Christopher Flinn presents an introduction to a search & bargaining model that can be used to assess the welfare effects of minimum wage changes & to determine an 'optimal' minimum wage."The development of the model and the econometric theory underlying its estimation are carefully presented so as to enable readers unfamiliar with the econometrics of point process models and dynamic optimizatio…
This is a comprehensive review of evidence on the effect of minimum wages on employment, skills, wage and income distributions, and longer-term labour market outcomes, and concludes that the minimum wage is not a good policy tool.;Minimum wages exist in more than one hundred countries, both industrialized and developing. The United States passed a federal minimum wage law in 1938 and has increa…
This is a comprehensive review of evidence on the effect of minimum wages on employment, skills, wage and income distributions, and longer-term labour market outcomes, and concludes that the minimum wage is not a good policy tool.Minimum wages exist in more than one hundred countries, both industrialized and developing. The United States passed a federal minimum wage law in 1938 and has increas…