Question
6.A) How is labour productivity measured in line with Measuring Productivity - OECD Manual? B) For what reasons is labour productivity used for? C) What
6.A) How is labour productivity measured in line with Measuring Productivity - OECD Manual?
B) For what reasons is labour productivity used for?
C) What are issues linked to labour productivity?
D) Why doesn't productivity show up in the price setting equation below?
P = (1 + 0)(1 + y)SLPe
where:
Theta is the price mark up above nominal unit labour costs or expected labour share
Gamma is the mark-up above nominal wage
Pe stands for expected price level
SL is the "normal" share that wage negotiators accept as representing an appropriate division of income I normal times.
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