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Unwarranted wage changes and the return on capital

Katsimi, Margarita; Kalyvitis, Sarantis; Moutos, Thomas - 2009

Casual empiricism suggests that unwarranted" wage changes, defined as the part of wage growth that is not explained by changes in labour productivity, are negatively associated with the return on capital. The main point of this paper is to show that unwarranted" wage changes have no causal...

Persistent link: https://www.econbiz.de/10010265965

'Unwarranted' Wage Changes and the Return on Capital

Katsimi, Margarita - 2009

Casual empiricism suggests that “unwarranted” wage changes, defined as the part of wage growth that is not explained by changes in labour productivity, are negatively associated with the return on capital. The main point of this paper is to show that “unwarranted” wage changes have no...

Persistent link: https://www.econbiz.de/10013156013

Minimum Wages in the Presence of In-Kind Redistribution

Economides, George - 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/10012951678

A Politico-Economic Analysis of Minimum Wages and Wage Subsidies

Adam, Antonis - 2010

In this paper we construct a political economy model in which minimum wages are determined according to the wishes of the median voter. Using the minimum wage scheme as the status quo, we show that the replacement of minimum wages by wage subsidies guaranteeing the same (pre-tax) level of income...

Persistent link: https://www.econbiz.de/10012760615

Minimum Wages, Capital Accumulation and Worker's Incomes

Economides, George - 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/10013052016

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

Economides, George - 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/10012988396

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

Economides, George - 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 public...

Persistent link: https://www.econbiz.de/10012830996

Minimum Wages as a Redistributive Device in the Long Run

Economides, George; Moutos, Thomas - 2021

This paper analyzes long run outcomes resulting from adopting a binding minimum wage in a neoclassical model with perfectly competitive labour markets and capital accumulation. The model distinguishes between workers of heterogeneous ability and capitalists who do all the saving, and it entails...

Persistent link: https://www.econbiz.de/10013315566