Cost of Labor Translation in Healthcare Sector between Poland and the UK the Evidence from Obstetrics and Gynecology Department
Anna Jędrzejczyk, Marcin Jędrzejczyk
Journal of Scientific Research and Reports · pp. 174–179 · Published 7 Oct 2014
10.9734/JSRR/2015/12897Abstract
Wages translation, understood as a process of restating the remuneration of selected employee from a particular currency to another currency, is based on the market exchange rate. In the recent studies there are some statistically proven evidences that this procedures are inapplicable. Recently the theory of translation based on productivity differences, firstly introduced by Balassa and Samuelson, has been enriched by more precise determination of productivity: a labor productivity Q defined as quotient of real GDP to cost of labor W. The main aim of the paper is to present the equalizing mechanism, which is hereby proposed as the quotient of productivity factors in compared countries. The case study involves labor costs represented by wages of doctors from obstetrics and gynecology departments in Poland and the UK.
References (9)
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