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The Parameters of a National Minimum Hourly Wage

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  • Askenazy, Philippe

    () (Paris School of Economics)

Abstract

Both academic and political debates over the minimum wage generally focus on the minimum wage rate. However, the minimum wage is a complex institution composed of a wide variety of parameters. In this note, I show that nominal rates provide a very crude picture of minimal compensation and of actual employer cost by the comparison of the French, British and US Federal national minimum hourly wages. The extent of their coverage, enforcement procedures, and how the "wage" is defined differ widely between countries. Taking these parameters into account can even alter the comparative hierarchy based on nominal rates alone.

Suggested Citation

  • Askenazy, Philippe, 2014. "The Parameters of a National Minimum Hourly Wage," IZA Policy Papers 85, Institute for the Study of Labor (IZA).
  • Handle: RePEc:iza:izapps:pp85
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    References listed on IDEAS

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    1. François Rycx & Andrea Garnero & Stephan Kampelmann, 2013. "Minimum Wages in Europe :Does the Diversity of Systems Lead to a Diversity of Outcomes," ULB Institutional Repository 2013/245797, ULB -- Universite Libre de Bruxelles.
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    Cited by:

    1. Sachverständigenrat zur Begutachtung der Gesamtwirtschaftlichen Entwicklung (ed.), 2014. "Mehr Vertrauen in Marktprozesse. Jahresgutachten 2014/15," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201415, April.
    2. Alan Manning, 2016. "The Elusive Employment Effect of the Minimum Wage," CEP Discussion Papers dp1428, Centre for Economic Performance, LSE.
    3. Manning, Alan, 2016. "The elusive employment effect of the minimum wage," LSE Research Online Documents on Economics 67646, London School of Economics and Political Science, LSE Library.

    More about this item

    Keywords

    minimum wage; exemptions; deductions; international comparisons;

    JEL classification:

    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • J8 - Labor and Demographic Economics - - Labor Standards

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