PDFAbstract: This paper demonstrates that the relative wages are significantly different by country. The relative wages are ratios of average wages of specific occupations to the minimum wage. The possible causes of the different wage patterns are analyzed. An online database is used, which makes it possible to compare the relative wages of similar occupations corresponding to 4 digits ISCO categories. The database of the analysis includes data of 25 countries and 22 occupations. It is examined if there are certain groups of countries, where the wage patterns show similarities.
Keywords: Wage structure, ISCO’08 classification, cluster analysis, cross-country comparison
Cite this paper
Tibor Takács. (2018) A Cross-Country Comparison of Relative Wages. International Journal of Economics and Management Systems, 3 , 125-131
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