Do minimum wages stimulate productivity and growth
- 최초 등록일
- 2020.03.06
- 최종 저작일
- 2019.09
- 16페이지/
MS 파워포인트
- 가격 5,000원
![할인쿠폰받기](/images/v4/document/ico_det_coupon.gif)
목차
0. Author Joseph J. Sabia
1. Introduction
2. Minimum Wage and Gross Domestic Product
3. Employment effects of minimum wages over the business cycle
4. Pros and Cons
5. Other Evidence of Minimum Wages and Poverty
6. Alternative of Minimum Wages
7. Minimum Wage VS EITC payments
8. EITC
본문내용
2. Minimum Wage and Gross Domestic Product
Minimum wage increases may increase labor costs and output prices, reduce firms’ profits and job training, and cause adverse employment and hours effects, each of which may reduce GDP.
The net effect of higher minimum wages on GDP is an empirical question and depends on how minimum wages affect:
(i) the demand for low-skilled workers;
(ii) low-skilled workers’ wages
(iii) availability of substitutes for goods produced by minimum wage workers;
(iv) workers’ effort; and
(v) job training and educational attainment
two important underlying findings. First, minimum-wage increases cause a redistribution of productivity across industries employing workers of different skill types.
The study finds that minimum wage increases reduce productivity in industries that employ relatively larger shares of low-skilled workers (e.g. manufacturing, retail, restaurant, and wholesale) relative to industries that employ relatively larger shares of high-skilled workers (e.g. finance, insurance, real estate, professional/scientific services).
The results show that a 10% increase in the minimum wage is associated with a 1−2% decline in GDP generated by lower-skilled, as compared to higher-skilled, industries.
This finding is consistent with a redistribution of employment toward higher-skilled industries.
참고 자료
없음