Searching for the Virtues of the European Model

ByGilles Saint-Paul

April 1, 1994

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: Income, Income inequality, Labor, Labor markets, Minimum wages, National accounts, Unemployment

Keywords: Europe, full employment, Income, Income inequality, labor market, Labor markets, minimum wage regulation, minimum wage system, Minimum wages, post tax, replacement ratio, Unemployment, unemployment benefit regime, unemployment benefit system, unemployment duration, unemployment rate, unskilled worker, WP

Pages:
24
Volume:
1994
DOI:
https://doi.org/10.5089/9781451973853.001
Issue:
046
Series:
Working Paper No. 1994/046
Stock No:
WPIEA0461994
ISBN:
9781451973853
ISSN:
1018-5941

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Notes

Also published in Staff Papers, Vol. 41, No. 4, December 1994.

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