labour productivity in tourismVioleta Sugar
, Štefan Bojnec
, Sergej Gričar
, 2020, original scientific article
Abstract: The present article aims to analyse wage-labour productivity cau-salities in Croatia and Slovenia using cointegration methods basedon monthly time series data of variables for labour productivityand real gross wages in tourism industry during the periodDecember 1999%January 2020. The data vector is integrated bychain indices with the constant base January 2000%100. A sto-chastic trend and shocks are covered in the analysis. Shocks arelinked to the European Union accession, and economic crisis fol-lowing with overwhelmed tourist arrivals. The contribution of theresearch is two-fold. First, the equations for at most normal dis-tributed variables of labour productivity and real wages in tourismare exposed. Three spatial cointegration relations confirm labourproductivity integrity of the regional tourism market. Second,pair-wise causalities indicate one cointegrated vector for labourproductivity, which drives real gross wages in tourism sub-indus-tries. These results suggest that for a higher non-seasonal assess-ment of real gross wage, the labour productivity should rise, i.e.less workers, more robotization or more tourist arrivals with betterquality solutions. These findings are at most important to beimplemented after the COVID-19 infection crisis with expectedrestructurings and digital transformation in the tourism industry.
Found in: ključnih besedah
Summary of found: ...during the periodDecember 1999%January 2020. The data vector is integrated bychain indices with the constant... ...Croatia, error correction model (ECM), real grosswage, labour productivity,...
Keywords: Croatia, error correction model (ECM), real grosswage, labour productivity, Slovenia, vector error correction model (VECM)
Published: 10.12.2020; Views: 867; Downloads: 31
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