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Minimum Wages and Employment: Static and Dynamic Non-Market-Clearing Equilibrium Models

Minimum Wages and Employment: Static and Dynamic Non-Market-Clearing Equilibrium Models

Paperback

EconomicsSocial Movements

ISBN10: 1349517569
ISBN13: 9781349517565
Publisher: Springer Nature
Published: Jun 8 2004
Pages: 191
Weight: 0.53
Height: 0.43 Width: 5.50 Depth: 8.50
Language: English
Christian Ragacs develops contributions to the theory of minimum wages, while taking rationing and spill-over effects on markets other than the labour market into account. Following an introduction into the theory of minimum wages and a discussion of methodological problems, four new theoretical models are developed; two of them comparative static in nature and two models of endogenous growth. The results are contradictory - partly supporting the 'textbook' theory and partly yielding unorthodox results, such as no change in the steady state rates of growth and employment.

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