A Comment on "Labor Markets, Unemployment, and Minimum Wages: A New View."
Palley (1995) recently built a job-hour model to provide us with a new view regarding the reason for unemployment and the positive employment effect of a minimum wage hike. This paper points out some difficulties with his explanation of his paper's findings and tries to provide an alternative explanation.
Volume (Year): 27 (2001)
Issue (Month): 1 (Winter)
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- Bhaskar, V & To, Ted, 1999.
"Minimum Wages for Ronald McDonald Monopsonies: A Theory of Monopsonistic Competition,"
Royal Economic Society, vol. 109(455), pages 190-203, April.
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American Economic Review,
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3877, National Bureau of Economic Research, Inc.
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- Leslie, Derek, 1984. "The Productivity of Hours in U.S. Manufacturing Industries," The Review of Economics and Statistics, MIT Press, vol. 66(3), pages 486-90, August.
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