The Causes of Developmental Changes in Functional Structure of Income in the Slovak Economy Cover Image

Príčiny zmien vo vývoji funkčnej štruktúry príjmov v slovenskej ekonomike
The Causes of Developmental Changes in Functional Structure of Income in the Slovak Economy

Author(s): Károly Morvay
Subject(s): Economy, National Economy
Published by: Ekonomický ústav SAV a Prognostický ústav SAV
Keywords: compensation of employees; value added; employment; aggregate demand

Summary/Abstract: The low wage share has been one the traditional problems of the Slovak economy. This article deals with the change in the structure of income: the prevailing low share of wages in value added began to grow significantly in recent years. The functional structure of income in the years 2013 – 2015 developed in such a way as in the Slovak economy has not previously been recorded. The reversal was linked to a new phenomenon in the labor market: employment and labor income parameters were improving despite only weak economic growth (it was previously not conceivable). Change of trends in the structure of income (together with the improvement of labor market indicators) was enabled by changed structure of aggregate demand increases, employment growth in the state-influenced branches, changes in the sectoral composition of GDP growth and also by changes in the forms of employment.

  • Issue Year: 63/2015
  • Issue No: 09
  • Page Range: 906-921
  • Page Count: 16
  • Language: Slovak