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Earnings Inequality and the Minimum Wage: Evidence from Brazil

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  • Christian Moser

    (Columbia University)

  • Niklas Engbom

    (Princeton University)

Abstract

We assess the extent to which a rise in the minimum wage can account for three facts characterizing a large decline in earnings inequality in Brazil from 1996--2012: (i) the decline is bottom-driven yet wide-spread; (ii) lower-tail inequality is negatively correlated with the bindingness of the minimum wage across Brazilian states over time; and (iii) a large share of the decline is due to a compression in the returns to firm and worker characteristics in pay. To this end, we build a general equilibrium search model with heterogeneous firms engaging in monopsonistic competition for heterogeneous workers. The rise in the minimum wage in our model explains 70 percent of the observed decline in the variance of log earnings, while being consistent with the above three facts.

Suggested Citation

  • Christian Moser & Niklas Engbom, 2017. "Earnings Inequality and the Minimum Wage: Evidence from Brazil," 2017 Meeting Papers 1521, Society for Economic Dynamics.
    • Handle: RePEc:red:sed017:1521
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    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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