Datum
2021-03Autor
Herr, HansjörgSchlagwort
310 Statistik 330 Wirtschaft EinkommensverteilungArbeitsmarktKeynessche TheorieParadigma <Wissenschaftstheorie>MindestlohnMonopsonMetadata
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Working paper
The rational of minimum wages
Zusammenfassung
Leaving labour markets to the market mechanism with flexible wages is the worst thing that can happen as the result would be a permanent destabilisation of the price level and an explosion of inequality—both of which adds to the instabilities of capitalism. Guarantee of minimum wages can play an important role to contain the destabilising potential of labour markets. They can add to the stability of price level development and help establish a type of wage dispersion preferred by society. Minimum wages do not lead to unemployment. Countries with very high wage dispersion can have high unemployment while those with low wage dispersion might ensure full employment. Looking at the distribution effect, minimum wage increases (which compress the wage structure from below) not only lead to redistribution within wage earners, but also can increase wage shares. Minimum wage policy should play an important and active role in macroeconomic management of an economy which in turn is linked with macroeconomic demand management so that the employment rate is maintained high.
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@unpublished{doi:10.17170/kobra-202102053128,
author={Herr, Hansjörg},
title={The rational of minimum wages},
year={2021}
}
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2021-03-18T13:54:53Z 2021-03-18T13:54:53Z 2021-03 doi:10.17170/kobra-202102053128 http://hdl.handle.net/123456789/12651 eng kassel university press Namensnennung - Weitergabe unter gleichen Bedingungen 4.0 International http://creativecommons.org/licenses/by-sa/4.0/ income distribution labour market Keynesian paradigm minimum wages monopsony wage dispersion 310 330 The rational of minimum wages Working paper Leaving labour markets to the market mechanism with flexible wages is the worst thing that can happen as the result would be a permanent destabilisation of the price level and an explosion of inequality—both of which adds to the instabilities of capitalism. Guarantee of minimum wages can play an important role to contain the destabilising potential of labour markets. They can add to the stability of price level development and help establish a type of wage dispersion preferred by society. Minimum wages do not lead to unemployment. Countries with very high wage dispersion can have high unemployment while those with low wage dispersion might ensure full employment. Looking at the distribution effect, minimum wage increases (which compress the wage structure from below) not only lead to redistribution within wage earners, but also can increase wage shares. Minimum wage policy should play an important and active role in macroeconomic management of an economy which in turn is linked with macroeconomic demand management so that the employment rate is maintained high. open access Herr, Hansjörg 29 Seiten ICDD Working Papers ;; No. 35 Berlin School of Economics and Law, Germany Kassel 978-3-7376-0929-6 Einkommensverteilung Arbeitsmarkt Keynessche Theorie Paradigma <Wissenschaftstheorie> Mindestlohn Monopson publishedVersion ICDD Working Papers No. 35 true ICDD Working Papers Sozialwissenschaft Monographie FB 05 / Gesellschaftswissenschaften Softcover DIN A4
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