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It is commonly believed that mandating higher legal minimum wages (LMWs) is needed to help the poor earn a level of income that would allow them healthy and dignified lives. It is also seen as a tool to protect the weak against exploitation. This popular belief motivates and justifies the...
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already fragile labor market, Covid-19 has raised the urgency of action. This paper reviews labor market policy and other … find much scope for improving the design of key labor market institutions-including collective bargaining and employment … protection legislation-and active labor market policies to improve job seekers' prospects. These reforms should come hand …
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monopsonistic characteristics in the labor markets. In this article, I estimate the effects of the minimum wage for the United … States under concentrated labor markets and low-mobility jobs (two variables that measure monopsony), identify heterogeneous ….05. The minimum wage has a positive insignificant effect between 0.04 and 0.29 under full monopsonistic labor markets. The …
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