The Impact of Minimum Wage on the Evolution of Earnings in Romania

Mihaela-Eugenia Vasilache and Georgiana Panaite
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Mihaela-Eugenia Vasilache: School of Advanced Studies of the Romanian Academy
Georgiana Panaite: Bucharest University of Economic Studies

Eco-Economics Review, 2016, vol. 2, issue 1, 60-77

Abstract: Existence and nature of the relationship between the minimum gross guaranteed wage, average gross salary earning and economic growth are subjects which are reflected in the attention of economists for a long time, generating over time different theories and models. In the paper, we addressed the issue of the minimum wage from theoretical perspective and we analysed the causal linkages between the dynamics of the minimum gross guaranteed wage, the average gross salary earning and the economic growth. As a methodological approach, we used the multifactorial regression, the Toda-Yamamoto causality test, impulse analysis and variance decomposition in VAR models.

Keywords: minimum gross guaranteed wage; average gross salary earning; Granger causality; VAR models (search for similar items in EconPapers)
JEL-codes: C52 J31 (search for similar items in EconPapers)
Date: 2016
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