Minimum Wages, Technological Progress and Loss of Skill
AbstractThis paper considers the effect of a productivity shock when the unemployed worker risks a loss of skill. This divides the workers into short-term and long-term unemployment. In this economy, the short-term unemployed and long-term unemployed in the economy search for employment in the most productive sector and in the antiquated sector, respectively. In this framework, the implications of a shock with a minimum wage law is compared to the implications when wages are perfectly flexible. The economic variables considered are short-term and long-term unemployment, wages and wage disparity, and the equilibrium rate of unemployment.
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Bibliographic InfoPaper provided by Centre for Labour Market and Social Research, Danmark- in its series Papers with number 98-03.
Length: 19 pages
Date of creation: 1998
Date of revision:
Contact details of provider:
Postal: Danmark; Centre for Labour Market and Social Research. Science Park Aarhus Wieds Vej 10C, 8000 Aarhus C, Danmark
Phone: +45 8942 2350
Fax: +45 8942 2365
Web page: http://www.cls.dk/
More information through EDIRC
MINIMUM WAGE ; UNEMPLOYMENT;
Other versions of this item:
- Larsen, Birthe, 2001. "Minimum wages, technological progress and loss of skill," European Economic Review, Elsevier, vol. 45(8), pages 1521-1544, August.
- E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
- J40 - Labor and Demographic Economics - - Particular Labor Markets - - - General
- J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
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CIRJE-F-380, CIRJE, Faculty of Economics, University of Tokyo.
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"Stick, Carrot and Skill Acquisition,"
09-2001, Copenhagen Business School, Department of Economics.
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