A National Minimum Wage: Stimulus to Economic Efficiency?
RePEc: Research Papers in EconomicsPublished 1 January 1998
Paul Edwards, Mark W. Gilman
Citations6
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Abstract
Debate on the proposed national minimum wage (NMW) has been dominated by its possible effects on employment. Yet these effects are far from automatic for they depend on the reactiond of firms. Two issues may be highlighted. First, estimates of employment effects turn on assumptions as to how much firms' wage bills would rise which in turn depend on estimating the impact of the NMW on pay structures, in particular differentials. Second, there is the possibility that an NMW would have compensating benefits by increasing efficiency.
Keywords
Economics, Econometrics and Finance