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Reconciling Facts with Fiction, or: A Theoretical Speculation of why the Minimum Wage has no Discernible Effect on Employment

Arne Heise ()

MPRA Paper from University Library of Munich, Germany

Abstract: There has long been a discussion about the employment impact of minimum wages and this discussion has recently been renewed with the introduction of an economy-wide, binding minimum wage in Germany in 2015. In traditional reasoning, based on the allocation-based approach of modern labour market economics, it has been suggested that the impact is clearly negative on the assumption of a competitive labour market and clearly positive on the assumption of a monopsony-based labour market.

Keywords: Minimum Wage; post-Keynesianism; Labour Market Theory (search for similar items in EconPapers)
JEL-codes: B5 J31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hme and nep-pke
Date: 2018-10-01
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Published in E-Journal of International and Comparative Labour Studies 3.7(2018): pp. 1-23

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