The Effect Of Minimum Wage Legislation On Income Equality
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The Effect Of Minimum Wage Legislation On Income Equality
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Author : J. Huston McCulloch
language : en
Publisher:
Release Date : 1977
The Effect Of Minimum Wage Legislation On Income Equality written by J. Huston McCulloch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Income distribution categories.
Minimum wage legislation is frequently advocated in the belief that itcreates a more nearly equal distribution of income. A one-sector model of general equilibrium is used to analyze a universally applicable minimum wage, and a two-sector model is used to analyze a minimum wage that is only applied to certain industries. In both cases we find that a minimum wage may well lower equality (as computed by the Gini index) if we consider reasonable values for the parameters of these two models. In the absence of unemployment compensation, equality can increase only if the elasticity of substitution in production is quite low. In the one-sector case, however, equality necessarily rises if unemployment compensation is present and sufficiently generous.
Minimum Wages In China
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Author : Shi Li
language : en
Publisher: Springer Nature
Release Date : 2020-05-25
Minimum Wages In China written by Shi Li and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-25 with Business & Economics categories.
This book considers the positive and negative impacts of the minimum wage policy in China. Since China enacted its first minimum wage law in 1994, the magnitude and frequency of changes in the minimum wage have been substantial, both over time and across jurisdictions. The results from China’s experience show that rapidly increasing minimum wages have helped increase average wages and reduce the gender wage gap, income inequality, and poverty. However, the fast-rising minimum wage has also resulted in the loss of employment for young adults, women, low-skilled workers, and migrant workers. Additionally, higher minimum wages have a negative impact on firm profitability and adverse effects on firm’s human capital investment. In summary, the Chinese minimum wage policy has shown both positive and negative impacts on the affected workers. Through unpacking these findings, the book highlights the importance of rigorous research to inform evidence-based policymaking and provides lessons for other transitional and developing economies.
Raising Lower Level Wages
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Author : Tomas Hellebrandt
language : en
Publisher: Peterson Institute for International Economics
Release Date : 2015-04-06
Raising Lower Level Wages written by Tomas Hellebrandt and has been published by Peterson Institute for International Economics this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-06 with Political Science categories.
As the United States emerges from the Great Recession, concern is rising nationally over the issues of income inequality, stagnation of workers' wages, and especially the struggles of lower-skilled workers at the -bottom end of the wage scale. While Washington deliberates legislation raising the minimum wage, a number of major American employers—for example, Aetna and Walmart—have begun to voluntarily raise the pay of their own lowest-paid employees. In this collection of essays, economists from the Peterson Institute for International Economics analyze the potential benefits and costs of widespread wage increases, if adopted by a range of US private employers. They make this assessment for the workers, the companies, and for the US economy as a whole, including such an initiative's effects on national competitiveness. These economists conclude that raising the pay of many of the lowest-paid US private-sector workers would not only reduce income inequality but also boost overall productivity growth, with likely minimal effect on employment in the current financial context. "It is possible to profit from paying your employees well…and increasing lower-paid workers' wages is the way forward for the United States," argues Adam S. Posen in his lead essay (reprinted from theFinancial Times). Justin Wolfers and Jan Zilinsky argue that higher wages can encourage low-paid workers to be more productive and loyal to their employers and coworkers, reducing costly job turnover and the need for supervision and training of new workers. Tomas Hellebrandt estimates that if all large private sector corporations in the United States outside of sectors that intensively use low-skilled labor increased wages of their low-paid workers to $16 per hour, the pay of 6.2 percent of the $110 million private-sector workers in the United States would increase on average by 38.6 percent. The direct cost to employers would be $51 billion, only around 0.3 percent of GDP. Jacob Kirkegaard and Tyler Moran explore the experience of employers in other advanced countries, with its implications for international competitiveness, and Michael Jarand assesses the impact of a wage increase on the near-term development of the US macroeconomy. Data disclosure: The data underlying the figures in this analysis are available for download in links listed below.
Pay Equity Minimum Wage And Equality At Work
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Author : Jill Rubery
language : en
Publisher:
Release Date : 2003
Pay Equity Minimum Wage And Equality At Work written by Jill Rubery and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Minimum wage categories.
Inequality In The Developing World
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Author : Carlos Gradín
language : en
Publisher: Oxford University Press
Release Date : 2021
Inequality In The Developing World written by Carlos Gradín and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with Business & Economics categories.
Inequality has emerged as a key development challenge. It holds implications for economic growth and redistribution and translates into power asymmetries that can endanger human rights, create conflict, and embed social exclusion and chronic poverty. For these reasons, it underpins intense public and academic debates and has become a dominant policy concern within many countries and in all multilateral agencies. It is at the core of the 17 goals of the UN 2030 Agenda for Sustainable Development. This book contributes to this important discussion by presenting assessments of the measurement and analysis of global inequality by leading inequality scholars, aligning these to comprehensive reviews of inequality trends in five of the world's largest developing countries - Brazil, China, India, Mexico, and South Africa.
The Fundamentals Of Minimum Wage Fixing
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Author : François Eyraud
language : en
Publisher: International Labour Organization
Release Date : 2005
The Fundamentals Of Minimum Wage Fixing written by François Eyraud and has been published by International Labour Organization this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
This manual draws on the ILO's comprehensive database containing the principal legal provisions and minimum wage fixing mechanisms in 100 countries. The minimum wage has had a long and turbulent history, and this study sheds light on its intricacies by providing a thorough overview of the institutions and practices in different countries. It outlines the main topics for debate concerning the effects of minimum wages on major social and economic variables such as employment, wage inequality, and poverty. The book considers the various procedures countries use for implementation, including the criteria employed to fix the minimum wage, and how they are linked to specific country objectives. It then measures the efficiency of the minimum wage, and focuses on its impact on employment as a major political issue. For the benefit of non-specialists, the validity of econometric models and their results are examined.
The Contribution Of The Minimum Wage To U S Wage Inequality Over Three Decades
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Author : David H. Autor
language : en
Publisher: DIANE Publishing
Release Date : 2010
The Contribution Of The Minimum Wage To U S Wage Inequality Over Three Decades written by David H. Autor and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Income distribution categories.
We reassess the effect of state and federal minimum wages on U.S. earnings inequality using two additional decades of data and far greater variation in minimum wages than was available to earlier studies. We argue that prior literature suffers from two sources of bias and propose an IV strategy to address both. We find that the minimum wage reduces inequality in the lower tail of the wage distribution (the 50/10 wage ratio), but the impacts are typically less than half as large as those reported elsewhere and are almost negligible for males. Nevertheless, the estimated effects extend to wage percentiles where the minimum is nominally non-binding, implying spillovers. However, we show that spillovers and measurement error (absent spillovers) have similar implications for the effect of the minimum on the shape of the lower tail of the measured wage distribution. With available precision, we cannot reject the hypothesis that estimated spillovers to non-binding percentiles are due to reporting artifacts. Accepting this null, the implied effect of the minimum wage on the actual wage distribution is smaller than the effect of the minimum wage on the measured wage distribution.
Income Inequality Around The World
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Author : Lorenzo Cappellari
language : en
Publisher: Emerald Group Publishing
Release Date : 2016-09-05
Income Inequality Around The World written by Lorenzo Cappellari and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-05 with Business & Economics categories.
Research in Labor Economics volume 44 contains new and innovative research on the causes and consequences of inequality and well-being of the workforce.
Restoring The Middle Class Through Wage Policy
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Author : Oren M. Levin-Waldman
language : en
Publisher: Springer
Release Date : 2018-03-09
Restoring The Middle Class Through Wage Policy written by Oren M. Levin-Waldman and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-09 with Political Science categories.
This book delivers a fresh and fascinating perspective on the issue of the minimum wage. While most discussions of the minimum wage place it at the center of a debate between those who oppose such a policy and argue it leads to greater unemployment, and those who favor it and argue it improves the economic well-being of low-income workers, Levin-Waldman makes the case for the minimum wage as a way to improve the well-being of middle-income workers, strengthen the US economy, reduce income inequality, and enhance democracy. Making a timely and original contribution to the defining issues of our time—the state of the middle class, the problem of inequality, and the crisis of democratic governance—Restoring the Middle Class through Wage Policy will be of interest to students and researchers considering the impact of such approaches across the fields of public policy, economics, and political science.
Minimum Wages
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Author : E. G. West
language : en
Publisher: Economic Council of Canada and the Institute for Research on Public Policy
Release Date : 1980
Minimum Wages written by E. G. West and has been published by Economic Council of Canada and the Institute for Research on Public Policy this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Business & Economics categories.
Monograph on minimum wages, with special reference to Canada - covers trends since 1965 concerning local level wage structure and wage determination, and deals with economic theory issues regarding employment, unemployment, income distribution and prices, effectiveness as an anti-poverty and income redistribution tool, and its preference to negative income tax. Bibliography pp. 111 to 119 and statistical tables.