Employment gains from minimum-wage hikes under perfect competition: A simple general-equilibrium analysis
نویسندگان
چکیده
منابع مشابه
Why Minimum Wage Hikes May Not Reduce Employment
may accept findings that minimum wage increases do not adversely affect employment, but economists question them. Critics have charged that the studies use poor data or incorrect methodologies. Some economists also argue that no convincing theoretical model predicts that minimum wage increases do not reduce employment. Many of these economists believe that low-wage labor markets are instead cha...
متن کاملThe Effect of Minimum Wage on Iran's Macroeconomic Variables in The Framework of a Dynamic Stochastic General Equilibrium Model
In this paper ,in order to investigate the economic effects of the minimum wage policy on macroeconomic variables in the framework of the new Keynesian theory, a dynamic stochastic equilibrium general (DSGE) model has been simulated and estimated for an open and small oil exporter economy conforming with the structure of Iran's economy in the range from 1370 to 1395 .In the above mentioned mode...
متن کاملCan a minimum wage increase employment and reduce prices in a neoclassical perfect information economy?
This paper investigates the possibility that the imposition of a minimum wage increases employment in the affected sector, measured in terms of hours of work, and lowers product prices. Unlike related prior theoretical research, I consider a neoclassical perfect information economy. Both labor and product markets are assumed to be perfectly competitive. Workers choose the number of hours of wor...
متن کاملEmployment Fluctuations with Equilibrium Wage Stickiness
Following a recession, the aggregate labor market is slack–employment remains below normal and recruiting efforts of employers, as measured by help-wanted advertising and vacancies, are low. A model of matching friction explains the qualitative responses of the labor market to adverse shocks, but requires implausibly large shocks to account for the magnitude of observed fluctuations. The incorp...
متن کاملSkilled–unskilled wage inequality: A general equilibrium analysis
The paper develops a static three sector competitive general equilibrium model of a small open economy in which skilled labour is mobile between a traded good sector and a nontraded good sector andunskilled labour is specific to another traded good sector. The capital is perfectly mobile among all these three sectors. We examine the effects of change in different factor endowments and of global...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Review of International Economics
سال: 2017
ISSN: 0965-7576
DOI: 10.1111/roie.12322