المستودع الأكاديمي جامعة المدينة

Minimum wage effects on labor market outcomes under search with bargaining

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dc.creator Flinn, Christopher J.
dc.date 2003
dc.date.accessioned 2013-10-16T07:09:15Z
dc.date.available 2013-10-16T07:09:15Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/20185
dc.identifier ppn:374930732
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/20185
dc.description Building upon a continuous-time model of search with Nash bargaining in a stationary environment, we analyze the effect of changes in minimum wages on labor market outcomes and welfare. While minimum wage increases invariably lead to employment losses in our model, they may be welfare-improving to labor market participants using any one of a number of welfare criteria. A key determinant of the welfare impact of a minimum wage increase is the Nash bargaining power parameter. We discuss identification of this model using Current Population Survey data on accepted wages and unemployment durations, and demonstrate that key parameters are not identified when the distribution of match values belongs to a location-scale family. By incorporating a limited amount of information from the demand side of the market, we are able to obtain credible and precise estimates of all primitive parameters, including bargaining power. Direct estimates of the welfare impact of the minimum wage increase from $4.25 to $4.75 in 1996 provide limited evidence of a small improvement. Using estimates of the primitive parameters we show that more substantial welfare gains for labor market participants could have been obtained by doubling the minimum wage rate in 1996, though at the cost of a perhaps unacceptably high unemployment rate.
dc.language eng
dc.publisher
dc.relation IZA Discussion paper series 949
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject J38
dc.subject J41
dc.subject C51
dc.subject C34
dc.subject ddc:330
dc.subject minimum wages
dc.subject matching models
dc.subject Nash bargaining
dc.subject Mindestlohn
dc.subject Beschäftigungseffekt
dc.subject Arbeitsplatzsuchmodell
dc.subject Matching
dc.subject Arbeitsnachfrage
dc.subject Verhandlungstheorie
dc.subject Wohlfahrtseffekt
dc.subject Schätzung
dc.subject Theorie
dc.subject Vereinigte Staaten
dc.title Minimum wage effects on labor market outcomes under search with bargaining
dc.type doc-type:workingPaper


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