Minimum wage spillover effects and social welfare in a model of stochastic job matching

IF 1.1 4区经济学 Q3 ECONOMICS

Journal of Public Economic Theory Pub Date : 2023-02-02 DOI:10.1111/jpet.12636

Panagiotis Nanos

引用次数: 0

Abstract

In this paper, I carry out a welfare analysis of the minimum wage in the framework of a Diamond–Mortensen–Pissarides model with stochastic job matching. I explore the role of the minimum wage in a labor market with trading externalities and present the necessary and sufficient condition for a minimum wage hike to be efficiency enhancing. In this context, I characterize minimum wage spillover effects and demonstrate that there is a direct link between the welfare effects and spillover effects of a minimum wage. This theoretical finding suggests that the welfare impact of minimum wage changes can be inferred from the empirical observation of spillover effects on the wage distribution.

Abstract Image

查看原文本刊更多论文

随机工作匹配模型下的最低工资溢出效应与社会福利

本文在具有随机工作匹配的Diamond-Mortensen-Pissarides模型框架下对最低工资进行了福利分析。本文探讨了最低工资在具有交易外部性的劳动力市场中的作用，提出了提高最低工资效率的充分必要条件。在这种背景下，我描述了最低工资的溢出效应，并证明了最低工资的福利效应和溢出效应之间存在直接联系。这一理论发现表明，最低工资变动对福利的影响可以通过对工资分配的溢出效应的实证观察来推断。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Journal of Public Economic Theory ECONOMICS-

自引率

36.40%

发文量

期刊介绍： As the official journal of the Association of Public Economic Theory, Journal of Public Economic Theory (JPET) is dedicated to stimulating research in the rapidly growing field of public economics. Submissions are judged on the basis of their creativity and rigor, and the Journal imposes neither upper nor lower boundary on the complexity of the techniques employed. This journal focuses on such topics as public goods, local public goods, club economies, externalities, taxation, growth, public choice, social and public decision making, voting, market failure, regulation, project evaluation, equity, and political systems.