A European Minimum Wage Implications For Poverty And Macroeconomic Imbalances
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A European Minimum Wage Implications For Poverty And Macroeconomic Imbalances
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Author : Ms.Enrica Detragiache
language : en
Publisher: International Monetary Fund
Release Date : 2020-05-22
A European Minimum Wage Implications For Poverty And Macroeconomic Imbalances written by Ms.Enrica Detragiache and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-22 with Business & Economics categories.
A hypothetical European Minimum Wage (MW) set at 60 percent of each country’s median wage would reduce in-work poverty but have limited effects on overall poverty, as many poor households do not earn a wage near MW and higher unemployment, higher prices, and a loss of social insurance benefits may erode direct benefits. Turning to competitiveness, since the MW increase to reach the European standard would be larger in euro area countries with excessive external surpluses, the associated real appreciation should help curb existing imbalances. However, a few countries with already weak external positions would experience an undesirable real appreciation.
Macroeconomic Imbalances
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Author : European Commission. Directorate-General for Economic and Financial Affairs
language : en
Publisher:
Release Date : 2012
Macroeconomic Imbalances written by European Commission. Directorate-General for Economic and Financial Affairs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Balance of payments categories.
On 14 February 2012, the European Commission presented its first Alert Mechanism Report (AMR), prepared in accordance with Article 3 of Regulation (EU) No 1176/2011 on the prevention and correction of macroeconomic imbalances. The AMR serves as an initial screening device, helping to identify Member States that warrant further in-depth analysis to determine whether imbalances exist or risk emerging. According to Article 5 of Regulation No. 1176/2011, these country-specific ?in-depth reviews? should examine the nature, origin and severity of macroeconomic developments in the Member State concerned which constitute, or could lead to, imbalances. On the basis of this analysis, the Commission will establish whether it considers that an imbalance exists and what type of policy follow-up it will recommend to the Council. For Slovenia, the AMR noted that two indicators in the scoreboard exceeded their thresholds in 2010 and suggested the need to assess the development and drivers of potential imbalances. The AMR explained that in the years before the crisis, Slovenia enjoyed strong growth and domestic demand conditions, coupled with some losses in price competitiveness and a gradual widening of the current account deficit. It identified signs that overheating occurred, particularly as regards private sector credit growth, construction value added and property prices. The Slovenian economy was hit hard by the global crisis and the AMR noted that this has brought some, perhaps temporary, adjustment in the external balance but this is still at an early stage. Against this background, Section 2 examines the external and internal dimensions of imbalances including developments in competitiveness, private sector indebtedness and in asset markets. This is followed by a closer look at the implications of indebtedness of non-financial corporations for the banking sector in Section 3. Section 4 presents possible policy considerations.
The Eu Directive On Adequate Minimum Wages
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Author : Luca Ratti
language : en
Publisher: Bloomsbury Publishing
Release Date : 2024-03-21
The Eu Directive On Adequate Minimum Wages written by Luca Ratti and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-21 with Law categories.
This book provides an all-encompassing and timely analysis of the EU regulatory framework deriving from the enactment of Directive 2022/2041 on adequate minimum wages. In the first part, the book discusses the function of minimum wage policies in contemporary labour markets and the role of social partners and collective bargaining in governing minimum wage determinants and trends. The second part provides an article-by-article commentary of the Directive, including insights on crucial aspects such as the EU competence to intervene on wages, the concept of minimum wage adequacy, and the measurement and promotion of collective bargaining coverage. The third part assesses the impact of the Directive across the EU, focusing on the main systemic implications of the Directive as well as on the structural changes that Member States will need to implement. With contributions written by scholars and stakeholders from across Europe, the book sheds light on one of labour law's most fundamental objectives – to provide for adequate minimum wages. It is an invaluable resource for researchers, policy makers, trade unionists and employers' representatives.
Causes And Consequences Of Income Inequality
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Author : Ms.Era Dabla-Norris
language : en
Publisher: International Monetary Fund
Release Date : 2015-06-15
Causes And Consequences Of Income Inequality written by Ms.Era Dabla-Norris and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-15 with Business & Economics categories.
This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
Living Wages And The Welfare State
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Author : Wilson, Shaun
language : en
Publisher: Policy Press
Release Date : 2021-05-10
Living Wages And The Welfare State written by Wilson, Shaun and has been published by Policy Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-10 with Political Science categories.
Are living wages an unaffordable and unwieldy aspiration or a key progressive reform? Demands for fair minimum incomes have dominated national debates amid the COVID-19 pandemic. This topical book addresses the rapidly shifting politics of minimum wages in US, the UK, New Zealand, Canada, Ireland and Australia, where workfare has compelled many to find low-income work and where neoliberal thinking about minimum wages has prevailed. Analysing minimum wage policies within a political-economy narrative, this innovative book offers an alternative to the Basic Income narrative and identifies the success of Living Wage campaigns as central to welfare state change.
The Labor Market And Economic Adjustment
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Author : Pierre-Richard Agénor
language : en
Publisher: International Monetary Fund
Release Date : 1995-11-01
The Labor Market And Economic Adjustment written by Pierre-Richard Agénor and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-11-01 with Business & Economics categories.
This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.
The European Social Model In Crisis
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Author : Daniel Vaughan-Whitehead
language : en
Publisher: Edward Elgar Publishing
Release Date : 2015-04-30
The European Social Model In Crisis written by Daniel Vaughan-Whitehead and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-30 with Business & Economics categories.
This is the first book to provide a comprehensive and systematic assessment of the impact of the crisis and austerity policies on all elements of the European Social Model. This book assesses the situation in each individual EU member state on the basi
International Macroeconomics In The Wake Of The Global Financial Crisis
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Author : Laurent Ferrara
language : en
Publisher: Springer
Release Date : 2018-06-13
International Macroeconomics In The Wake Of The Global Financial Crisis written by Laurent Ferrara and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-13 with Business & Economics categories.
This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Europe S Income Wealth Consumption And Inequality
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Author : Georg Fischer
language : en
Publisher: International Policy Exchange
Release Date : 2021
Europe S Income Wealth Consumption And Inequality written by Georg Fischer and has been published by International Policy Exchange this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with Business & Economics categories.
Europe's Income, Wealth, Consumption, and Inequality offers a novel approach to the analysis of social and economic trends, and the resulting book identifies major policy challenges applicable in the EU and beyond. Georg Fischer, Robert Strauss, and their contributors focus on explaining how policy makers and the media focus on national trends to measure progress among the nations in Europe.
Myth And Measurement
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Author : David Card
language : en
Publisher: Princeton University Press
Release Date : 2015-12-22
Myth And Measurement written by David Card and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-22 with Business & Economics categories.
From David Card, winner of the Nobel Prize in Economics, and Alan Krueger, a provocative challenge to conventional wisdom about the minimum wage David Card and Alan B. Krueger have already made national news with their pathbreaking research on the minimum wage. Here they present a powerful new challenge to the conventional view that higher minimum wages reduce jobs for low-wage workers. In a work that has important implications for public policy as well as for the direction of economic research, the authors put standard economic theory to the test, using data from a series of recent episodes, including the 1992 increase in New Jersey's minimum wage, the 1988 rise in California's minimum wage, and the 1990–91 increases in the federal minimum wage. In each case they present a battery of evidence showing that increases in the minimum wage lead to increases in pay, but no loss in jobs. A distinctive feature of Card and Krueger's research is the use of empirical methods borrowed from the natural sciences, including comparisons between the "treatment" and "control" groups formed when the minimum wage rises for some workers but not for others. In addition, the authors critically reexamine the previous literature on the minimum wage and find that it, too, lacks support for the claim that a higher minimum wage cuts jobs. Finally, the effects of the minimum wage on family earnings, poverty outcomes, and the stock market valuation of low-wage employers are documented. Overall, this book calls into question the standard model of the labor market that has dominated economists' thinking on the minimum wage. In addition, it will shift the terms of the debate on the minimum wage in Washington and in state legislatures throughout the country. With a new preface discussing new data, Myth and Measurement continues to shift the terms of the debate on the minimum wage.