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Similarly, nobody believes that the SOE bosses' nominal pay bears any relation to their real remuneration.
This lagging in the behaviour of shares can be understood by remembering that they are determined by the quotient of the real remuneration of the factor and its productivity; both variables move, according to marginal productivity theory, in the same direction.
As we show below, the real remuneration of some factors of production increases with τ, while the real remuneration of other factors decreases.
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However, it reduces the real remuneration of workers and capitalists in the manufacturing sector.
If ϕ a > 0, protectionist policies increase the real remuneration of capitalists in the manufacturing sector.
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In this section, we derive the effects of protectionism and changes in the terms of trade on the real remunerations of the factors of production.
We also derive the effect of export taxes on real factor remuneration in the short, medium and long terms.
"What is needed is real reform of remuneration committees, widening the membership to allow direct employee and investor representation, to ensure that company decision-making is improved," he says.
Judge added that the government needed to show that it valued the judiciary by at least maintaining the level of remuneration in real terms, particularly for the high court.
This requirement was evident in a fewer cases where ASHAs demanded for remuneration without real performances.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com