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Schooling, Training, Growth and Minimum Wages

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Author Info

  • Ravn, Morten O
  • Sorensen, Jan Rose

Abstract

We examine how the long-run growth performance of an economy is affected by a labor market distortion. In our model, growth occurs through skill formation, and skills are generated through schooling and training of unskilled workers. We analyze how a minimum wage legislation affects long-run growth. In general, the effects are ambiguous. The reason is that while a minimum wage discourages training, it also encourages schooling. The net effect then depends on whether training or schooling dominates the long-run increases in labor productivity. Copyright 1999 by The editors of the Scandinavian Journal of Economics.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.

Volume (Year): 101 (1999)
Issue (Month): 3 (September)
Pages: 441-57

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Handle: RePEc:bla:scandj:v:101:y:1999:i:3:p:441-57

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Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442

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Cited by:
  1. Zsofia Barany, 2011. "The minimum wage and inequality - the effects of education and technology," Sciences Po publications info:hdl:2441/eu4vqp9ompq, Sciences Po.
  2. Luciano Fanti & Luca Gori, 2009. "On economic growth and minimum wages," Discussion Papers 2009/78, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
  3. Luciano Fanti & Luca Gori, 2008. "‘Backyard’ technology and regulated wages in a neoclassical OLG growth model," Discussion Papers 2008/74, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
  4. Cardoso, Ana Rute, 2009. "Long-Term Impact of Youth Minimum Wages: Evidence from Two Decades of Individual Longitudinal Data," IZA Discussion Papers 4236, Institute for the Study of Labor (IZA).
  5. Christian Ragacs, 2002. "Warum Mindestlöhne die Beschäftigung nicht reduzieren müssen. Neoklassische Ansätze im Überblick," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 28(1), pages 59-62.
  6. Dessing, Maryke, 2004. "Implications for minimum-wage policies of an S-shaped labor-supply curve," Journal of Economic Behavior & Organization, Elsevier, vol. 53(4), pages 543-568, April.

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