In this paper we look at the long run growth implications of labour market distorsions. The analysis is cast in a model where growth is generated by two alternative sources of enhancing labour productivity. The first is that workers before entering the job market may undertake schooling. Secondly, workers may undertake training within firms as unskilled workers and thereby become skilled workers. We investigate how a minimum wage requirement for the unskilled may affect long run growth.
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Paper provided by School of Economics and Management, University of Aarhus in its series Economics Working Papers with number
1995-14.
Find related papers by JEL classification: I20 - Health, Education, and Welfare - - Education - - - General J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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