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The Minimum Wage Tested By Economic Theory
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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 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.
Book Synopsis The Minimum Wage Tested by Economic Theory by : Roy Lemon Smith
Download or read book The Minimum Wage Tested by Economic Theory written by Roy Lemon Smith and published by . This book was released on 1915 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Myth and Measurement by : David Edward Card
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.
Book Synopsis The Economic Theory of a Legal Minimum Wage by : Sidney Webb
Download or read book The Economic Theory of a Legal Minimum Wage written by Sidney Webb and published by . This book was released on 1912 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economic Theory of the Minimum Wage and the Fair Labor Standards Act by : Frank Robert Varon
Download or read book The Economic Theory of the Minimum Wage and the Fair Labor Standards Act written by Frank Robert Varon and published by . This book was released on 1943 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Minimum Wage written by Deepak Lal and published by . This book was released on 1995 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: CONTENTS: Introduction; Poverty Alleviation; Efficiency; Conclusions; Summary.
Book Synopsis Making Work Pay by : Jared Bernstein
Download or read book Making Work Pay written by Jared Bernstein and published by . This book was released on 1998 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the impact of the 1996-97 increase in the minimum wage on the employment opportunities, wages, and incomes of law-wage workers and their households.
Book Synopsis Evaluating Minimum Wage Laws by : André Müller
Download or read book Evaluating Minimum Wage Laws written by André Müller and published by GRIN Verlag. This book was released on 2020-08-11 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2020 in the subject Business economics - Economic Policy, grade: 1,7, SRH - Mobile University, language: English, abstract: The present paper aims at evaluating minimum wage laws. In order to reflect the topic, two countries – Germany and the United Kingdom –, which have already introduced minimum wages, are chosen as examples. Furthermore, the paper examines minimum wages from the perspective of two different economic theories on government intervention by introducing the neoclassical and the Keynesian approach. It investigates the observed actual impact and effectiveness of minimum wage legislation against the presented market theories as well as against the objectives and expectations raised by the legislation. Finally, the student paper gives a recommendation whether the introduction of minimum wages is actually worthwhile or not. The paper starts with a definition of the problem and introduces objectives as well as current relevance of the topic. Subsequently, the theoretical background is reflected. This includes the definition of the term minimum wage as well as presenting the neoclassical and the Keynesian economic theory. Chapter two finally ends with a short summary. Afterwards, the paper continues with Chapter three, which describes the minimum wage concepts of Germany and the United Kingdom. Therefore, the implementation track records explain the history, structure and the scope of the different minimum wage concepts. The critical discussion in chapter four finally evaluates the observed actual impact and effectiveness of minimum wages against the economic theories. Furthermore, it reflects the expectations and objectives which are raised by the government. The paper concludes with a summary and an outlook.
Download or read book A Living Wage written by John A. Ryan and published by . This book was released on 1908 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Minimum Wages and Employment - Theory and Empirical Evidence with a Special Emphasis on Germany by : Peter Schmidt
Download or read book Minimum Wages and Employment - Theory and Empirical Evidence with a Special Emphasis on Germany written by Peter Schmidt and published by GRIN Verlag. This book was released on 2009-02 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2008 in the subject Business economics - Economic Policy, grade: 1,0 (A), University of Wisconsin-Milwaukee (Department of Economics), course: Labor Economics II, 42 entries in the bibliography, language: English, abstract: One of the most important issues that was in the center of the political debate in Germany in the last few months is the introduction of minimum wages. It was caused by the politically forced imposition of a minimum wage in the sector for postal services which, in the view of many experts, provides a competitive advantage for the major postal service company "Deutsche Post World Net"1 compared to its competitors. Then it happened that the "PIN - Group AG" one of the most important domestic competitors of the "Deutsche Post World Net" was threatened by insolvency as its largest shareholder the publisher "Axel Springer AG" was no longer willing to invest money in the "PIN - Group AG". Additionally, many newspapers published by Axel Springer AG wrote articles against the imposition of a minimum wage for many weeks and published many interviews with economic experts warning about the negative effects of a minimum wage on the overall German labor market. Furthermore, political considerations, e.g. by the secretary of labor, to introduce a federal minimum wage in Germany even caused the chairmen of the eight leading economic research institutes in Germany to publish a letter in the newspaper "Das Handelsblatt"2 where they advise politicians against the introduction of a federal minimum wage if (large) employment losses should be avoided. On the other hand, a few other researchers, experts and politicians like the "IAB"3 as a specific labor market research institute believe that minimum wages even could create jobs and must not necessarily destroy them. This paper is motivated by this ongoing debate between economists and policymakers in the whole world. That is why in the first part of the paper the major theoretical frame
Book Synopsis The Minimum Wage Concept in Economic Theory from Early Times to Alfred Marshall by : John Irwin Peters
Download or read book The Minimum Wage Concept in Economic Theory from Early Times to Alfred Marshall written by John Irwin Peters and published by . This book was released on 1960 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :E. G. West Publisher :Economic Council of Canada and the Institute for Research on Public Policy ISBN 13 : Total Pages :142 pages Book Rating :4.F/5 ( download)
Download or read book Minimum Wages written by E. G. West and published by Economic Council of Canada and the Institute for Research on Public Policy. This book was released on 1980 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph on minimum wages, with special reference to Canada - covers trends since 1965 concerning local level wage structure and wage determination, and deals with economic theory issues regarding employment, unemployment, income distribution and prices, effectiveness as an anti-poverty and income redistribution tool, and its preference to negative income tax. Bibliography pp. 111 to 119 and statistical tables.
Book Synopsis Minimum Wages and On-the-job Training by : Daron Acemoglu
Download or read book Minimum Wages and On-the-job Training written by Daron Acemoglu and published by . This book was released on 1999 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers, because they prevent these workers from taking wage cuts necessary to finance training. We show that when the assumption of perfectly competitive labor markets underlying this theory is relaxed, minimum wages can increase training of affected workers, by inducing firms to train their unskilled employees. More generally, a minimum wage increases training for constrained workers, while reducing it for those taking wage cuts to finance their training. We provide new estimates on the impact of the state and federal increases in the minimum wage between 1987 and 1992 of the training of low wage workers. We find no evidence that minimum wages reduce training. These results are consistent with our model, but difficult to reconcile with the standard theory of human capital.
Book Synopsis Selected Articles on Minimum Wages and Maximum Hours by : Egbert Ray Nichols
Download or read book Selected Articles on Minimum Wages and Maximum Hours written by Egbert Ray Nichols and published by . This book was released on 2012-04-01 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: Additional Contributors Are Barbara N. Grimes, C. G. Haines, F. B. Sayre, And Many Others.
Book Synopsis The Economic Theory of a Legal Minimum Wage ... Reprinted for Private Circulation from the Journal of Political Economy, Vol. XX. by : Sidney Webb
Download or read book The Economic Theory of a Legal Minimum Wage ... Reprinted for Private Circulation from the Journal of Political Economy, Vol. XX. written by Sidney Webb and published by . This book was released on 1912 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Fight for $15 written by David Rolf and published by New Press, The. This book was released on 2015-04-07 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Rolf shows that raising the minimum wage to $15 is both just and necessary, lest the American dream of middle class prosperity turn into a nightmare” (David Cay Johnston, Pulitzer Prize–winning journalist). Combining history, economics, and commonsense political wisdom, The Fight for $15 makes a deeply informed case for a national fifteen-dollars-an-hour minimum wage as the only practical solution to reversing America’s decades-long slide toward becoming a low-wage nation. Drawing both on new scholarship and on his extensive practical experiences organizing workers and grappling with inequality across the United States, David Rolf, president of SEIU 775—which waged the successful Seattle campaign for a fifteen dollar minimum wage—offers an accessible explanation of “middle out” economics, an emerging popular economic theory that suggests that the origins of prosperity in capitalist economies lie with workers and consumers, not investors and employers. A blueprint for a different and hopeful American future, The Fight for $15 offers concrete tools, ideas, and inspiration for anyone interested in real change in our lifetimes. “The author’s plainspoken approach and stellar scholarship illuminate in-depth discussions about the deliberate policy decisions that began to decimate the middle class at the start of the 1980s as well as the insidious new ways in which big business continues to attack American workers today via stagnant wages, rampant subcontracting, unpredictable scheduling, and other detrimental practices associated with the so-called ‘share economy.’” —Kirkus Reviews “David Rolf has become the most successful advocate for raising wages in the twenty-first century.” —Andy Stern, senior fellow at Columbia University’s Richard Paul Richman Center for Business, Law, and Public Policy
Book Synopsis Measuring the Impact of Minimum Wages by : William Francis Maloney
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.
