Why does inequality grow? Can we do something about it?

Coen Teulings 15 June 2014

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Over the past couple of years, the OECD has highlighted the rapidly widening income dispersion in OECD countries (see e.g. OECD 2008, OECD 2014). The recent publication of Thomas Piketty’s Capital in the 21st Century, gave new impetus to this debate.

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Topics:  Poverty and income inequality

Tags:  income inequality, minimum wage, wage-setting

Minimum wages and firm employment: Evidence from China

Yi Huang, Prakash Loungani, Gewei Wang 16 May 2014

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The impact of the minimum wage on employment is a polarising issue in ‘advanced’ – the term commonly used for ‘high-income’ – economies. In the blogosphere, one side is often accused of cruelty (‘they don’t care about the working poor’) and the other of stupidity (‘they don’t realise that labour demand curves slope downwards’). The evidence is mixed. The majority of studies find that minimum wage changes lower employment by a modest amount (Neumark and Wascher 2007) or have little impact (Schmitt 2013).

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Topics:  Labour markets

Tags:  China, minimum wage

Minimum wages: the effects on employment and labour-force turnover

Pierre Brochu, David A Green 22 January 2014

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On 14 January 2014 a group of 75 economists, including seven Nobel laureates, released a letter calling for an increase in the US minimum wage (Woellert 2014). At the same time, George Osborne, the Conservative Chancellor of the Exchequer in the UK, has called for the minimum wage in that country to rise by more than the rate of inflation this year (BBC 2014). In both cases, the key argument for an increase concerns a need for fairness in insuring that the lowest paid workers share in the benefits of post-recession economic growth.

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Topics:  Labour markets

Tags:  employment, Labour Markets, minimum wage

The minimum wage and employment dynamics

Jonathan Meer, Jeremy West 10 September 2013

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The minimum wage remains one of the most controversial policies in both the public discourse and labour economics. The recent proposal by President Obama to raise the federal minimum wage has brought this issue to the fore once again (see Aaronson and French 2013). The reaction was predictable: some argued that this would cause serious unemployment problems, while others pointed to opposing research showing that the minimum wage has little, if any, effect on employment.

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Topics:  Labour markets

Tags:  US, minimum wage

Spending, income, and debt responses to minimum-wage hikes

Daniel Aaronson, Eric French 06 March 2013

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Introduction

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Topics:  Labour markets

Tags:  minimum wage

Minimum wages, maximum wages, and the level of economic discourse in Germany

Michael Burda 28 January 2008

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This article is available in English at Vox’s partner site Telos.

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Topics:  Labour markets

Tags:  Germany, minimum wage, maximum wage

Events