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Minimum wages, capital accumulation and worker's incomes

Oikonomidēs, Geōrgios; 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/10010358969

Can minimum wages raise workers' incomes in the long run?

Oikonomidēs, Geōrgios; Moutos, Thomas - 2016 - This Draft: May 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/10011481224

Minimum wages as a redistributive device in the long run

Oikonomidēs, Geōrgios; Moutos, Thomas - 2014

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/10010428828

On the interaction between minimum wage adoption and fiscal redistribution : a theoretical and empirical investigation

Oikonomidēs, Geōrgios; 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 public...

Persistent link: https://www.econbiz.de/10012229263

Minimum wages in the presence of in-kind redistribution

Oikonomidēs, Geōrgios; 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/10011669528

Some macroeconomic consequences of basic income and employment subsidies

Moutos, Thomas; Scarth, William M. - 2003

Two macro models one for a closed economy and the other for a small open economy are used to examine the scope for income redistribution and employment creation. In particular, the introduction of both a guaranteed annual income (basic income) and an employment subsidy are examined, and these...

Persistent link: https://www.econbiz.de/10011507707