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The path breaking work of Card and Krueger (1993), showing higher minimum wage can increase employment turned the age-old conventional wisdom on its head. This paper demonstrates that this apparently paradoxical result is perfectly plausible in a competitive general equilibrium production...
Persistent link: https://www.econbiz.de/10012835193
The path breaking work of Card and Krueger (1993), showing higher minimum wage can increase employment turned the age-old conventional wisdom on its head. This paper demonstrates that this apparently paradoxical result is perfectly plausible in a competitive general equilibrium production...
Persistent link: https://www.econbiz.de/10012841731
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in explaining growth gains from trade. Using sectoral level data from WORLD KLEMS Database on industrial productivity and …
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income distribution. With a minimum wage and unemployment availability of credit affects number of varieties. With imperfect … both with unemployment and imperfect credit market , a result in stark contrast with the conventional model with …
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machines will. Such results change drastically when we consider a model with unemployment and finance dictates real outcomes … much more than before. Introducing finance affects trade patterns with unemployment and especially with imperfect credit …
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