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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 as a Redistributive Device in the Long Run

Economides, George; 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/10010435748

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

The Beveridge Curve and Labour Market Flows - a Reinterpretation

Gottfries, Nils - 2019

unemployment is high. Using monthly panel data for local labour markets in Sweden we find no (or only weak) evidence that high … unemployment makes it easier to fill vacancies. Instead, there are few vacancies when unemployment is high because there is a low … cyclical behaviour of stocks and flows in the labour market also without search frictions. In periods of high unemployment …

Persistent link: https://www.econbiz.de/10012867870

The Beveridge curve and labour market flows - a reinterpretation

Gottfries, Nils; Stadin, Karolina - 2019

Persistent link: https://www.econbiz.de/10012052795

Testing theories of job creation: does supply create its own demand?

Carlsson, Mikael; Eriksson, Stefan; Gottfries, Nils - 2006

Although search-matching theory has come to dominate labor economics in recent years, few attempts have been made to compare the empirical relevance of search-matching theory to efficiency wage and bargaining theories, where employment is determined by labor demand. In this paper we formulate an...

Persistent link: https://www.econbiz.de/10010264032

Deep Dynamics

Gottfries, Nils; Mickelsson, Glenn; Stadin, Karolina - 2021

How do firms adjust their output, inventories, employment and capital in response to demandsideshocks? To understand this, we estimate a reduced-form model using firm-level panel dataand we construct a theoretical model that can match the estimated impulse-response functions.A combination of...

Persistent link: https://www.econbiz.de/10012493019

Deep Dynamics

Gottfries, Nils; Mickelsson, Glenn; Stadin, Karolina - 2021

How do firms adjust their output, inventories, employment and capital in response to demandside shocks? To understand this, we estimate a reduced-form model using firm-level panel data and we construct a theoretical model that can match the estimated impulse-response functions. A combination of...

Persistent link: https://www.econbiz.de/10013246916