Iryna M. Sotnyk, Oleksii I. Karpishchenko, Tetiana V. Yakushko
Problems of Determining Minimum Wage in Ukraine
(original language – Ukrainian)
This paper investigates current conditions, problems and ways of improving minimum wage formation in Ukraine. The concept and role of minimum wage in the economy as well as the dynamics of nominal and real minimum wage levels were considered. Based on international comparisons and comprehensive analysis of the dynamics of minimum wage, consumer basket and cost of living in Ukraine, it is substantiated the close economic relationship between these indicators. The results of investigation of key economic indicators concerning wages and life quality allowed offering a number of recommendations to improve the mechanisms for determining minimum wage in Ukraine. The proposed improvements are based on a comprehensive assessment of consequences of unjustified minimum wage increase and take into account the experience of the development countries in this field.
Key words: government regulation, minimum wage, nominal and real wage, consumer basket, living wage.
Placed in №2, 2017.
Affiliations:
IRYNA M. SOTNYK, Dr. (Economics), Professor, Department of Economics and Business-Administration, Sumy State University;
OLEKSII I. KARPISHCHENKO, C.Sc. (Economics), Professor, Department of Economics and Business-Administration, Sumy State University;
TETIANA V. YAKUSHKO, Student of Balatsky Academic and Research Institute of Finance, Economics and Management, Sumy State University
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