Publication details

Minimum wage setting mechanism and its effects


MIKULA Štěpán SCHULZ Jaroslav

Year of publication 2014
Type Article in Proceedings
Conference 32nd International Conference Mathematical Methods in Eocnomics Conference Proceedings
MU Faculty or unit

Faculty of Economics and Administration

Web Conference proceedings
Field Economy
Keywords minimum wage; unemployment; setting mechanism.
Description There is a great number of empirical papers which deals with the effect of minimum wage on unemployment. However those studies usually do not take into account the way of minimum wage setting which may be the source of its heterogeneous effects. Using panel data from OECD Statistical database (period of 1985-2011) we investigate relationship between unemployment and minimum wage in developed countries. In our analysis we focus on different effects of differently set minimum wages. We show that the minimum wage setting mechanism matters with respect to the eect of minimum wage on unemployment.
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