![Using simple geometric progression.. low wage workers income has risen 2.20096% per year over the past 5 years. While household income per member has risen by 2.58306% per year over the past 5 years.Not sure if figures have been deflated to accommodate inflation. if they are not, inflation over the past 5 years is 18.41% or 3.44% year on year from 2006 to 2011 (http://www.singstat.gov.sg/stats/themes/economy/hist/cpi.html). On the basis that inflation is overstated, it seems like base wages has risen just as the same rate as inflation. Fair enough. while GDP has grown from 33114SGD to 50123SGD since 2006, (45.36% or 7.768% growth year on year basis); bulk figure is 51.36% or 8.64%. [give or take 0.25 for rounding errors] source: http://www.singstat.gov.sg/stats/themes/economy/hist/gdp.htmlWhile the MAS does not do inflationary targeting nor does the MND targets base wage increases. Coupled with the lack of luster and impact of labor unions; let’s expect the same for the next 10years. Our pay is not going to jump miraculously and average prices will rise just as much as our pay does.
The only expected increase of wealth can then be from either [1]Bonuses paid out or [2]Investment gains. I would like to add in option [3]Tax bracket creep changes, that is the amount taxed on mundane citizens alike will decrease.
In a nutshell, wages are fairly indexed to inflation (on the basis that inflation is overstated due to reasons from the Boskin convention) which is good. The given inflation of 3.44% year on year is good greasing to the economy, providing growth and reasons for spending.
Recommendations are to further [1]stimulate domestic market growth by heavy subsidizing or possibly government subsidized mortgage to citizens for new business start-ups. [2]Implementation of minimum wage for fairer distribution of profits from managerial class to working class. Also to break monopsony wage determination by firms.
Research methodology.[1]Comparing simple VS geometric progression for year on year calculation. [both calculation methods would carry errors arising from aggregating statistics however that of geometric progression would be less][2]Five years of information sourced from singstat. Sample size is extremely small of n=5. However good time-series comparison for relevance sake. Statistics should be compared cross-section towards other similar economies for further understanding.
Further notes[1] Figures are deflated to 2009 prices according to Singstat.[2] Figures are aggregated data from a wide range of industries and departments, expect certain rounding errors and inconsistency.[3]It is to note that the standard deviation of CPI from 2006 to 2011 is 2.23 which is relatively large given the range is from 100 to 105.2; it is best to view CPI figures independently due the the large deviation.](http://24.media.tumblr.com/tumblr_m41gwqsqs81qzo6m3o1_1280.jpg)
Using simple geometric progression.. low wage workers income has risen 2.20096% per year over the past 5 years. While household income per member has risen by 2.58306% per year over the past 5 years.
Not sure if figures have been deflated to accommodate inflation. if they are not, inflation over the past 5 years is 18.41% or 3.44% year on year from 2006 to 2011 (http://www.singstat.gov.sg/stats/themes/economy/hist/cpi.html). On the basis that inflation is overstated, it seems like base wages has risen just as the same rate as inflation. Fair enough.
while GDP has grown from 33114SGD to 50123SGD since 2006, (45.36% or 7.768% growth year on year basis); bulk figure is 51.36% or 8.64%. [give or take 0.25 for rounding errors] source: http://www.singstat.gov.sg/stats/themes/economy/hist/gdp.html
While the MAS does not do inflationary targeting nor does the MND targets base wage increases. Coupled with the lack of luster and impact of labor unions; let’s expect the same for the next 10years. Our pay is not going to jump miraculously and average prices will rise just as much as our pay does.
The only expected increase of wealth can then be from either [1]Bonuses paid out or [2]Investment gains. I would like to add in option [3]Tax bracket creep changes, that is the amount taxed on mundane citizens alike will decrease.
In a nutshell, wages are fairly indexed to inflation (on the basis that inflation is overstated due to reasons from the Boskin convention) which is good. The given inflation of 3.44% year on year is good greasing to the economy, providing growth and reasons for spending.
Recommendations are to further [1]stimulate domestic market growth by heavy subsidizing or possibly government subsidized mortgage to citizens for new business start-ups. [2]Implementation of minimum wage for fairer distribution of profits from managerial class to working class. Also to break monopsony wage determination by firms.
Research methodology.
[1]Comparing simple VS geometric progression for year on year calculation. [both calculation methods would carry errors arising from aggregating statistics however that of geometric progression would be less]
[2]Five years of information sourced from singstat. Sample size is extremely small of n=5. However good time-series comparison for relevance sake. Statistics should be compared cross-section towards other similar economies for further understanding.
Further notes
[1] Figures are deflated to 2009 prices according to Singstat.
[2] Figures are aggregated data from a wide range of industries and departments, expect certain rounding errors and inconsistency.
[3]It is to note that the standard deviation of CPI from 2006 to 2011 is 2.23 which is relatively large given the range is from 100 to 105.2; it is best to view CPI figures independently due the the large deviation.
Last poster before school term closes. Looks so beng right. Sigh… it’s raining again. Tomorrow’s accounting paper.
Some videos from italy. music by Goo Hye Sun
you can check out my flavors page www.flavors.me/phileo
Just had my first paper today, had some time tonight so I just mashed the videos together.
Some more pictures from Rome
Some more pictures from Rome
Some more pictures from Rome
last term
some shots from italy
recent work.. hand-drawn, underestimated the difficulties of transferring drawn images to photoshop!
