The Long-Run Impact of Minimum Wages on Total Factor Productivity in the European Union

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F20%3A00124843" target="_blank" >RIV/00216224:14560/20:00124843 - isvavai.cz</a>
Result on the web
<a href="https://www.ekf.vsb.cz/export/sites/ekf/icei/.content/galerie-souboru/ICEI-2020-Proceedings.pdf" target="_blank" >https://www.ekf.vsb.cz/export/sites/ekf/icei/.content/galerie-souboru/ICEI-2020-Proceedings.pdf</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.31490/9788024844565" target="_blank" >10.31490/9788024844565</a>

Result language
angličtina
Original language name
The Long-Run Impact of Minimum Wages on Total Factor Productivity in the European Union
Original language description
Nowadays, the question of “fair minimum wages” is highly discussed among the EU and national authorities. Within the framework of The European Pillar of Social Rights, the EC have already launched consultations to strengthen existing minim wage systems in the member states. But how does the minimum wage effect the long-term economic performance in the members states? The aim of the paper is to determine the long-run impact of national statutory minimum wages on total factor productivity in the European Union. The empirical analysis is conducted on unbalanced panel data set including observations for 23 cross-sections (member states with statutory minimum wages) over the period of 1995-2017, by means of panel cointegrating regression (FMOLS estimation method). In line with endogenous growth theories, variables for human capital and R&D, as key determinants of productivity, are included in the regression. The result supported the long-run relations between total factor productivity and minimum wages and suggested a statistically significant negative impact.
Czech name
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Czech description
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Publication year
2020
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the 5th International Conference on European Integration 2020.
ISBN
9788024844558
ISSN
2571-029X
e-ISSN
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Number of pages
9
Pages from-to
313-321
Publisher name
VŠB - Technical University of Ostrava, Faculty of Economics, Department of European Integration
Place of publication
Ostrava
Event location
Ostrava
Event date
Jan 1, 2020
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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