Since 2014
Hitting two birds with one stone: A tale on the (not so) secret miracle of minimum wages
Journal of Economic & Financial Studies
View Archive Info| Field | Value | |
| Title |
Hitting two birds with one stone: A tale on the (not so) secret miracle of minimum wages
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| Creator |
Sell, Friedrich Leopold
Öllinger, Michael |
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| Subject |
Economis, Labor Economics
Average and minimum wages; Strategy of unions; Wage dispersion; Wage quota. Policy of unions; minimum wages. |
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| Description |
In this note, we recall that unions traditionally pursue a policy of pushing higher average wages and, at the same time, for a compression of the structure of wages and salaries, which is some sort of equity. Given the precipitous fall of union density in many, if not all, OECD countries, the actual good climate for minimum wage policy comes at no surprise. Despite the fact that unions do dislike the intervention of labor market policy to the detriment of tariff autonomy, we can show that minimum wages are capable of serving both of the above-mentioned goals of unions and also help increase the overall wage quota in the economy. Hence, it can be concluded that the unions have a double dividend when inviting policy makers to pursue a policy of minimum wages: both the average wage rate can be increased and the dispersion of wages be lowered, ceteris paribus.
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| Publisher |
LAR Center Press
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| Contributor |
—
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| Date |
2017-06-04
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://journalofeconomics.org/index.php/site/article/view/289
10.18533/jefs.v5i3.289 |
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| Source |
Journal of Economic & Financial Studies; Vol 5, No 3 (2017): June; 26-30
2379-9471 2379-9463 |
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| Language |
eng
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| Relation |
http://journalofeconomics.org/index.php/site/article/view/289/320
http://journalofeconomics.org/index.php/site/article/downloadSuppFile/289/57 http://journalofeconomics.org/index.php/site/article/downloadSuppFile/289/58 |
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| Rights |
Copyright (c) 2017 Friedrich Leopold Sell, Michael Öllinger
http://creativecommons.org/licenses/by/4.0 |
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