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What (who) is premium wage - definition
ECONOMIC EFFECT THAT REAL INCOME RATIOS BETWEEN HIGH AND LOW INCOME COUNTRIES ARE SYSTEMATICALLY EXAGGERATED BY GDP CONVERSION AT MARKET EXCHANGE RATES
Low-wage economy; Low wage economy; High-wage economy; High wage economy; Low-wage economies
Liquidity premium
Liquidity Premium
In economics, a liquidity premium is the explanation for a difference between two types of financial securities (e.g.
Wage labour
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RELATIONSHIP WHERE A WORKER SELLS LABOUR TO AN EMPLOYER
Wage-labor; Wage labor; Wage-labour; Wage laborer; Paid work; Wage labourer
Wage labour (also wage labor in American English), usually referred to as paid work, paid employment, or paid labour, refers to the socioeconomic relationship between a worker and an employer in which the worker sells their labour power under a formal or informal employment contract.: "All labor contracts were/are designed legally to bind a worker in one way or another to fulfill the labor obligations the worker has undertaken.
Union wage premium
The union wage premium refers to the degree to which wages for union members exceed those for otherwise similar non-unionized workers. Union wage premiums are one of the most researched and analyzed issues in labor economics.
Wikipedia
Penn effect
The Penn effect is the economic finding that real income ratios between high and low income countries are systematically exaggerated by gross domestic product (GDP) conversion at market exchange rates. It is associated with what became the Penn World Table, and it has been a consistent econometric result since at least the 1950s.
The "Balassa–Samuelson effect" is a model cited as the principal cause of the Penn effect by neo-classical economics, as well as being a synonym of “Penn effect”.
