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Minimum Wages, Technological Progress and Loss of Skill

  • Larsen, B.

This 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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Paper provided by Centre for Labour Market and Social Research, Danmark- in its series Papers with number 98-03.

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Length: 19 pages
Date of creation: 1998
Date of revision:
Handle: RePEc:fth:clmsre:98-03
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
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  1. Oliver Jean Blanchard & Peter Diamond, 1989. "The Beveridge Curve," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 20(1), pages 1-76.
  2. Costas Meghir & E. Whitehouse, 1995. "Labour market transitions and retirement of men in the UK," IFS Working Papers W95/10, Institute for Fiscal Studies.
  3. Rosholm, M., 1997. "The Risk of marginalization in the Labour Market: Application of the Three State Dependent Competing Risks Duration Model," Papers 97-14, Centre for Labour Market and Social Research, Danmark-.
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