Impact of minimum wage dynamics on unemployment: an empirical approach

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F14%3A00075602" target="_blank" >RIV/00216224:14560/14:00075602 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Impact of minimum wage dynamics on unemployment: an empirical approach
Original language description
This paper deals with the impact of minimum wage dynamics on the unemployment rate. We provide an empirical analysis of unbalanced panel of 24 countries in the period of 1985-2009 based on a broad data set from OECD and Penn World Tables (v8.0) databases. The effect of minimum wage is controlled for influence of business-cycle as well as labor markets? institutional setting and unemployment benefits. Our results indicate that the significance of the effect found depends on the measure used. The real minimum wage growth rate has a positive and significant effect on unemployment rate but the estimates obtained for median-based measures of minimum wage are insignificant. Despite the statistical significance the economic effect found is very limited. Presented results stress the need for a deeper understanding of the distortions caused by the minimum wage.
Czech name
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Czech description
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Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the International Scientific Conference QUANTITATIVE METHODS IN ECONOMICS Multiple Criteria Decision Making XVII
ISBN
9788022538688
ISSN
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e-ISSN
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Number of pages
9
Pages from-to
236-244
Publisher name
Vydavateľstvo EKONÓM
Place of publication
Bratislava
Event location
Bratislava
Event date
Jan 1, 2014
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
000350272000038

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