Determinants of labor productivity in the USA
This study aims to examine whether the labor productivity of the US population directly depends on public or private insurance coverage of people, employment level, life expectancies, spending on the public health system as a percentage of GDP, and spending on the public health system in natural ter...
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| Format: | Article |
| Language: | English |
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LLC "CPC "Business Perspectives"
2023-12-01
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| Series: | Problems and Perspectives in Management |
| Subjects: | |
| Online Access: | https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/19421/PPM_2023_04_Kuzior.pdf |
| _version_ | 1797327983140143104 |
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| author | Aleksandra Kuzior Vitaliia Koibichuk Serhii Drozd Dymytrii Grytsyshen Tetiana Vasylieva |
| author_facet | Aleksandra Kuzior Vitaliia Koibichuk Serhii Drozd Dymytrii Grytsyshen Tetiana Vasylieva |
| author_sort | Aleksandra Kuzior |
| collection | DOAJ |
| description | This study aims to examine whether the labor productivity of the US population directly depends on public or private insurance coverage of people, employment level, life expectancies, spending on the public health system as a percentage of GDP, and spending on the public health system in natural terms. Empirical testing was carried out on the USА statistical data for 1987–2021 using a regression model with the fitting procedure backward stepwise selection (in Statgraphics software), and a multivariate adaptive regression spline MARS (using Salford Predictive Modeler software). The research hypothesis was confirmed for only two indicators: life expectancies and spending on the public health system in natural terms. Their impact on labor productivity appeared to be directly proportional. As an indicator, spending on the public health system has a greater impact on the change in productivity (0.0058%), whereas life expectancy has a lesser effect (0.0047%). The study showed that the MARS model provides more objective and accurate results compared to the regression model with the fitting procedure – backward stepwise selection. This conclusion is based on a comparison of real data modeled by both methods. The study proved that labor productivity in the USA grew yearly from 1987 to 2021 (the constant term in the MARS model’s regression equation is +0.48428). To calculate the specific values of labor productivity for each year, a model was developed depending on the optimal basic functions (automatically generated by the MARS model depending on the current values of life expectancies and spending on the public health system in natural terms).
AcknowledgmentThis study is funded by Department of Applied Social Sciences of the Faculty of Organization and Management of the Silesian University of Technology for the year 2023 (grant number 13/020/BK_23/0081). |
| first_indexed | 2024-03-08T06:44:39Z |
| format | Article |
| id | doaj.art-bf6c8c21a5a04e1b9c6db1daf6d99d6c |
| institution | Directory Open Access Journal |
| issn | 1727-7051 1810-5467 |
| language | English |
| last_indexed | 2024-03-08T06:44:39Z |
| publishDate | 2023-12-01 |
| publisher | LLC "CPC "Business Perspectives" |
| record_format | Article |
| series | Problems and Perspectives in Management |
| spelling | doaj.art-bf6c8c21a5a04e1b9c6db1daf6d99d6c2024-02-03T08:15:28ZengLLC "CPC "Business Perspectives"Problems and Perspectives in Management1727-70511810-54672023-12-0121472473910.21511/ppm.21(4).2023.5419421Determinants of labor productivity in the USAAleksandra Kuzior0https://orcid.org/0000-0001-9764-5320Vitaliia Koibichuk1https://orcid.org/0000-0002-3540-7922Serhii Drozd2Dymytrii Grytsyshen3https://orcid.org/0000-0002-1559-2403Tetiana Vasylieva4https://orcid.org/0000-0003-0635-7978Ph.D., Habilitated Doctor, Professor, Department of Applied Social Sciences, Silesian University of Technology, Poland; Oleg Balatskyi Department of Management, Sumy State University, UkrainePh.D., Associate Professor, Department of Economic Cybernetics, Sumy State University, UkrainePostgraduate Student, Department of Economic Cybernetics, Sumy State University, UkraineDoctor of Economics, Professor, Vice-Rector, Zhytomyr Polytechnic State University, UkraineD.Sc., Professor, Department of Financial Technologies and Entrepreneurship, Sumy State University, Ukraine; Faculty of Organization and Management, Silesian University of Technology, Poland; The London Academy of Science and Business, United KingdomThis study aims to examine whether the labor productivity of the US population directly depends on public or private insurance coverage of people, employment level, life expectancies, spending on the public health system as a percentage of GDP, and spending on the public health system in natural terms. Empirical testing was carried out on the USА statistical data for 1987–2021 using a regression model with the fitting procedure backward stepwise selection (in Statgraphics software), and a multivariate adaptive regression spline MARS (using Salford Predictive Modeler software). The research hypothesis was confirmed for only two indicators: life expectancies and spending on the public health system in natural terms. Their impact on labor productivity appeared to be directly proportional. As an indicator, spending on the public health system has a greater impact on the change in productivity (0.0058%), whereas life expectancy has a lesser effect (0.0047%). The study showed that the MARS model provides more objective and accurate results compared to the regression model with the fitting procedure – backward stepwise selection. This conclusion is based on a comparison of real data modeled by both methods. The study proved that labor productivity in the USA grew yearly from 1987 to 2021 (the constant term in the MARS model’s regression equation is +0.48428). To calculate the specific values of labor productivity for each year, a model was developed depending on the optimal basic functions (automatically generated by the MARS model depending on the current values of life expectancies and spending on the public health system in natural terms). AcknowledgmentThis study is funded by Department of Applied Social Sciences of the Faculty of Organization and Management of the Silesian University of Technology for the year 2023 (grant number 13/020/BK_23/0081).https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/19421/PPM_2023_04_Kuzior.pdfemploymentlabor productivitylife expectancyMARSpublic healthsustainable development |
| spellingShingle | Aleksandra Kuzior Vitaliia Koibichuk Serhii Drozd Dymytrii Grytsyshen Tetiana Vasylieva Determinants of labor productivity in the USA Problems and Perspectives in Management employment labor productivity life expectancy MARS public health sustainable development |
| title | Determinants of labor productivity in the USA |
| title_full | Determinants of labor productivity in the USA |
| title_fullStr | Determinants of labor productivity in the USA |
| title_full_unstemmed | Determinants of labor productivity in the USA |
| title_short | Determinants of labor productivity in the USA |
| title_sort | determinants of labor productivity in the usa |
| topic | employment labor productivity life expectancy MARS public health sustainable development |
| url | https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/19421/PPM_2023_04_Kuzior.pdf |
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