The Real Wage as Indicator of Wealthy: Comparative Analysis Between Russia and Other Countries

DOI

10.2991/iscfec-18.2019.236How to use a DOI?

Keywords

real wage; economic analysis; Russia; price of goods

Abstract

The article is part of an experiment concerning the study of the level of wealth in the Russian Federation using the real wage system. The premise is that traditional economic indicators such as nominal GDP are not able to explain the level of real economy and its trend; other indices such as human capital or unemployment levels are not exhaustive. For this reason, authors believe that there is the necessity to find a model of measurement that takes in greater consideration life style of their inhabitants, namely: the cost of products and the monthly salary. This method of measurement revolutionizes the traditional one because it does not take into account some factors such as national borders (the level of wealth varies from city to city) even if it presents some technical problems that are the basket of assets to be taken into account and volatility of prices and salaries. In any case, the new measurement method wants to visualize the level of economic well-being based on the real standard of living that people, according to their salary, can afford.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - V. Barhatov
AU  - K. Ospanova
AU  - A. Campa
AU  - D. Bents
PY  - 2019/01
DA  - 2019/01
TI  - The Real Wage as Indicator of Wealthy: Comparative Analysis Between Russia and Other Countries
BT  - Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2018)
PB  - Atlantis Press
SP  - 1039
EP  - 1042
SN  - 2352-5428
UR  - https://doi.org/10.2991/iscfec-18.2019.236
DO  - 10.2991/iscfec-18.2019.236
ID  - Barhatov2019/01
ER  -