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A Simulation Model Of The Effects Of An Increase In The Minimum Wage On Employment Output And The Price Level
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Book Synopsis A Simulation Model of the Effects of an Increase in the Minimum Wage on Employment, Output and the Price Level by : Edward N. Wolff
Download or read book A Simulation Model of the Effects of an Increase in the Minimum Wage on Employment, Output and the Price Level written by Edward N. Wolff and published by . This book was released on 1980 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Minimum Wages written by David Neumark and published by MIT Press. This book was released on 2008 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive review of evidence on the effect of minimum wages on employment, skills, wage and income distributions, and longer-term labor market outcomes concludes that the minimum wage is not a good policy tool.
Book Synopsis Report of the Minimum Wage Study Commission by : United States. Minimum Wage Study Commission
Download or read book Report of the Minimum Wage Study Commission written by United States. Minimum Wage Study Commission and published by . This book was released on 1981 with total page 562 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Myth and Measurement by : David Card
Download or read book Myth and Measurement written by David Card and published by Princeton University Press. This book was released on 2015-12-22 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: From David Card, winner of the Nobel Prize in Economics, and Alan Krueger, a provocative challenge to conventional wisdom about the minimum wage David Card and Alan B. Krueger have already made national news with their pathbreaking research on the minimum wage. Here they present a powerful new challenge to the conventional view that higher minimum wages reduce jobs for low-wage workers. In a work that has important implications for public policy as well as for the direction of economic research, the authors put standard economic theory to the test, using data from a series of recent episodes, including the 1992 increase in New Jersey's minimum wage, the 1988 rise in California's minimum wage, and the 1990–91 increases in the federal minimum wage. In each case they present a battery of evidence showing that increases in the minimum wage lead to increases in pay, but no loss in jobs. A distinctive feature of Card and Krueger's research is the use of empirical methods borrowed from the natural sciences, including comparisons between the "treatment" and "control" groups formed when the minimum wage rises for some workers but not for others. In addition, the authors critically reexamine the previous literature on the minimum wage and find that it, too, lacks support for the claim that a higher minimum wage cuts jobs. Finally, the effects of the minimum wage on family earnings, poverty outcomes, and the stock market valuation of low-wage employers are documented. Overall, this book calls into question the standard model of the labor market that has dominated economists' thinking on the minimum wage. In addition, it will shift the terms of the debate on the minimum wage in Washington and in state legislatures throughout the country. With a new preface discussing new data, Myth and Measurement continues to shift the terms of the debate on the minimum wage.
Book Synopsis The Impact of the Minimum Wage on Regional Labor Markets by : Ronald J. Krumm
Download or read book The Impact of the Minimum Wage on Regional Labor Markets written by Ronald J. Krumm and published by . This book was released on 1981 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The prosperity of the U.S. economy and the welfare of the population depend critically on the efficient allocation of resources not only in each area of production activity but also among all possible locations. Labor plays an essential role in the production process. If the trend in increased minimum wages continues in future years, the growth and decline of economic activity among regions can be substantially altered. The minimum wage impairs the location decisions of employers and employees, thereby altering the allocation of resources among regions. Regions that offer high amenity levels and low costs of producing consumption goods and services will become high-cost-of-labor areas, driving industries to other areas. The national minimum wage in this context is a barrier to the workings of a competitive and efficient economy, burdening the current and future earning power of low-skill workers and distributing economic activity inappropriately among the state"--Book jacket.
Book Synopsis Distributional Effects of the Minimum Wage by : Margaret Alice O'Brien-Strain
Download or read book Distributional Effects of the Minimum Wage written by Margaret Alice O'Brien-Strain and published by . This book was released on 1999 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Employment Effects of Minimum Wage Rates by : John M. Peterson
Download or read book Employment Effects of Minimum Wage Rates written by John M. Peterson and published by American Enterprise Institute Press. This book was released on 1969 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Minimum Wages, Unemployment Benefits, and Equilibrium Unemployment by : J. J. Graafland
Download or read book Minimum Wages, Unemployment Benefits, and Equilibrium Unemployment written by J. J. Graafland and published by . This book was released on 1991 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Unemployment Effects of Minimum Wages by : Jacob Mincer
Download or read book Unemployment Effects of Minimum Wages written by Jacob Mincer and published by . This book was released on 1976 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Minimum Wage and Labor Market Outcomes by : Christopher J. Flinn
Download or read book The Minimum Wage and Labor Market Outcomes written by Christopher J. Flinn and published by MIT Press. This book was released on 2011-02-04 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The introduction of a search and bargaining model to assess the welfare effects of minimum wage changes and to determine an “optimal” minimum wage. In The Minimum Wage and Labor Market Outcomes, Christopher Flinn argues that in assessing the effects of the minimum wage (in the United States and elsewhere), a behavioral framework is invaluable for guiding empirical work and the interpretation of results. Flinn develops a job search and wage bargaining model that is capable of generating labor market outcomes consistent with observed wage and unemployment duration distributions, and also can account for observed changes in employment rates and wages after a minimum wage change. Flinn uses previous studies from the minimum wage literature to demonstrate how his model can be used to rationalize and synthesize the diverse results found in widely varying institutional contexts. He also shows how observed wage distributions from before and after a minimum wage change can be used to determine if the change was welfare-improving. More ambitiously, and perhaps controversially, Flinn proposes the construction and formal estimation of the model using commonly available data; model estimates then enable the researcher to determine directly the welfare effects of observed minimum wage changes. This model can be used to conduct counterfactual policy experiments—even to determine “optimal” minimum wages under a variety of welfare metrics. The development of the model and the econometric theory underlying its estimation are carefully presented so as to enable readers unfamiliar with the econometrics of point process models and dynamic optimization in continuous time to follow the arguments. Although most of the book focuses on the case where only the unemployed search for jobs in a homogeneous labor market environment, later chapters introduce on-the-job search into the model, and explore its implications for minimum wage policy. The book also contains a chapter describing how individual heterogeneity can be introduced into the search, matching, and bargaining framework.
Book Synopsis Minimum Wages and Employment by : C. Ragacs
Download or read book Minimum Wages and Employment written by C. Ragacs and published by Springer. This book was released on 2004-06-08 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: Christian Ragacs develops contributions to the theory of minimum wages, while taking rationing and spill-over effects on markets other than the labour market into account. Following an introduction into the theory of minimum wages and a discussion of methodological problems, four new theoretical models are developed; two of them comparative static in nature and two models of endogenous growth. The results are contradictory - partly supporting the 'textbook' theory and partly yielding unorthodox results, such as no change in the steady state rates of growth and employment.
Book Synopsis Increasing the Minimum Wage by : Margaret O'Brien-Strain
Download or read book Increasing the Minimum Wage written by Margaret O'Brien-Strain and published by Public Policy Instit. of CA. This book was released on 2000-05-01 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Consequences of Minimum Wage Laws by : James B. Rebitzer
Download or read book The Consequences of Minimum Wage Laws written by James B. Rebitzer and published by . This book was released on 1991 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists generally agree that the immediate and direct effect of a binding minimum wage law is to move firms backward along the demand curve for low skill workers. However, this prediction of worker displacement depends critically on a model of firm behavior that abstracts from problems of work incentives. In this paper we re-examine the theoretical basis for the consensus view of minimum wage laws. The central finding is that when firms use the threat of dismissal to elicit high levels of work effort, an increase in the minimum wage may have the immediate and direct effect of increasing the level of employment in low wage jobs. The formal logic of our model is similar to that found in the model of labor demand under monopsony. However, unlike the monopsony model, the positive employment effect of the minimum wage emerges in a labor market comprised of a large number of firms competing for the labor services of identical workers.
Book Synopsis The Effect of the Minimum Wage and Monetary Policy on Inequality and the Aggregate Economy by : Joonwoo Park
Download or read book The Effect of the Minimum Wage and Monetary Policy on Inequality and the Aggregate Economy written by Joonwoo Park and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation, I examine the effect of the minimum wage and monetary policy on inequality and the aggregate economy. The first chapter develops a theoretical model to simulate the impact of policy experiments on labor income inequality and the aggregate economy. The second chapter estimates the effect of monetary policy on wage and employment inequality using a reduced-form empirical model.The first chapter of this dissertation develops a theoretical framework for analyzing the effect of the minimum wage and monetary policy on labor income inequality. I build a dynamic stochastic general equilibrium (DSGE) model with heterogeneous worker skills, labor search friction, and minimum wage. I calibrate the model to match the observed labor force participation rates, unemployment rates, and wage premia for each skill level from the Current Population Survey Outgoing Rotation Group (CPS ORG) data. I find that a minimum wage increase reduces income inequality, mostly through an increase in low-skilled labor income while leaving a smaller negative effect on other skill types' labor income and the aggregate output. Contractionary monetary policy also reduces income inequality in the presence of minimum wage; real minimum wage rises due to ensuing deflation, while other skill types' labor incomes fall due to a recession. Capital-skill complementarity amplifies these effects by giving an additional incentive for firms to substitute with high-skilled labor and capital.The second chapter of this dissertation analyzes empirically the monetary policy effect on employment and wage inequality. I estimate a structural vector autoregression model that includes key macroeconomic variables as well as skill-specific employment and wage series from the CPS ORG data. I identify the monetary policy shock using the high-frequency monetary policy surprises from the FOMC announcements as an external instrument. I find that a contractionary monetary policy shock reduces wage inequality because the middle-skilled wage grows at a higher rate, but does not significantly impact relative employment.
Book Synopsis Employment Effects of a Youth Differential in the Minimum Wage by : Philip Stanley Borba
Download or read book Employment Effects of a Youth Differential in the Minimum Wage written by Philip Stanley Borba and published by . This book was released on 1979 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Do Workers in the Informal Sector Benefit from Cuts in the Minimum Wage? by : Ariel Fiszbein
Download or read book Do Workers in the Informal Sector Benefit from Cuts in the Minimum Wage? written by Ariel Fiszbein and published by World Bank Publications. This book was released on 1992 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Wage-Price Spiral by : Ms.Magda E. Kandil
Download or read book The Wage-Price Spiral written by Ms.Magda E. Kandil and published by International Monetary Fund. This book was released on 2003-08-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using quarterly time-series data for a sample of twelve industrial countries, the paper investigates the dynamics of nominal wage and price adjustments in the face of aggregate demand shocks. The evidence illustrates patterns of the wage-price spiral and accompanying fluctuations. During economic expansions, the overlap of nominal adjustments in labor and product markets prolongs output expansion while maintaining or increasing the standard of living. In contrast, structural and institutional settings appear to have moderated the severity of the effects of contractionary demand shocks on real output growth and the standard of living in the variety of countries under investigation.
