Özet:

The Classical Economists were assuming the labour as a homogeneous factor and a change that occur in real wages couldn’t effect the labour productivity and couldn’t shift the labour demand curve. But at the middle of the 20th century, The New Keynesian Economists enhanced some criticism against that thought. Accordingly to the New Keynesian Economists increase at real wages can effect the labour productivity as positively. Although New Keynesian Economists also brought some explanation for the involuntary unemployment and developed a few approaches about the real wage rigidities, one has called Efficiency Wage Theory. In this study, following the Efficiency Wage Theory that explained why firms paying a wage which is above the market clearing level to their workers, the relation has tested between the annually wage growth rate (ORUBO) and annually labour productivity growth rate (EVBO) for 34 countries that related to the Organisation for Economic Co-operation and Development (OECD) between the years of 2000 and 2010. According to findings ofPanel Pedroni Cointegration Analysisa cointegration has arised between the labour productivity and the real wages

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