Hiroko, OKUDAIRA; Miho, TAKIZAWA; Fumio, OHTAKE; … - Research Institute of Economy, Trade and Industry (RIETI) - 2013
Recent developments in empirical studies have shown that an increase in minimum wages has a non-negative overall employment effect, which is inconsistent with the prediction generated by the textbook competitive labor market model. This paper examines the mechanism that explicitly explains this...