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Ebook The Minimum Wage and Labor Market Outcomes (MIT Press)

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Book Details :
Published on: 2011-02-04
Released on: 2011-02-04
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In The Minimum Wage and Labor Market Outcomes, Christopher Flinn argues that in assessing the effects of the minimum wage (in the United States and elsewhere), a behavioral framework is invaluable for guiding empirical work and the interpretation of results. Flinn develops a job search and wage bargaining model that is capable of generating labor market outcomes consistent with observed wage and unemployment duration distributions, and also can account for observed changes in employment rates and wages after a minimum wage change. Flinn uses previous studies from the minimum wage literature to demonstrate how his model can be used to rationalize and synthesize the diverse results found in widely varying institutional contexts. He also shows how observed wage distributions from before and after a minimum wage change can be used to determine if the change was welfare-improving. More ambitiously, and perhaps controversially, Flinn proposes the construction and formal estimation of the model using commonly available data; model estimates then enable the researcher to determine directly the welfare effects of observed minimum wage changes. This model can be used to conduct counterfactual policy experiments--even to determine "optimal" minimum wages under a variety of welfare metrics. 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 optimization in continuous time to follow the arguments. Although most of the book focuses on the case where only the unemployed search for jobs in a homogeneous labor market environment, later chapters introduce on-the-job search into the model, and explore its implications for minimum wage policy. The book also contains a chapter describing how individual heterogeneity can be introduced into the search, matching, and bargaining framework. Efficiency wage - Wikipedia In labor economics the efficiency wage hypothesis argues that wages at least in some markets form in a way that is not market-clearing. Specifically it points to ... Economic Policy Institute Minimum Wage Trends There is a growing view among economists that the minimum wage offers substantial benefits to low-wage workers without negative effect. Although there are still ... Archives - Philly.com Archives and past articles from the Philadelphia Inquirer Philadelphia Daily News and Philly.com. International News World News - ABC News Sections; Top Stories; Video; Election; U.S. World; Entertainment; Health; Tech; Lifestyle; Money; Investigative; Sports; Good News; Weather; Photos; Shows. Shows ... Who Rules America: The Rise and Fall of Labor Unions in ... 1. In the Beginning: The 1800s. The early forms of labor organization in the United States were largely mutual aid societies or craft guilds that restricted entry ... Minimum wage - Wikipedia Modern minimum wage laws trace their origin to the Ordinance of Labourers (1349) which was a decree by King Edward III that set a maximum wage for laborers in ... Pento Portfolio Strategies LLC Pentonomics & Press Trumponomics Won't Trump the Bond Bust January 4th 2017. Despite the millions of dollars Wall Street plowed into the Clinton campaign in vain the financial industry ... Thomas Leonard on Race Eugenics and Illiberal Reformers ... Russ Roberts: Today we are talking about his recent book Illiberal Reformers: Race Eugenics and American Economics in the Progressive Era. Tim welcome to EconTalk ... Is the World Ready for a Guaranteed Basic Income ... Our latest Freakonomics Radio episode is called Is the World Ready for a Guaranteed Basic Income? (You can subscribe to the podcast at iTunes or elsewhere get ... Today's Stock Market News and Analysis - Nasdaq.com Get the latest news and analysis in the stock market today including national and world stock market news business news financial news and more.
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