Akademik Veri Yönetim Sistemi
3rd International Conference on Data, Electronics and Computing, ICDEC 2024, Kayseri, Türkiye, 18 - 20 Eylül 2024, cilt.1455 LNNS, ss.449-473, (Tam Metin Bildiri)
In the economic literature, the analysis of the relationship between real wages and productivity has been based on two approaches to the causality between variables. Orthodox economics sees productivity as the cause of wages. In contrast, inefficient wage theories (such as the Solow Model, Nutrition Model, Shapiro and Stiglitz) suggest that wages affect productivity. This study aims to determine which theory is valid for Türkiye with quarterly data for the period 2009Q1-2023Q4. It seeks to contribute to the implementation of appropriate policies for Türkiye by accurately establishing the relationship between these variables. Furthermore, using the ARDL and Toda-Yamamoto methods, the study aims to contribute to the literature. The findings obtained with the ARDL method indicate that an increase in real wages leads to increased productivity, confirming the efficient wage theories. Furthermore, the study reveals that while the increase in employment contributes to productivity, the increase in working hours has a negative effect on productivity. There is a one-way causality between real wages, employment, working hours and productivity according to the Toda-Yamamoto analysis. According to the study’s findings, efficient wage models are valid in Türkiye.