Minimum wage setting mechanism and its effects
| Authors | |
|---|---|
| Year of publication | 2014 |
| Type | Article in Proceedings |
| Conference | 32nd International Conference Mathematical Methods in Eocnomics Conference Proceedings |
| MU Faculty or unit | |
| Citation | |
| Web | Conference proceedings |
| Field | Economy |
| Keywords | minimum wage; unemployment; setting mechanism. |
| Description | There is a great number of empirical papers which deals with the effect of minimum wage on unemployment. However those studies usually do not take into account the way of minimum wage setting which may be the source of its heterogeneous effects. Using panel data from OECD Statistical database (period of 1985-2011) we investigate relationship between unemployment and minimum wage in developed countries. In our analysis we focus on different effects of differently set minimum wages. We show that the minimum wage setting mechanism matters with respect to the eect of minimum wage on unemployment. |
| Related projects: |