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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

Short-time work compensations and employment

Cahuc, Pierre - In: IZA World of Labor (2014)

Government schemes that compensate workers for the loss of income while they are on short hours (known as short-time work compensation schemes) make it easier for employers to temporarily reduce hours worked so that labor is better matched to output requirements. Because the employers do not lay...

Persistent link: https://www.econbiz.de/10011404834

Short-time work compensation schemes and employment

Cahuc, Pierre - In: IZA World of Labor (2019)

Persistent link: https://www.econbiz.de/10012120538

Short-time work compensations and employment

Cahuc, Pierre - In: IZA World of Labor (2014) May, pp. 1-10

Persistent link: https://www.econbiz.de/10010884429

The subminimum wage reform in Greece and the labour-labour substitution hypothesis

Kakoulidou, Theano; Konstantinou, Panagiotis; Moutos, Thomas - 2018

The paper examines the effects of the age-differentiated decreases in the minimum wage which Greece implemented in 2012, and which involved the introduction of a subminimum wage as a result of the reduction of the minimum wage by 22% for workers aged 25 and above, and by 32% for those aged less...

Persistent link: https://www.econbiz.de/10011921979

"Unwarranted" wage changes and the return on capital

Katsimē, Margarita; Kalyvitēs, Sarantēs; Moutos, Thomas - 2009

Casual empiricism suggests that unwarrantedʺ 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 unwarrantedʺ wage changes have no causal...

Persistent link: https://www.econbiz.de/10003887514