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How Do We Know That Real Wages Are Too High?

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Manning, Alan

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Abstract

It is a common belief that the existence of involuntary unemployment implies that wages are too high and that wage moderation should be encouraged as a way to keep unemployment down. This paper argues for a reconsideration of this view by showing that it is possible for a binding minimum wage to reduce unemployment or increase employment even if there is involuntary unemployment. Copyright 1995, the President and Fellows of Harvard College and the Massachusetts Institute of Technology.

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Publisher Info
Article provided by MIT Press in its journal Quarterly Journal of Economics.

Volume (Year): 110 (1995)
Issue (Month): 4 (November)
Pages: 1111-25
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Handle: RePEc:tpr:qjecon:v:110:y:1995:i:4:p:1111-25

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  1. Dolado, Juan J. & Felgueroso, Florentino & Jimeno, Juan F., 2000. "The Role of the Minimum Wage in the Welfare State: An Appraisal," IZA Discussion Papers 152, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  2. Isabelle Méjean & Lise Patureau, 2008. "Location decisions and Minimum Wages," THEMA Working Papers 2008-06, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise. [Downloadable!]
    Other versions:
  3. Daniel Aaronson & Eric French & James MacDonald, 2004. "The minimum wage and restaurant prices," Working Paper Series WP-04-21, Federal Reserve Bank of Chicago. [Downloadable!]
  4. Pierre Cahuc & Guy Laroque, 2007. "Optimal Taxation and Monopsonistic Labor Market: Does Monopsony Justify the Minimum Wage?," IZA Discussion Papers 2955, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  5. Julie Beugnot, 2008. "The effects of a minimum wage increase in a model with multiple unemployment equilibria," Working Papers 08-16, LAMETA, Universtiy of Montpellier, revised Oct 2008. [Downloadable!]
  6. V. Bhaskar & Ted To, 1996. "Minimum Wages for Ronald McDonald Monopsonies: A Theory of Monopsonistic Competition," Labor and Demography 9603001, EconWPA, revised 21 May 1996. [Downloadable!]
    Other versions:
  7. Kosali Ilayperuma Simon & Robert Kaestner, 2003. "Do Minimum Wages Affect Non-wage Job Attributes? Evidence on Fringe Benefits and Working Conditions," NBER Working Papers 9688, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  8. Chung-cheng Lin, 2001. "A Comment on "Labor Markets, Unemployment, and Minimum Wages: A New View."," Eastern Economic Journal, Eastern Economic Association, vol. 27(1), pages 71-82, Winter. [Downloadable!]
  9. Lawrence F. Katz, 1996. "Wage Subsidies for the Disadvantaged," NBER Working Papers 5679, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  10. Frank Walsh, 2000. "Monopsony Power with Variable Effort," Working Papers 200023, School Of Economics, University College Dublin. [Downloadable!]
  11. Erling Barth & Claudio Lucifora, 2006. "Wage Dispersion, Markets and Institutions: The Effects of the Boom in Education on the Wage Structure," IZA Discussion Papers 2181, Institute for the Study of Labor (IZA). [Downloadable!]
  12. Shilov, Andrey & Tourovsky, Boris, 2008. "The minimum wage in the dominant firm model," IAB Discussion Paper 200823, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany]. [Downloadable!]
  13. Flinn, Christopher J., 2003. "Minimum Wage Effects on Labor Market Outcomes under Search with Bargaining," IZA Discussion Papers 949, Institute for the Study of Labor (IZA). [Downloadable!]
  14. Catherine Armington & Zoltan Acs, 2000. "Differences in Job Growth and Persistence in Services and Manufacturing," Working Papers 00-04, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
  15. Nicolas Bauduin & Joël Hellier, 2006. "Skill Dynamics, Inequality and Social Policies," Working Papers 34, ECINEQ, Society for the Study of Economic Inequality. [Downloadable!]
  16. Kamila Fialová & Ondøej Schneider, 2008. "Labour Market Institutions and their Effect on Labour Market Performance in the New EU Member Countries," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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  17. Armin Falk & Ernst Fehr & Christian Zehnder, 2005. "The Behavioral Effects of Minimum Wages," IZA Discussion Papers 1625, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  18. Jakob B. Madsen, Richard Damania, 2001. "Labour Demand and Wage-induced Innovations: evidence from the OECD countries," International Review of Applied Economics, Taylor and Francis Journals, vol. 15(3), pages 323-334, July. [Downloadable!] (restricted)
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