Over the last 30 years, researchers have disputed the mixed evidence of the effect of the minimum wage on teenage employment in the United States. Whenever the minimum wage has positive or no effects on employment, they appeal to monopsony models to explain their results. However, very few of...

This is a semi-annual report series on recent economic developments and economic policies in the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, FYR Macedonia, Montenegro, and Serbia). The report looks at the economic performance and outlook for the Western Balkans region and specific...

This paper explores the impact of undocumented as opposed to documented immigration in a model featuring search frictions and non-random hiring that is consistent with novel empirical evidence presented. In this framework, undocumented immigrants' wages are the lowest of all workers due to their...