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Author : Zhongzheng Lin
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.F/5 ( download)
Download or read book The Employment Effect of a Minimum Wage Law in a Shirking Model with Heterogeneous Workers written by Zhongzheng Lin and published by . This book was released on 1998 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Chung-cheng Lin
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (91 download)
Download or read book The Employment Effect of a Minimum Wage Law in a Shirking Model with Heterogeneous Workers written by Chung-cheng Lin and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Zhongzheng Lin
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.F/5 ( download)
Download or read book The Just-cause Employment Law in a Shirking Model with Heterogenous Workers written by Zhongzheng Lin and published by . This book was released on 1998 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Chung-cheng Lin
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (245 download)
Download or read book The Employment Effect of a Minimum Wage Law in a Shirking Model with Heterogenous Workers written by Chung-cheng Lin and published by . This book was released on 1998 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Zhongzheng Lin
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.F/5 ( download)
Download or read book The Employment Effects of Minimum Wages in Monopsony written by Zhongzheng Lin and published by . This book was released on 1999 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 : James B. Rebitzer
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.3/5 ( download)
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.
Author : David Card
Publisher : Princeton University Press
ISBN 13 : 1400880874
Total Pages : 455 pages
Book Rating : 4.4/5 (8 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 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.
Author : Christopher J. Flinn
Publisher : MIT Press
ISBN 13 : 0262288761
Total Pages : 321 pages
Book Rating : 4.2/5 (622 download)
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.
Author : John M. Peterson
Publisher : American Enterprise Institute Press
ISBN 13 :
Total Pages : 188 pages
Book Rating : 4.F/5 ( download)
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 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paul Redmond
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Impact of a Minimum Wage Increase on Hours Worked written by Paul Redmond and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A minimum wage increase could lead to adverse employment effects for certain sub-groups of minimum wage workers, while leaving others unaffected. This heterogeneity could be overlooked in studies that examine the overall population of minimum wage workers. In this paper, we test for heterogeneous effects of a minimum wage increase on the hours worked of minimum wage employees in Ireland. For all minimum wage workers, we find that a ten percent increase in the minimum wage leads to a one-hour reduction in weekly hours worked, equating to an hours elasticity of approximately -0.3. However, for industry workers and those in the accommodation and food sector, the impact is larger, with an elasticity of -0.8. We also find a negative impact on the hours worked among men on minimum wage, with no significant effect for women. In line with suggestions from the recent literature, our study uses administrative wage data to accurately identify those in receipt of minimum wage, while also studying the dynamic impact on hours worked over multiple time periods using a fully flexible difference-in-differences estimator.
Author : Simon Rottenberg
Publisher : A E I Press
ISBN 13 :
Total Pages : 560 pages
Book Rating : 4.F/5 ( download)
Download or read book The Economics of Legal Minimum Wages written by Simon Rottenberg and published by A E I Press. This book was released on 1981 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papers presented at a conference held at the American Enterprise Institute, Washington, D.C., Nov. 1 and 2, 1979. Includes bibliographies.
Author : José Azar (College teacher)
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (111 download)
Download or read book Minimum Wage Employment Effects and Labor Market Concentration written by José Azar (College teacher) and published by . This book was released on 2019 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Why is the employment effect of the minimum wage frequently found to be close to zero? Theory tells us that when wages are below marginal productivity, as with monopsony, employers are able to increase wages without laying off workers, but systematic evidence directly supporting this explanation is lacking. In this paper, we provide empirical support for the monopsony explanation by studying a key low-wage retail sector and using data on labor market concentration that covers the entirety of the United States with fine spatial variation at the occupation-level. We find that more concentrated labor markets - where wages are more likely to be below marginal productivity - experience significantly more positive employment effects from the minimum wage. While increases in the minimum wage are found to significantly decrease employment of workers in low concentration markets, minimum wage-induced employment changes become less negative as labor concentration increases, and are even estimated to be positive in the most highly concentrated markets. Our findings provide direct empirical evidence supporting the monopsony model as an explanation for the near-zero minimum wage employment effect documented in prior work. They suggest the aggregate minimum wage employment effects estimated thus far in the literature may mask heterogeneity across different levels of labor market concentration
Author : C. Y. Kelvin Yuen
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (113 download)
Download or read book Minimum Wage in a Multi-tier Search and Wage-posting Model with Cross-market Substitutions written by C. Y. Kelvin Yuen and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: While minimum wage policy is widely adopted in the real world, can it effectively raise the average wage of lower paid jobs without having large detrimental consequences for employment? The empirical literature fails to establish robust findings. We develop a general-equilibrium search and wage-posting framework with heterogeneous workers and tasks matching in multi-tier labor markets: abstract, routine high-skilled, routine middle-skilled, manual middle-skilled and manual low-skilled. We incorporate rich cross-market spillovers and compositional effects from individual responses to market thickness. As a result of minimum wage hikes, we show that (i) the unemployment rate at the minimum wage binding market is higher, while all other markets enjoy a lower unemployment rate; (ii) employment in the manual low-skilled jobs is lower, whereas employment in the routine high-skilled and manual middle-skilled markets is higher due to cross-market substitutions; and, (iii) employment in other markets has ambiguous responses due to conflicting effects on potential worker entry and unemployment. By calibrating the model to fit the U.S. data, we evaluate the impacts of the federal minimum wage hike (2007-2009) and the on-going minimum wage increase in Seattle (2017-2021). We find that the minimum wage effects on employment on the binding markets depend crucially on the magnitudes of spillover and compositional effects and that the employment effects may be weak in a nonbinding market. Moreover, our results suggest that, while both minimum wage hikes reduce aggregate output, they only generate small effects on submarket average and overall average wages.
Author : Jere Richard Behrman
Publisher :
ISBN 13 :
Total Pages : 408 pages
Book Rating : 4.E/5 ( download)
Download or read book The Short- and Long-run Effects of Minimum Wages on the Distribution of Earnings written by Jere Richard Behrman and published by . This book was released on 1980 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Charles Brown
Publisher :
ISBN 13 :
Total Pages : 106 pages
Book Rating : 4.:/5 (254 download)
Download or read book The Effect of the Minimum Wage on Employment and Unemployment written by Charles Brown and published by . This book was released on 1982 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we survey theoretical models of the effect of the minimum wage and, in somewhat greater detail, evidence of its effect on employment and unemployment. Our discussion of the theory emphasizes recent work using two-sector and heterogeneous-worker models. We then summarize and evaluate the large literature on employment and unemployment effects of the minimum on teenagers. Finally, we survey the evidence of the effect of the minimum wage on adult employment, and on employment in low-wage industries and areas.
Author : Joonwoo Park
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.3/5 (744 download)
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.
