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A Brief Analysis on the Dynamic Effects of the Minimum Wage on the Economy in Romania

Author

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  • Mariana Vlad

    (”Ștefan cel Mare” University of Suceava, Romania)

Abstract

In view of the EU Council's requirements regarding the adequacy of legal minimum wages in order to ensure decent working and living conditions for European employees, this paper aims to analyze the evolution of the minimum wage in Romania and its motivational role in Romania. Although the Romanian government has substantially increased the minimum wage in order to help low-income workers, this increase has not exceeded the rapid growing pace of inflation, which has resulted in low living standards and purchasing power for the disadvantaged, as there are no other financial instruments to increase the income of the disadvantaged.

Suggested Citation

  • Mariana Vlad, 2023. "A Brief Analysis on the Dynamic Effects of the Minimum Wage on the Economy in Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1131-1140, August.
    • Handle: RePEc:ovi:oviste:v:xxiii:y:2023:i:1:p:1131-1140
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    More about this item

    Keywords

    remuneration; payroll; personnel; salary; minimum wage;
    All these keywords.

    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M54 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Labor Management

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