| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2307 |
| DP2307 From Physical to Human Capital Accumulation: Inequality in the Process of Development | |
| Oded Galor; Omer Moav | |
| 发表日期 | 1999-12-17 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | In this paper we study the endogenous determination of minimum wage employing a political-economic game-theoretic approach. A major objective of the paper is to clarify the crucial role of the strength of the workers' union and of political culture on the determination of the minimum wage. In general, the equilibrium minimum wage differs from that postulated in the literature. In our uncertain environment the optimal minimum wage from the workers' union point of view is lower than the level that maximizes its objective function in a certain environment where there is no opposition to the proposed minimum wage. We establish that a political culture that assigns a positive weight to the public wellbeing can give rise to a wage that equals or exceeds these levels. |
| 主题 | Labour Economics |
| 关键词 | Endogenous determination Minimum wage Political culture Public policy |
| URL | https://cepr.org/publications/dp2307 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531398 |
| 推荐引用方式 GB/T 7714 | Oded Galor,Omer Moav. DP2307 From Physical to Human Capital Accumulation: Inequality in the Process of Development. 1999. |
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