typekey:junkcharts meinte am 25. Aug, 01:27:
thanks
thanks for pulling out the data. It does look suspicious, doesn't it? Is this a case of fitting the data to the story?I don't think I get your point about relative costs though. For a given year, the euro-area average is a fixed number; and so if Germany's point is below those of France and Italy, doesn't it imply that Germany has lower unit labor cost for that year?
Mahalanobis antwortete am 25. Aug, 04:05:
Relative Unit Labour Costs
Example:Hypothetical Unit Labour Costs (*100):
Germany: 120 110 100
France: 80 85 95
.
.
.
Average (of 12 countries): 70 75 80
Setting first observation to 100:
Germany: 100 92 83
France: 100 106 118
.
.
.
Average: 100 107 114
Relative Unit Labour Costs:
Germany: 100 87 73
France: 100 99 104
.
.
.
Average: 100 100 100
Any other suggestions?
