The Simple Economics of Wage Floors

Research output: Chapter in Book/Report/Conference proceedingChapter

Standard

The Simple Economics of Wage Floors. / Siebert, William.

Flaws and Ceilings: Price Controls and the Damage They Cause. ed. / Christopher Coyne; Rachel Coyne. London : Institute of Economic Affairs, 2015. p. 45-71 4.

Research output: Chapter in Book/Report/Conference proceedingChapter

Harvard

Siebert, W 2015, The Simple Economics of Wage Floors. in C Coyne & R Coyne (eds), Flaws and Ceilings: Price Controls and the Damage They Cause., 4, Institute of Economic Affairs, London, pp. 45-71.

APA

Siebert, W. (2015). The Simple Economics of Wage Floors. In C. Coyne, & R. Coyne (Eds.), Flaws and Ceilings: Price Controls and the Damage They Cause (pp. 45-71). [4] Institute of Economic Affairs.

Vancouver

Siebert W. The Simple Economics of Wage Floors. In Coyne C, Coyne R, editors, Flaws and Ceilings: Price Controls and the Damage They Cause. London: Institute of Economic Affairs. 2015. p. 45-71. 4

Author

Siebert, William. / The Simple Economics of Wage Floors. Flaws and Ceilings: Price Controls and the Damage They Cause. editor / Christopher Coyne ; Rachel Coyne. London : Institute of Economic Affairs, 2015. pp. 45-71

Bibtex

@inbook{67d6bff56df6424fb0d928cca1a411df,
title = "The Simple Economics of Wage Floors",
abstract = "The paper surveys minimum wages setting and finds adverse employment effects broadly in line with conventional economic models. Admittedly, UK studies generally report small effects, but the UK is poorly suited for measurement given confounding changes in welfare benefits and lack of regional variation. Clarity is found in better empirical settings such as Canada, which has sharp minimum wage variations and provincial differences, and also in the OECD country panels. Case studies are also reviewed including South Africa (the minimum wage as a white supremacy weapon), Portugal (where extension of collective agreements are analogous to minimum wages, and reduce employment), and Greece (where the minimum encourages temporary work). Alternative ways of helping the poor via encouragement of stable families, more competitive school systems, and subsidies for low paid work are advanced.",
keywords = "price controls, minimum wages",
author = "William Siebert",
year = "2015",
language = "English",
isbn = "978-0-255-36701-1",
pages = "45--71",
editor = "Christopher Coyne and Rachel Coyne",
booktitle = "Flaws and Ceilings",
publisher = "Institute of Economic Affairs",

}

RIS

TY - CHAP

T1 - The Simple Economics of Wage Floors

AU - Siebert, William

PY - 2015

Y1 - 2015

N2 - The paper surveys minimum wages setting and finds adverse employment effects broadly in line with conventional economic models. Admittedly, UK studies generally report small effects, but the UK is poorly suited for measurement given confounding changes in welfare benefits and lack of regional variation. Clarity is found in better empirical settings such as Canada, which has sharp minimum wage variations and provincial differences, and also in the OECD country panels. Case studies are also reviewed including South Africa (the minimum wage as a white supremacy weapon), Portugal (where extension of collective agreements are analogous to minimum wages, and reduce employment), and Greece (where the minimum encourages temporary work). Alternative ways of helping the poor via encouragement of stable families, more competitive school systems, and subsidies for low paid work are advanced.

AB - The paper surveys minimum wages setting and finds adverse employment effects broadly in line with conventional economic models. Admittedly, UK studies generally report small effects, but the UK is poorly suited for measurement given confounding changes in welfare benefits and lack of regional variation. Clarity is found in better empirical settings such as Canada, which has sharp minimum wage variations and provincial differences, and also in the OECD country panels. Case studies are also reviewed including South Africa (the minimum wage as a white supremacy weapon), Portugal (where extension of collective agreements are analogous to minimum wages, and reduce employment), and Greece (where the minimum encourages temporary work). Alternative ways of helping the poor via encouragement of stable families, more competitive school systems, and subsidies for low paid work are advanced.

KW - price controls

KW - minimum wages

UR - http://www.iea.org.uk/sites/default/files/publications/files/Coyne-Interactive.pdf

M3 - Chapter

SN - 978-0-255-36701-1

SP - 45

EP - 71

BT - Flaws and Ceilings

A2 - Coyne, Christopher

A2 - Coyne, Rachel

PB - Institute of Economic Affairs

CY - London

ER -