| Description |
1 online resource (xii, 306 pages) : illustrations |
| Contents |
880-01 Descriptive evidence on minimum wage effects -- A model of minimum wage effects on labor market careers -- Labor market and welfare impacts of minimum wages -- Minimum wage effects on labor market outcomes: a selective survey -- Assessing the welfare impacts of actual changes in the minimum wage -- Econometric issues -- Model estimates and tests -- Optimal minimum wages -- On-the-job search -- Heterogeneity |
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880-01/(S Machine generated contents note: 1. Introduction -- 1.1. Plan of the Book -- 1.2. Theoretical Perspectives on the Minimum Wage -- 1.3. Brief History of the Minimum Wage in the United States -- 1.4. State Minimum Wages -- 2. Descriptive Evidence on Minimum Wage Effects -- 2.1. Data Source -- 2.2. Who Are the Minimum Wage Workers-- 2.3. Impacts of Minimum Wage Changes on Wages -- 3. Model of Minimum Wage Effects on Labor Market Careers -- 3.1. Characterization of the Labor Market Career -- 3.2. Stationary Labor Market Environment -- 3.3. Decision-Theoretic Model -- 3.3.1. Nash-Bargained Employment Contracts -- 3.3.2. Search-Bargaining Model without Minimum Wages -- 3.4. Bargaining with a Minimum Wage Constraint -- 3.5. Labor Market Participation Decision -- 3.6. Endogeneity of the Rate of Contacts -- 4. Labor Market and Welfare Impacts of Minimum Wages -- 4.1. Minimum Wages and Labor Market Status -- 4.1.1. Minimum Wages and Unemployment -- 4.1.2. Impact of Minimum Wage Changes on Wage Distributions -- 4.2. Welfare Measures -- 4.2.1. General Welfare Criteria -- 4.2.2. Specific Welfare Measures -- 5. Minimum Wage Effects on Labor Market Outcomes: A Selective Survey -- 5.1. Surveys of Empirical Studies of Minimum Wage Effects -- 5.2. Empirical Studies of "Large Impacts" and Methodological Innovations -- 5.2.2. Pereira (2003) -- 5.2.2. Bell (1997) -- 5.2.3. Campolieti et al. (2005) -- 5.2.4. Machin et al. (2003) -- 5.2.5. Dinardo et al. (1996) -- 5.3. Alternative Behavioral Frameworks -- 5.3.1. Meyer and Wise (1983a, b) -- 5.3.2. Van den Berg (2003) -- 5.3.3. Eckstein and Wolpin (1990) -- 5.3.4. Van den Berg and Ridder (1998) -- 6. Assessing the Welfare Impacts of Actual Changes in the Minimum Wage -- 6.1. Results Using Unconditional Wage Distributions -- 6.2. Results for Conditional Wage Distributions -- 6.3. Results Using Matched Data -- 6.4. Welfare Impacts of the 1996 and 1997 Statutory Minimum Wage Increases -- 6.4.1. Tests Utilizing Cross-sectional Wage Distributions -- 6.4.2. Tests Utilizing Panel Data -- 6.5. Data and Empirical Results -- 6.5.1. Cross-sectional Wage Distribution Results -- 6.5.2. Empirical Analysis Using the Matched CPS Sample -- 7. Econometric Issues -- 7.1. Identification of Choice-Theoretic Search Models -- 7.2. Estimation of the Bargaining Model -- 7.3. Model Identification -- 7.3.1. No Minimum Wage -- 7.3.2. Binding Minimum Wage -- 7.3.3. Some Additional Identification Devices -- 7.3.4. Use of Demand Side Information to Estimate α -- 7.4. Estimation of Demand Side Parameters -- 8. Model Estimates and Tests -- 8.1. Parameter Estimates Using Profit Information -- 8.2. Estimates of Demand Side Parameters and the Matching Function -- 8.3. Model Fit -- 9. Optimal Minimum Wages -- 10. On-the-Job Search -- 10.1. Introduction -- 10.2. Model Specifications -- 10.2.1. Model with Renegotiation -- 10.2.2. Model without Renegotiation -- 10.2.3. Examples -- 10.3. Endogenous Contact Rates -- 10.3.1. Specification of the Matching Function with OTJ Search -- 10.3.2. Labor Market Participation Decisions -- 10.4. Estimation Issues -- 10.5. Estimation Results -- 10.6. Optimal Minimum Wages with OTJ Search -- 11. Heterogeneity -- 11.1. Introducing Heterogeneity into the Basic Search Model -- 11.2. Detecting Heterogeneity -- 11.3. Observed Heterogeneity -- 11.4. Unobserved Heterogeneity -- 11.5. Extended Example -- 11.6. Implications of Heterogeneity for Equilibrium and Labor Market Policies -- 11.6.1. General Equilibrium and Heterogeneity -- 11.6.2. Policy Implications -- 12. Conclusion -- 12.1. Theory -- 12.2. Limitations of the Modeling Framework -- 12.3. Empirical Findings and Lessons |
| Summary |
Christopher Flinn presents an introduction to a search & bargaining model that can be used to assess the welfare effects of minimum wage changes & to determine an 'optimal' minimum wage |
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"The development of the model and the econometric theory underlying its estimation are carefully presented so as to enable readers unfamiliar with the econometrics of point process models and dynamic optimization in continuous time to follow the arguments. Although most of the book focuses on the case where only the unemployed search for jobs in a homogeneous labor market environment, later chapters introduce on-the-job search into the model, and explore its implications for minimum wage policy. The book also contains a chapter describing how individual heterogeneity can be introduced into the search, matching, and bargaining framework."--Provided by publisher |
| Analysis |
ECONOMICS/Labor Studies |
| Bibliography |
Includes bibliographical references (pages 287-291) and index |
| Notes |
English |
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Print version record |
| Subject |
Minimum wage.
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Labor market.
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Employment (Economic theory)
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employing.
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BUSINESS & ECONOMICS -- Labor.
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POLITICAL SCIENCE -- Labor & Industrial Relations.
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BUSINESS & ECONOMICS -- Econometrics.
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Salaire minimum.
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Marché du travail.
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Labor market
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Minimum wage
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Arbeitsmarkt
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Mindestlohn
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Arbeitsmarkt.
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Mindestlohn.
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Lohnsystem.
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Arbeitsmarktpolitik.
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Wohlfahrtseffekt.
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USA.
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| Form |
Electronic book
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| ISBN |
9780262289399 |
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0262289393 |
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0262288761 |
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9780262288767 |
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1283020084 |
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9781283020084 |
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9786613020086 |
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6613020087 |
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