Analysis of the Factors Affecting Labour Supply
Abstract
According to classical economists, the wage that determines the labor supply is the real wage rate. It is accepted in classics that the substitution effect is bigger than the income effect. In Keynesians, the factor that determines the labor supply is accepted as the nominal wage. This circumstance causes to labor suppliers to fall into error. Monetarist economists accept the labor supply as the function of the expected wage. With reference to them, the selection between working and relaxation is made based on the expected wage level. The sum of employees and unemployed in a country is called as the labor supply. In this context; In this research that made an econometric analysis of the factor determine the labor supply in Turkey case, the labor supply was used as the affected factor. The influencing factors are Inflation (CPI), Manufacturing Industry Production Index (Q), Labor Cost Index (W), Jobless Rate (İO), Labor Productivity(PL), GDP Growth Rate (GR) and Real Export (RX) variables. According to the econometrical results of the research, there is a long termed relationship between inflation, jobless rate, real exportation, labor productivity, real wage, growth, and labor supply.
Keywords
References
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Details
Primary Language
English
Subjects
-
Journal Section
Research Article
Authors
Ahmet Oğuz
*
Karabük Üniversitesi
0000-0001-5291-2819
Türkiye
Publication Date
April 27, 2018
Submission Date
March 14, 2018
Acceptance Date
April 26, 2018
Published in Issue
Year 2018 Number: 56