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The Minimum Wage from a Two-Sided Perspective
Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis - CESifo - 2014
This paper sheds new light on the effects of the minimum wage on employment from a two-sided theoretical perspective, in which firms’ job offer and workers’ job acceptance decisions are disentangled. Minimum wages reduce job offer incentives and increase job acceptance incentives. We show...
Persistent link: https://www.econbiz.de/10010877633
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Strategic Wage Setting and Coordination Frictions with Multiple Applications
Gautier, Pieter A.; Moraga-González, José Luis - CESifo - 2004
where workers apply for just one job exhibits unemployment and absence of wage dispersion; (ii) an equilibrium where workers … apply for two or for more (but not for all) jobs always exhibits wage dispersion and, typically, unemployment; (iii) the … equilibrium wage distribution with a higher vacancy-to-unemployment ratio first-order stochastically dominates the wage …
Persistent link: https://www.econbiz.de/10005094458
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Is a Minimum Wage an Appropriate Instrument for Redistribution?
Gerritsen, Aart; Jacobs, Bas - CESifo - 2014
minimum wage causes more unemployment, but also leads to more skill formation as unemployment is concentrated on low … gains of more skill formation outweigh the social welfare losses of increased unemployment. Using a highly conservative …
Persistent link: https://www.econbiz.de/10010736741
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Minimum Wages, Capital Accumulation and Worker's Incomes
Economides, George; Moutos, Thomas - CESifo - 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/10010779410
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Minimum Wages as a Redistributive Device in the Long Run
Economides, George; Moutos, Thomas - CESifo - 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/10010960638
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Happiness, Economy and Institutions
Frey, Bruno S.; Stutzer, Alois - CESifo - 2000
previously published for other countries are generally supported. Unemployment has a strongly depressing effect on happiness. A …
Persistent link: https://www.econbiz.de/10005181648
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Deserving Poor and the Desirability of Minimum Wage Rules
Blumkin, Tomer; Danziger, Leif - CESifo - 2014
In this paper we provide a novel justification for the use of minimum wage rules to supplement the optimal tax-and-transfer system. We demonstrate that if labor supply decisions are concentrated along the intensive margin and employment is efficiently rationed, a minimum wage rule can be...
Persistent link: https://www.econbiz.de/10010877848
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Spillover Effects of Minimum Wages: Theory and Experimental Evidence
Dittrich, Marcus; Knabe, Andreas; Leipold, Kristina - CESifo - 2011
We study the spillover effects of minimum wages in a laboratory experiment. In a bilateral firm-worker bargaining setting, we find that the introduction of a minimum wage exerts upward pressure on wages even if the minimum wage is too low to be a binding restriction. Furthermore, raising the...
Persistent link: https://www.econbiz.de/10009294100
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National Minimum Wage and Employment of Young Workers in the UK
Fidrmuc, Jan; Tena, J. D. - CESifo - 2013
We analyze the impact of the UK national minimum wage (NMW) on the employment of young workers. The previous literature found little evidence of an adverse impact of the NMW on the UK labor market. We focus on the age-related increases in the NMW at 18 and 22 years of age. Using regression...
Persistent link: https://www.econbiz.de/10010668469
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Signaling and Screening of Workers' motivation
Delfgaauw, Josse; Dur, Robert - CESifo - 2003
This paper develops a model in which workers to a certain extent enjoy working. We examine the implications of workers’ intrinsic motivation for optimal monetary incentive schemes. We show that motivated workers work harder and, for a given level of e.ort, are willing to work for a lower wage....
Persistent link: https://www.econbiz.de/10005765895