Proceedings of the 4th Economics & Finance Conference, London

ASSIGNING MONETARY VALUES TO UNPAID WORK IN SLOVAKIA

MARIANA POVAŽANOVÁ, ANNA VALLUŠOVÁ, MÁRIA URAMOVÁ, ALENA KAŠČÁKOVÁ

Abstract:

The article deals with unpaid work in Slovakia. Input-based approaches are used to assign a monetary value to unpaid work activities in Slovakia using the data from 2012 nation – wide survey conducted by the Faculty of Economics, Matej Bel University, Slovakia. This nation-wide survey contains representative data about 13 individual unpaid work activities based on Eurostat methodology. In this paper after taking into account the specific conditions of Slovakia, two input-based market replacement cost approaches, namely generalist and specialist are applied to calculate the monetary value of unpaid work. The results show that, depending on the chosen wage concept and activities, the monetary value of unpaid work ranges from approximately 18 % to 25 % of GDP in Slovakia. The paper concludes that in comparison with the other traditionally market economies the value is lower due to lower level of wages of corresponding market substitutes.

Keywords: unpaid work; monetary value of unpaid work; input-based methods

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