| Abstract [eng] |
Sakalauskaitė, L. (2022). Wages and the assessment of the factors affecting it in the countries of the European Union: final master’s thesis in program of economics curriculum. Advisor of the final thesis: asist. dr. Dovilė Ruplienė Vilnius University, Šiauliai academy, 50 p. (57 p.). This master's thesis examines the factors determining the average wage in the countries of the European Union. The aim of this work is to evaluate the factors determining wages from a theoretical point of view, to assess their impact on the average wage in the European Union countries, taking into account the level of labor market flexibility. The first part of the thesis defines and presents the concept and functions of wages, the concept of labor market flexibility. An analysis of the scientific literature is performed in order to elucidate and present the factors influencing the level of wages. After naming these factors, the empirical research conducted with them is analyzed. The second part of the thesis presents the methodology for assessing the factors determining the average wage in the European Union countries. Theoretical model of average wage determinants evaluation is discussed, the stages of empirical model development are detailed: research sample and period substantiation, grouping of countries, wage determinants indicators detailing, research hypotheses formulation, empirical research stages and evaluation methods discussion and research limitations. The third part of the thesis analyzes the trends in the average wage, its determinants and the indicators reflecting these factors in the European Union as a whole and in the groups of countries with different labor market flexibility in the period 2005–2018. After developing the assessment model, a regression analysis of the factors determining the average wage gap in the countries of the European Union is performed and the impact of these factors on the groups of countries with different labor market flexibility during the study period is determined. The results of the research showed that the average wage in the European Union countries is significantly affected by the unemployment rate and labor productivity. The impact of these factors varies across groups of countries in the European Union with unequal labor market flexibility. |
