Artikel
Do minimum wages stimulate productivity and growth?
Proponents of minimum wage increases have argued that such hikes can serve as an engine of economic growth and assist low-skilled individuals during downturns in the business cycle. However, a review of the literature provides little empirical support for these claims. Minimum wage increases redistribute gross domestic product away from lower-skilled industries and toward higher-skilled industries and are largely ineffective in assisting the poor during both peaks and troughs in the business cycle. Minimum wage-induced reductions in employment are found to be larger during economic recessions.
- Sprache
-
Englisch
- Erschienen in
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Journal: IZA World of Labor ; ISSN: 2054-9571 ; Year: 2015 ; Bonn: Institute for the Study of Labor (IZA)
- Klassifikation
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Wirtschaft
Wages, Compensation, and Labor Costs: Public Policy
Wage Level and Structure; Wage Differentials
- Thema
-
minimum wages
business cycle
productivity
poverty
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Sabia, Joseph J.
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for the Study of Labor (IZA)
- (wo)
-
Bonn
- (wann)
-
2015
- DOI
-
doi:10.15185/izawol.221
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Sabia, Joseph J.
- Institute for the Study of Labor (IZA)
Entstanden
- 2015
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