000128093 001__ 128093
000128093 005__ 20241125101159.0
000128093 0247_ $$2doi$$a10.1016/j.eap.2023.08.009
000128093 0248_ $$2sideral$$a135255
000128093 037__ $$aART-2023-135255
000128093 041__ $$aeng
000128093 100__ $$aMedrano-Adán, Luis
000128093 245__ $$aDo minimum wages deliver what they promise? Effects of minimum wage on employment, output, and income inequality from occupational choice theory
000128093 260__ $$c2023
000128093 5060_ $$aAccess copy available to the general public$$fUnrestricted
000128093 5203_ $$aThis paper addresses the unresolved debate on the effects of minimum wages on output, employment, and income inequality by modeling an occupational choice economy calibrated for a representative OECD economy. The minimum wage sets a minimum skill requirement for employees, which reduces the effective labor supply and raises its price. Consequently, salaries increase, business profits fall, and some entrepreneurs transition to solo self-employment. With a minimum-to-average wage ratio of 0.43 (the OECD countries average in 2020), a 10% increase in the minimum wage reduces output, employment, and inequality among employees by 0.2%, 1.0%, and 2.1%, respectively, and increases total income inequality by 0.57%. If the minimum-to-average wage ratio were 0.55, output, employment, and inequality among employees would decrease by 0.87%, 3.55%, and 5.19%, respectively, and income inequality would rise by 2.09%. In summary, the effects are mainly negative, contrary to what is promised, and quantitatively large for high minimum-to-average wage ratios.
000128093 540__ $$9info:eu-repo/semantics/openAccess$$aby-nc-nd$$uhttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
000128093 590__ $$a7.9$$b2023
000128093 592__ $$a1.597$$b2023
000128093 591__ $$aECONOMICS$$b11 / 600 = 0.018$$c2023$$dQ1$$eT1
000128093 593__ $$aEconomics, Econometrics and Finance (miscellaneous)$$c2023$$dQ1
000128093 593__ $$aEconomics and Econometrics$$c2023$$dQ1
000128093 594__ $$a9.8$$b2023
000128093 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion
000128093 700__ $$0(orcid)0000-0001-8405-1056$$aSalas-Fumás, Vicente$$uUniversidad de Zaragoza
000128093 7102_ $$14012$$2650$$aUniversidad de Zaragoza$$bDpto. Direcc.Organiza.Empresas$$cÁrea Organización de Empresas
000128093 773__ $$g80 (2023), 366-383$$tEconomic Analysis and Policy$$x0313-5926
000128093 8564_ $$s851308$$uhttps://zaguan.unizar.es/record/128093/files/texto_completo.pdf$$yVersión publicada
000128093 8564_ $$s2187980$$uhttps://zaguan.unizar.es/record/128093/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada
000128093 909CO $$ooai:zaguan.unizar.es:128093$$particulos$$pdriver
000128093 951__ $$a2024-11-22-12:10:56
000128093 980__ $$aARTICLE