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The Optimal Minimum Wage for Poverty Minimization
Abstract
The effects of a minimum wage on employment and on poverty have been studied in the literature. This paper characterizes the poverty minimizing minimum wage, and shows how it depends on productivity, inequality and the degree of labor market competitiveness.
Description
WP 2008-21 November 2008 JEL Classification Codes: D6; I32; J38; J64
Date Issued
2008-11-01Publisher
Charles H. Dyson School of Applied Economics and Management, Cornell University
Subject
inequality; labor productivity; market competitiveness; minimum wage; poverty
Type
article