Searching for the Virtues of the European Model

No 1994/046, IMF Working Papers from International Monetary Fund

Abstract: The distributional effects of the minimum wage are analyzed in a model where skilled and unskilled labor enter the production function. It is argued that distributional goals are best achieved by letting the labor market clear and achieving redistribution through taxes and transfers.

Keywords: WP; labor market; unemployment rate; full employment; post tax; minimum wage system; unemployment benefit regime; unemployment duration; unskilled worker; replacement ratio; minimum wage regulation; unemployment benefit system; Minimum wages; Income inequality; Labor markets; Unemployment; Income; Europe (search for similar items in EconPapers)
Pages: 24
Date: 1994-04-01
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Citations: View citations in EconPapers (20)

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