In this paper we study the endogenous determination of minimum wage employing a political-economic game-theoretic approach. A major objective of the paper is to clarify the crucial role of the strength of the workers' union and of political culture on the determination of the minimum wage. In...

In this paper we study the endogenous determination of minimum wage employing a political-economic game-theoretic approach. A major objective of the paper is to clarify the crucial role of the strength of the workers' union and of political culture on the determination of the minimum wage. In...

In this paper we study the endogenous determination of minimum wage employing a political-economic approach. A major objective of the paper is to clarify the crucial role of the strength of the workers' union and if political culture on the determination of the minimum wage. In general, the...

Minimum wage policy is regarded as an essential policy tool for improving the welfare of low-paid workers, reducing working poverty and inequality within the labour market. The Government of India recently undertook reform in the country's wage policy and enacted the Code on Wages in August...

We study a labor market where firm have private information about their ex-ante heterogeneous productivities and search is random. In this environment, a binding minimum wage can be efficiency-enhancing -- we show that setting it using a version of the Vickery-Clarke-Groves mechanism delivers...

What is the economic case for increasing the federal minimum wage?To even posit that question sounds odd. Proponents of a higher minimum wage claim that the policy change could alleviate all sorts of economic and social ills. But it's worth assessing, from first principles, the economic...

Following the approach recently developed for the International Wage Flexibility Project (IWFP), the paper presents new estimates of downward real and nominal wage rigidity for Hungary. Results suggest that nominal rigidity is more prominent in Hungary than real rigidity. When compared to other...

Following the approach recently developed for the International Wage Flexibility Project (IWFP), the paper presents new estimates of downward real and nominal wage rigidity for Hungary. Results suggest that nominal rigidity is more prominent in Hungary than real rigidity. When compared to other...

Following the approach recently developed for the International Wage Flexibility Project (IWFP), the paper presents new estimates of downward real and nominal wage rigidity for Hungary. Results suggest that nominal rigidity is more prominent in Hungary than real rigidity. When compared to other...