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On the Interaction between Minimum Wage Adoption and Fiscal Redistribution: A Theoretical and Empirical Investigation

Economides, George; Kammas, Pantelis; Moutos, Thomas - 2020

We explain the public’s support for the minimum wage (MW) institution despite economists’ warnings that the MW is a “blunt instrument” for redistribution. To do so we build a model in which workers are heterogeneous in ability, and the government engages in redistribution through the...

Persistent link: https://www.econbiz.de/10012269425

Minimum Wages, Capital Accumulation and Worker's Incomes

Economides, George; Moutos, Thomas - 2014

Using an intertemporal model of saving and capital accumulation we demonstrate that it is impossible for any binding minimum wage to increase the after-tax incomes of workers if the production function is Cobb-Douglas with constant returns to scale, or if there are no differences in ability...

Persistent link: https://www.econbiz.de/10010398531

Minimum Wages in the Presence of In-Kind Redistribution

Economides, George; Moutos, Thomas - 2017

unemployment benefits; we find that the MW is preferred by the majority of workers (even when the unemployed receive very generous … unemployment benefits). In the second model, the government engages in redistribution through the public provision of private goods … given generosity of the unemployment benefit scheme, the maximum, politically viable, MW is lower than in the absence of in …

Persistent link: https://www.econbiz.de/10011698712

Can Minimum Wages Raise Workers' Incomes in the Long Run?

Economides, George; Moutos, Thomas - 2016

Using an intertemporal model of saving and capital accumulation with two types of agents (workers and capitalists) we demonstrate that it is impossible for any binding minimum wage to increase the after-tax incomes of workers if the production function is Cobb-Douglas with constant returns to...

Persistent link: https://www.econbiz.de/10011522413

Heterogeneity and Persistence in Returns to Wealth

Fagereng, Andreas; Guiso, Luigi; Malacrino, Davide; … - 2018

We provide a systematic analysis of the properties of individual returns to wealth using twelve years of population data from Norway’s administrative tax records. We document a number of novel results. First, during our sample period individuals earn markedly different average returns on their...

Persistent link: https://www.econbiz.de/10011887367

Employment growth, inflation and output growth: Was Phillips right? Evidence from a dynamic panel

Caporale, Guglielmo Maria; Škare, Marinko - 2011

In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in Phillips' tradition. For this purpose we apply FMOLS, DOLS, PMGE, MGE, DFE, and VECM methods to a nonstationary heterogeneous dynamic panel including annual data for 119...

Persistent link: https://www.econbiz.de/10010277380

Is the Slope of the Euro Area Phillips Curve Steeper than It Seems? Heterogeneity and Identification

Schuffels, Johannes; Kool, Clemens; Lieb, Lenard; van … - 2022

Heterogeneity in Phillips Curve slopes among members of a monetary union can lead to downward biases to estimates of the union-wide slope in reduced form regressions. The intuition is that in a monetary union with heterogeneous regional Phillips Curve slopes, the central bank, aiming at...

Persistent link: https://www.econbiz.de/10013470361

Search, Screening and Sorting

Cai, Xiaoming; Gautier, Pieter A.; Wolthoff, Ronald P. - 2021

We investigate the effect of search frictions on labor market sorting by constructing a model which is in line with recent evidence that employers collect a pool of applicants before interviewing a subset of them. In this environment, we derive the necessary and sufficient conditions for sorting...

Persistent link: https://www.econbiz.de/10012599245

Cyclical fiscal policy, output volatility, and economic growth

Badinger, Harald - 2008

This paper provides a comprehensive empirical assessment of the relation between the cyclicality of fiscal policy, output volatility, and economic growth, using a large cross-section of 88 countries over the period 1960 to 2004. Identification of the effects of (endogenous) cyclical fiscal...

Persistent link: https://www.econbiz.de/10010264336

Do natural resources depress income per capita?

Arezki, Rabah; van der Ploeg, Frederick - 2010

Most evidence for the resource curse comes from cross-country growth regressions suffers from a bias originating from the high and ever-evolving volatility in commodity prices. This paper addresses these issues by providing new cross-country empirical evidence for the effect of resources in...

Persistent link: https://www.econbiz.de/10010270466