| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3962 |
| DP3962 Adaptive Learning and Monetary Policy Design | |
| Seppo Honkapohja; George W. Evans | |
| 发表日期 | 2003-07-23 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | It is often argued that a mandatory minimum wage is binding only if the wage density displays a spike at it. In this Paper we analyse a model with search frictions and heterogeneous production technologies, in which imposition of a minimum wage affects wages even though, after imposition, the lowest wage in the market exceeds the minimum wage. The model has multiple equilibria as a result of the fact that the reservation wage of the unemployed and the lowest production technology in use affect each other. Imposition of a minimum wage may improve social welfare. |
| 主题 | Labour Economics |
| 关键词 | Wages Productivity Job search Unemployment Imperfect information Equilibrium Labour market policy Matching Congestion |
| URL | https://cepr.org/publications/dp3962 |
| 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/532944 |
| 推荐引用方式 GB/T 7714 | Seppo Honkapohja,George W. Evans. DP3962 Adaptive Learning and Monetary Policy Design. 2003. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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