On the Empirics of Minimum Wages and Employment: Stylized Facts for The Austrian Industry

Christian Ragacs

Working Papers from Vienna University of Economics and Business Research Group: Growth and Employment in Europe: Sustainability and Competitiveness

Abstract: We ask for the empirical evidence of the textbook theory of minimum wages for the Austrian Industry. The bargaining result of unions and firms is interpreted as a minimum wage, as the bargaining situation in Austria may be described best by a "right to manage-model". Based on the analysis of micro-founded "employment functions" in contrast to the predictions of the textbook analysis no significant negative effect of minimum wages on employment is found.

Keywords: Minimum Wages; Employment; Austrian Industry (search for similar items in EconPapers)
JEL-codes: J23 J31 (search for similar items in EconPapers)
Date: 2003-04
New Economics Papers: this item is included in nep-lab
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