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Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4./5 ( download)
Download or read book Measuring the Impact of Minimum Wage Policies on the Economy written by and published by World Bank Publications. This book was released on with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Luis Riveros C.
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.3/5 ( download)
Download or read book Measuring the Impact of Minimum Wage Policies on the Economy written by Luis Riveros C. and published by World Bank Publications. This book was released on 1988 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional statistical techniques probably underestimate the negative effects of protective wage regulations on young and unskilled workers -- who should be getting training, not minimum wages.
Author : David Card
Publisher : Princeton University Press
ISBN 13 : 0691169128
Total Pages : 454 pages
Book Rating : 4.6/5 (911 download)
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 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Robert Pollin
Publisher : Cornell University Press
ISBN 13 : 1501729527
Total Pages : 310 pages
Book Rating : 4.5/5 (17 download)
Download or read book A Measure of Fairness written by Robert Pollin and published by Cornell University Press. This book was released on 2018-07-05 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: In early 2007, there were approximately 140 living wage ordinances in place throughout the United States. Communities around the country frequently debate new proposals of this sort. Additionally, as a result of ballot initiatives, twenty-nine states and the District of Columbia, representing nearly 70 percent of the total U.S. population, maintain minimum wage standards above those set by the federal minimum wage.In A Measure of Fairness, Robert Pollin, Mark Brenner, Jeannette Wicks-Lim, and Stephanie Luce assess how well living wage and minimum wage regulations in the United States serve the workers they are intended to help. Opponents of such measures assert that when faced with mandated increases in labor costs, businesses will either lay off workers, hire fewer low-wage employees in the future, replace low-credentialed workers with those having better qualifications or, finally, even relocate to avoid facing the increased costs being imposed on them.The authors give an overview of living wage and minimum wage implementation in Louisiana, New Mexico, Arizona, California, Massachusetts, and Connecticut to show how these policies play out in the paychecks of workers, in the halls of legislature, and in business ledgers. Based on a decade of research, this volume concludes that living wage laws and minimum wage increases have been effective policy interventions capable of bringing significant, if modest, benefits to the people they were intended to help.
Author : David Neumark
Publisher : MIT Press
ISBN 13 : 0262141027
Total Pages : 389 pages
Book Rating : 4.2/5 (621 download)
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.
Author : William Francis Maloney
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4./5 ( download)
Download or read book Measuring the Impact of Minimum Wages written by William Francis Maloney and published by World Bank Publications. This book was released on 2003 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Simple numerical measures of the minimum wage may offer deceptive indicators of its impact. Alternative measures, such as kernel density or cumulative distribution plots, are more reliable, and highlight influences higher in the wage distribution or on the informal sector. Panel employment data from Colombia, where minimum wages seem high and binding, show that the minimum wage can have important impacts on wages and unemployment across the wage distribution.
Author : James J. Heckman
Publisher : University of Chicago Press
ISBN 13 : 0226322858
Total Pages : 585 pages
Book Rating : 4.2/5 (263 download)
Download or read book Law and Employment written by James J. Heckman and published by University of Chicago Press. This book was released on 2007-11-01 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt: Law and Employment analyzes the effects of regulation and deregulation on Latin American labor markets and presents empirically grounded studies of the costs of regulation. Numerous labor regulations that were introduced or reformed in Latin America in the past thirty years have had important economic consequences. Nobel Prize-winning economist James J. Heckman and Carmen Pagés document the behavior of firms attempting to stay in business and be competitive while facing the high costs of complying with these labor laws. They challenge the prevailing view that labor market regulations affect only the distribution of labor incomes and have little or no impact on efficiency or the performance of labor markets. Using new micro-evidence, this volume shows that labor regulations reduce labor market turnover rates and flexibility, promote inequality, and discriminate against marginal workers. Along with in-depth studies of Colombia, Peru, Brazil, Argentina, Chile, Uruguay, Jamaica, and Trinidad, Law and Employment provides comparative analysis of Latin American economies against a range of European countries and the United States. The book breaks new ground by quantifying not only the cost of regulation in Latin America, the Caribbean, and in the OECD, but also the broader impact of this regulation.
Author : John M. Peterson
Publisher : American Enterprise Institute Press
ISBN 13 :
Total Pages : 136 pages
Book Rating : 4.F/5 ( download)
Download or read book Minimum Wages written by John M. Peterson and published by American Enterprise Institute Press. This book was released on 1981 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph on the measurement of minimum wage effects in industrial sectors in the USA - describes new statistical method and demonstrates employment losses for low income categories, especially in retail trades and lowest wage rate manufacturing groups. Graphs and references.
Author : Marvin H. Kosters
Publisher : American Enterprise Institute
ISBN 13 : 9780844770642
Total Pages : 142 pages
Book Rating : 4.7/5 (76 download)
Download or read book The Effects of the Minimum Wage on Employment written by Marvin H. Kosters and published by American Enterprise Institute. This book was released on 1996 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Clinton administration has claimed its proposal to increase the minimum wage would not affect employment; other research supports that a higher minimum wage means fewer jobs.
Author : Yi Huang
Publisher : International Monetary Fund
ISBN 13 : 1498332307
Total Pages : 47 pages
Book Rating : 4.4/5 (983 download)
Download or read book Minimum Wages and Firm Employment written by Yi Huang and published by International Monetary Fund. This book was released on 2014-10-16 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides the first systematic study of how minimum wage policies in China affect firm employment over the 2000-2007 periods. Using a novel dataset of minimum wage regulations across more than 2,800 counties matched with firm-level data, we investigate both the effect of the minimum wage and its policy enforcement tightening in 2004. A dynamic panel (difference GMM) estimator is combined with a “neighbor-pairs-approach” to control for unobservable heterogeneity common to “border counties” that are subject to different minimum wage changes. We show that minimum wage increases have a significant negative impact on employment, with an estimated elasticity of -0.1. Furthermore, we find a heterogeneous effect of the minimum wage on employment which depends on the firm's wage level. Specifically, the minimum wage has a greater negative impact on employment in low-wage firms than in high-wage firms. Our results are robust for different treatment groups, sample attrition correction, and placebo tests.
Author : David Edward Card
Publisher :
ISBN 13 : 9780691043906
Total Pages : 422 pages
Book Rating : 4.0/5 (439 download)
Download or read book Myth and Measurement written by David Edward Card and published by . This book was released on 1995 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors present a powerful new challenge to the conventional view that higher minimum wages reduce jobs for low-wage workers. A distinctive feature of their research is the use of empirical methods borrowed from the natural sciences, including comparisons between the "treatment" and "control" groups formed when minimum wage rises for some workers but not for others. Line drawings.
Author : Jerold L. Waltman
Publisher : Algora Publishing
ISBN 13 : 0875866018
Total Pages : 248 pages
Book Rating : 4.8/5 (758 download)
Download or read book Minimum Wage Policy in Great Britain and the United States written by Jerold L. Waltman and published by Algora Publishing. This book was released on 2008 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzing wage policies and the political ideas that underlie them, including the irony of an Iraq funding bill leading to a minimum wage increase, this book compares not only Federal but State minimum wage policies and those of Britain as well. Going beyond the debate on public expenditure programs, the author examines the future of the "welfare state"? not from a perspective of entitlement but of citizenship in a public polity.
Author : Shi Li
Publisher : Springer Nature
ISBN 13 : 9811524211
Total Pages : 392 pages
Book Rating : 4.8/5 (115 download)
Download or read book Minimum Wages in China written by Shi Li and published by Springer Nature. This book was released on 2020-05-25 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers the positive and negative impacts of the minimum wage policy in China. Since China enacted its first minimum wage law in 1994, the magnitude and frequency of changes in the minimum wage have been substantial, both over time and across jurisdictions. The results from China’s experience show that rapidly increasing minimum wages have helped increase average wages and reduce the gender wage gap, income inequality, and poverty. However, the fast-rising minimum wage has also resulted in the loss of employment for young adults, women, low-skilled workers, and migrant workers. Additionally, higher minimum wages have a negative impact on firm profitability and adverse effects on firm’s human capital investment. In summary, the Chinese minimum wage policy has shown both positive and negative impacts on the affected workers. Through unpacking these findings, the book highlights the importance of rigorous research to inform evidence-based policymaking and provides lessons for other transitional and developing economies.
Author : Jerold L. Waltman
Publisher : University of Illinois Press
ISBN 13 : 9780252025457
Total Pages : 228 pages
Book Rating : 4.0/5 (254 download)
Download or read book The Politics of the Minimum Wage written by Jerold L. Waltman and published by University of Illinois Press. This book was released on 2000 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: The minimum wage as a value of civic republicanism The minimum wage appears to be a standard economic regulatory measure, yet a politics of symbolism more than anything else defines the political contests that periodically erupt over it. Detractors abhor its corruption of market principles, while supporters see it as a measure of society's symbolic commitment to the poor. Tracing the history of the minimum wage and exposing its inherent contradictions as a political issue, Jerold Waltman proposes an alternative to the economic arguments that now dominate debates over it. Citing overwhelming public support for the minimum wage as evidence of an enduring civic consciousness and humanitarianism, Waltman advocates recasting the discussion in terms of a political economy of citizenship. Such a perspective would focus on the communal value of work, the need for citizens to have a stake in the community, and the effects of economic inequality on the bonds of common citizenship. Positioning the minimum wage as a fulcrum for the most basic conflict underlying America's unique combination of democracy and a market economy, The Politics of the Minimum Wage shows how a defense of the minimum wage built on a communal sense of responsibility rests on a strong tradition of civic republicanism and strengthens the hope for a truly democratic society.
Author : Jonathan Garita Garita
Publisher :
ISBN 13 :
Total Pages : 236 pages
Book Rating : 4.:/5 (125 download)
Download or read book Essays on the Economic Incidence of Minimum Wage Policies written by Jonathan Garita Garita and published by . This book was released on 2021 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Minimum wage policies are implemented worldwide to protect workers and reduce inequality. This dissertation analyzes the effects of raising minimum wages on firms to shed new light on the policy's trade-offs. Additionally, this research provides new insights on how firms adjust their production process in response to a relative increase in the labor costs. For such purpose, I investigate Costa Rica's occupation-specific minimum wage setting. The first chapter focuses on different margins of firm and employment dynamics. I assemble rich administrative data covering the universe of workers and firms in 2006-2017 to construct firm-level exposure measures to the minimum wage policy. Then, I estimate the impact of differential exposure to the minimum wage on firm outcomes at several year horizons. The analysis suggests that minimum wages induce firms to increase their labor shares, but with a negative and persistent impact on their profitability. The positive effect on the labor shares moderates as firms reduce their employment levels and expand their capital stocks. Even though surviving firms slightly reduce their employment levels, they experience a substantial decline in hiring rates. Furthermore, employment elasticities are negative and more significant when accounting for the extensive margin effects (firm exit). Workers in occupations that are more susceptible to technology substitution face more substantial employment reductions. The second chapter studies the substitution dynamics between capital and labor using Costa Rica's minimum wage setting. I estimate the change in the capital and labor ratios after a minimum wage increase, finding important heterogeneity across occupational groups. Workers in low-skilled and routine intensive occupations experience more intensive substitution effects. Then, I exploit the diverse reduced-form elasticities to compute micro-elasticities of substitution between capital and labor. I consistently find a value below one, suggesting that the substitution away from labor towards capital is not large enough to reduce the labor share after a minimum wage increase. Specifically, I compute an elasticity of 0.59 for all firms, and significant heterogeneity across representative sectors, stressing differences in the production technologies across industries. The estimated value is higher in manufacturing (0.81) and tradable sectors (0.76) but smaller in non-tradable sectors (0.46). The third chapter examines the effect of raising minimum wages on firm entry and the associated implications on aggregate employment dynamics. The results of the analysis indicate that increasing the minimum wages led to a reduction in firm entry rates between 3.7 and 5.4 percent. I then exploit a dynamic framework of employment based on \cite{pugsley2019grown} to show that changes in the minimum wage has sizeable consequences on aggregate employment by deterring new firms from entering the market. Aggregate employment in Costa Rica is around 0.8 lower by 2017 due to the missing entrants induced by the policy
Author : François Eyraud
Publisher : International Labour Organization
ISBN 13 : 9789221170143
Total Pages : 154 pages
Book Rating : 4.1/5 (71 download)
Download or read book The Fundamentals of Minimum Wage Fixing written by François Eyraud and published by International Labour Organization. This book was released on 2005 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: This manual draws on the ILO's comprehensive database containing the principal legal provisions and minimum wage fixing mechanisms in 100 countries. The minimum wage has had a long and turbulent history, and this study sheds light on its intricacies by providing a thorough overview of the institutions and practices in different countries. It outlines the main topics for debate concerning the effects of minimum wages on major social and economic variables such as employment, wage inequality, and poverty. The book considers the various procedures countries use for implementation, including the criteria employed to fix the minimum wage, and how they are linked to specific country objectives. It then measures the efficiency of the minimum wage, and focuses on its impact on employment as a major political issue. For the benefit of non-specialists, the validity of econometric models and their results are examined.
Author : John P. Formby
Publisher : JAI Press
ISBN 13 : 9780762311880
Total Pages : 222 pages
Book Rating : 4.3/5 (118 download)
Download or read book Minimum Wages and Poverty written by John P. Formby and published by JAI Press. This book was released on 2005 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focuses on one set of policy issues relating to the collapse of the low wage labour market in the United States. How do alternative labour market policies improve the economic well being of families and persons at the bottom of the income distribution?
