Questions tagged [minimum-wage]
The minimum-wage tag has no usage guidance.
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If a poorer country's currency appreciates equal to the dollar would their minimum wage decrease?
Currently $1 = 31.5 Thai baht, and Thailand has a minimum wage of 336 Thai baht/day (42 baht/hr).
If the baht appreciates to the point where it is $1 = 1 baht would that 42 baht/hr minimum wage ...
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$15 dollar minimum wage in the U.S. a good idea for the U.S. economy? [duplicate]
After taking principles of micro and macro economics, both intro-level courses, I got the impression that price controls are generally not a good idea for a market economy. However, I continuously see ...
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1answer
32 views
Advice on method for analyzing the effects of increase in minimum wage
As a hobbyist and generally curious person with a lot of free time at home, I was curious what would be a good method to analyze the effect of an increase in the minimum wage of a country if you only ...
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1answer
49 views
Minimum wages - what is the effect?
Does anyone know a good review on the debate on effects of minimum wages?
I am interested both in academic and non-academic sources. I have searched a lot but there is so much material written on ...
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0answers
26 views
Reason for SMEs in the European Union employing the bulk of people?
Is there any specific reason why SMEs in the European Union employ the vast majority of people in general as well as in certain industries? Are they exempt from certain regulatory burdens such as ...
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23 views
What problems arise when the minimum wage is directly linked to the inflation rate?
For example if the minimum wage is 10, and the inflation for the year is 3%, then next year the minimum wage is 10*1.03 =10.30. the next year, inflation is 5%, so the minimum wage becomes 10.82.
The ...
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11 views
Can minimum or subsidies or tax cuts really work? Or will resultant inflation always counterbalance such initiatives? [duplicate]
I was born at the tail end of Eisenhower era and what is clear is that the dollar does not buy what it used to and this inflation has been more or less the trend for many decades.
I have yet to hear ...
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1answer
55 views
What would happen if layoffs were made illegal?
I was trying to explain to my friend why I don't think raising the minimum wage will benefit workers. He said "what if we just made layoffs illegal through legislation?". Is this even possible? If so, ...
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1answer
25 views
How to determine the cost of a good
Can the cost of any good be determined based on its ratio to a minimum wage?
For instance, if 10 years ago, eggs cost \$2 / dozen and the minimum wage is \$10 / hr (eggs cost 20% of the minimum wage) ...
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1answer
48 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 ...
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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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517 views
How inflationary is progressive taxation?
Compared with, say minimum wage increases, how inflationary is progressive taxation?
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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 ...
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2answers
204 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 ...
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1answer
89 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 ...
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1answer
37 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?
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1answer
132 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 ...
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1answer
82 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 ...
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1answer
129 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 ...
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1answer
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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 ...
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2answers
119 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
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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 ...
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1answer
122 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 ...
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1answer
153 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 ...
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2answers
157 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. ...
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3answers
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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?
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1answer
222 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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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 ...
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3answers
288 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 ...
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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 ...
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1answer
115 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 ...
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4answers
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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 ...
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1answer
128 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, ...
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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
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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 ...
