Minimum Wages and Employment
Static and Dynamic Non-Market-Clearing Equilibrium Models| By: | C. Ragacs |
| Publisher: | Springer Nature |
| Print ISBN: | 9781403934987 |
| eText ISBN: | 9780230596276 |
| Edition: | 0 |
| Copyright: | 2004 |
| Format: | Page Fidelity |
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Christian Ragacs develops contributions to the theory of minimum wages, while taking rationing and spill-over effects on markets other than the labour market into account. Following an introduction into the theory of minimum wages and a discussion of methodological problems, four new theoretical models are developed; two of them comparative static in nature and two models of endogenous growth. The results are contradictory - partly supporting the 'textbook' theory and partly yielding unorthodox results, such as no change in the steady state rates of growth and employment.