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Questions tagged [minimum-wage]

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0
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1answer
21 views

Economics of disparity in wages and in 'financial quality of life'

I am seeking a quantitavely and logically satisfying answer to the question I will outline below. It could be in a form of a book/article reference and ideally have as little ideological bias as ...
2
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0answers
23 views

Why is underpayment so prevalent? (23% of those who are 25 and are entitled to the UK's National Living Wage are underpaid!)?

Context: https://www.theguardian.com/uk-news/2018/nov/27/one-in-four-uk-workers-covered-national-living-wage-underpaid-low-pay-commission Why is it that employers can seemingly get away without ...
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2answers
185 views

How inflationary is progressive taxation?

Compared with, say minimum wage increases, how inflationary is progressive taxation?
-1
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3answers
57 views

What's a product that historically has always had the same value, and probably will in the future?

Money usually has inflation tied to it, but is there a product that has stayed around the same value world wide for a very long time, and probably will for a very long time as well (something like 100 ...
6
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2answers
113 views

Instrumental Variable Paper for Minimum Wage

I am trying to write a paper dealing with minimum wages and employment. I understand there is simultaneity bias between these two variables so I must come up with an instrument. Does anyone have any ...
0
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1answer
57 views

Would an $8 National Minimum Wage Work in the US?

For those who advocate a \$15 minimum wage, would the benefits espoused also come from an \$8 minimum? The reason I ask, is that it’s often said that the minimum wage needs to be updated as it was ...
1
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1answer
36 views

How is it traditionally defined the minimum wage legislation in economics?

How is it traditionally defined the minimum wage legislation in economics? And which countries does not have a minimum wage legislation as defined in these terms?
1
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1answer
89 views

In a context of globalisation and high wage inequality, why should governments help unskilled workers?

With globalisation, wage inequality continues to be a strong issue for many developed nations. What I seek to find out here is, why should we even do anything to help the unskilled workers? From ...
0
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1answer
72 views

How can two countries of roughly the same size, population and GDP have such big differences in minimum wage?

We could answer this question theoretically, or give a real-world example of two such countries. Is there anything more interesting to say than: that's just something decided by the government? Could ...
-1
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1answer
88 views

Do minimum wage laws bring more bad than good? [duplicate]

Let me begin by saying I know nothing about economics. In the past couple of days I've been listening to some lectures by Milton Friedman. They are of non-technical nature. In one of them he makes an ...
-1
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1answer
53 views

Could 15 dollars per hour minimum wage hurt the economy? [duplicate]

I was arguing with a friend the other day about increasing the minimum wage to \$15 per hour, Looking over this article http://fortune.com/2015/04/13/who-makes-15-per-hour/ Mostly the charts you ...
6
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2answers
93 views

Minimum Wage effects on Adjacent Cities

When a city like Seattle raises the minimum wage to 15/hr, how does it affect the labor market in adjacent cities? Are there examples, studies or accepted practices to address: Difficulty staffing ...
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0answers
34 views

How much does one percent of unemployment 'cost'? (Unemployment elasticity)

There is always debate that increasing minimum salary will pour in more money into the budget as those who get minimum salary will spend them immediately. The counter argument is that increasing ...
0
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1answer
81 views

Equilibrium in a labour market and price floors

I'm (very) new to economics, taking it as an introductory subject at the moment. I had a quick question regarding labour markets and minimum wages imposed as a form of government intervention. Is it ...
2
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1answer
147 views

lowering minimum wage by half, effect on population of Puerto Rico

I am reading about a new bill to lower the minimum wage in Puerto Rico from \$7.25 to \$4.25 per hour. This comes at a time, when both the New York and California have chosen to raise their minimum ...
2
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2answers
132 views

Has income inequality ever been solved in societies in the past in terms of what people make to cost of living? [closed]

One thing I've seen many on here whether life style is increasing or poor's wealth is, income inequality in terms of things like food, water, healthcare keep going up, but wages aren't keeping up. ...
4
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3answers
2k views

What kind of policy is minimum wage?

Does it fall under fiscal, monetary, or supply-side, or perhaps some other group? Also (seeing as minimum wage is a form of price control policy), where does the broader "price control policy" fall?
5
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1answer
181 views

Minimum wage vs wage subsdies

Many politicians argue that the minimum wage is essential for providing an sufficient standard of living to all. However, there are many issues binding price floors predicted by standard supply and ...
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0answers
24 views

How can I find state-level data on the unemployment rate of youth for 2014 and 2015?

I have found state-level, monthly unemployment data for 2014/2015, and I have found national monthly youth unemployment data for 2014/2015. However, I need all four together; State-level, monthly ...
4
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3answers
220 views

What keeps minimum wage rates in balance?

I would posit that the minimum wage is determined more on a political than an economic basis. The fact is that there are more wage earners than business owners and, generally speaking, the wage ...
1
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0answers
36 views

Is there a (mostly) objective study regarding minimum wage and job growth?

I think over the course of the past couple years the topic of wealth-inequality and living wages has become increasingly commonplace, and really one of the most debated topics (among us casuals at ...
4
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1answer
107 views

Empirical Data on Demand for Minimum-Wage Jobs in the USA

The idea of a minimum wage and its effects in terms of supply and demand are well-known in mainstream economic theory. I'm constructing an argument regarding the minimum wage, and what I'm curious ...
8
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4answers
1k views

Effect of minimum wage on higher levels of pay

Suppose the minimum wage increases to \$$x$. Is there any evidence on the effect (if any) this is likely to have upon the wage profile of workers higher in the hierarchy, who are already paid more ...
3
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1answer
100 views

Should minimum wage be regulated for developing countries

I live in a developing country, where unemployment is at roughly 25%. There is a large divergence in population whereby skilled workers are typically active within in the manufacturing, finance, ...
5
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2answers
170 views

Stimulus Effect of the Minimum Wage

In the question about the minimum wage found here, I have heard several times that an increase in the minimum wage can, as one of several competing effects, "boost the economy" by increasing the ...
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11answers
6k views

What is the economic purpose of increasing the minimum wage?

It is generally accepted among economists that minimum wage warps the equilibrium point between the supply and demand of labor by instituting a price floor and increases unemployment for unskilled ...