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There has been a long discussion about the employment impact of minimum wages and this discussion has recently been renewed with the introduction of an economy-wide, binding minimum wage in Germany in 2015. In traditional reasoning, based on the allocational approach of modern labour market...
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estimated stimulus is extremely small with GDP and employment effects only one-sixth as large. -- Fiscal Multiplier ; New …
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estimated stimulus is extremely small with GDP and employment effects only onesixth as large. -- Fiscal multiplier ; New …
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multiplier far below one. However, the stimulus ́multiplier strongly depends on the assumed monetary policy response. Based on …
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