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Author: Fabian Uyanakumarage Publisher: GRIN Verlag ISBN: 3346135128 Category : Business & Economics Languages : en Pages : 38
Book Description
Seminar paper from the year 2020 in the subject Economics - Other, grade: 1,3, University of Applied Sciences Riedlingen, language: English, abstract: „Minimum wage is the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period, which cannot be reduced by collective agreement or an individual contract”. The government uses the minimum wage as a basic price control, which can force companies to create equal pay for all employees regardless of their origin, gender or belief. Currently, 90 percent of countries have regulations or binding tariff regulations that determine the minimum wage. In countries such as Sweden, Finland, Denmark, Switzerland, Austria and Italy there is no legal minimum wage. There, the government leaves the employer associations and unions to set a minimum wage in collective bargaining. New Zealand was the first country to introduce the minimum wage in 1894, and 192 more followed until 2019. Many of these countries have very complex systems, for example India has more than 1200 different minimum wage rates. Hardly any other labour market policy measure has been discussed as extensively as the introduction of the minimum wage of EUR 8.50 gross per hour on January 1, 2015 in Germany. For the supporters it was a long overdue step to offer low-wage earners a higher wage and thus a better standard of living. However, economists warned in advance that introducing minimum wages would only have negative consequences, especially when it comes to employment. Various studies have predicted that it could result in the loss of thousands of jobs. For example, the Ifo Institute in Munich forecasted a threat to up to 900 thousand jobs. Opponents of the minimum wage also pointed out that low-skilled workers would find it difficult to get into employment and would make little contribution to fighting poverty. The aim of this paper is to analyse how the market in Germany reacted to the introduction of the minimum wage. Also the history and structure of the minimum wage is described and the different economic theories are compared.
Author: Fabian Uyanakumarage Publisher: GRIN Verlag ISBN: 3346135128 Category : Business & Economics Languages : en Pages : 38
Book Description
Seminar paper from the year 2020 in the subject Economics - Other, grade: 1,3, University of Applied Sciences Riedlingen, language: English, abstract: „Minimum wage is the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period, which cannot be reduced by collective agreement or an individual contract”. The government uses the minimum wage as a basic price control, which can force companies to create equal pay for all employees regardless of their origin, gender or belief. Currently, 90 percent of countries have regulations or binding tariff regulations that determine the minimum wage. In countries such as Sweden, Finland, Denmark, Switzerland, Austria and Italy there is no legal minimum wage. There, the government leaves the employer associations and unions to set a minimum wage in collective bargaining. New Zealand was the first country to introduce the minimum wage in 1894, and 192 more followed until 2019. Many of these countries have very complex systems, for example India has more than 1200 different minimum wage rates. Hardly any other labour market policy measure has been discussed as extensively as the introduction of the minimum wage of EUR 8.50 gross per hour on January 1, 2015 in Germany. For the supporters it was a long overdue step to offer low-wage earners a higher wage and thus a better standard of living. However, economists warned in advance that introducing minimum wages would only have negative consequences, especially when it comes to employment. Various studies have predicted that it could result in the loss of thousands of jobs. For example, the Ifo Institute in Munich forecasted a threat to up to 900 thousand jobs. Opponents of the minimum wage also pointed out that low-skilled workers would find it difficult to get into employment and would make little contribution to fighting poverty. The aim of this paper is to analyse how the market in Germany reacted to the introduction of the minimum wage. Also the history and structure of the minimum wage is described and the different economic theories are compared.
Author: Peter Schmidt Publisher: GRIN Verlag ISBN: 3640263618 Category : Political Science Languages : en Pages : 37
Book Description
Master's Thesis from the year 2008 in the subject Business economics - Economic Policy, grade: 1,0 (A), University of Wisconsin-Milwaukee (Department of Economics), course: Labor Economics II, language: English, abstract: One of the most important issues that was in the center of the political debate in Germany in the last few months is the introduction of minimum wages. It was caused by the politically forced imposition of a minimum wage in the sector for postal services which, in the view of many experts, provides a competitive advantage for the major postal service company “Deutsche Post World Net”1 compared to its competitors. Then it happened that the “PIN – Group AG” one of the most important domestic competitors of the “Deutsche Post World Net” was threatened by insolvency as its largest shareholder the publisher “Axel Springer AG” was no longer willing to invest money in the “PIN - Group AG”. Additionally, many newspapers published by Axel Springer AG wrote articles against the imposition of a minimum wage for many weeks and published many interviews with economic experts warning about the negative effects of a minimum wage on the overall German labor market. Furthermore, political considerations, e.g. by the secretary of labor, to introduce a federal minimum wage in Germany even caused the chairmen of the eight leading economic research institutes in Germany to publish a letter in the newspaper “Das Handelsblatt”2 where they advise politicians against the introduction of a federal minimum wage if (large) employment losses should be avoided. On the other hand, a few other researchers, experts and politicians like the “IAB”3 as a specific labor market research institute believe that minimum wages even could create jobs and must not necessarily destroy them. This paper is motivated by this ongoing debate between economists and policymakers in the whole world. That is why in the first part of the paper the major theoretical framework which is used by economists to analyze and empirically assess the impacts of minimum wages on employment should be presented.
Author: Dale Belman Publisher: W.E. Upjohn Institute ISBN: 0880994568 Category : Political Science Languages : en Pages : 489
Book Description
Belman and Wolfson perform a meta-analysis on scores of published studies on the effects of the minimum wage to determine its impacts on employment, wages, poverty, and more.
Author: Fabian Klein Publisher: Springer Nature ISBN: 3658327464 Category : Political Science Languages : en Pages : 236
Book Description
This book examines the role of scientific expertise in minimum wage policy making in Germany, the United Kingdom, and the United States. It finds that scientific research is an important part of the public discourse on minimum wages in all three countries. Newspapers frequently cite scholars and research institutions, providing their readers with a good sense of how scientific research evaluates the effects of minimum wages. How often this happens depends on the context. Most importantly, newspapers from the United States cite researchers more frequently than newspapers from the two European countries. The book also shows that scientific research influences the policy preferences of political actors such as trade unions, political parties, and government agencies. The influence is based on policy-oriented learning. It is strong in Germany and the United Kingdom, and weaker in the United States. In both cases, cross-country differences are found to be related to different styles of using scientific expertise in the three countries.
Author: David Neumark Publisher: MIT Press ISBN: 0262141027 Category : Income distribution Languages : en Pages : 389
Book Description
A comprehensive review of evidence on the effect of minimum wages on employment, skills, wage and income distributions, and longer-term labor market outcomes concludes that the minimum wage is not a good policy tool.
Author: David Card Publisher: Princeton University Press ISBN: 1400880874 Category : Business & Economics Languages : en Pages : 455
Book Description
From David Card, winner of the Nobel Prize in Economics, and Alan Krueger, a provocative challenge to conventional wisdom about the minimum wage David Card and Alan B. Krueger have already made national news with their pathbreaking research on the minimum wage. Here they present a powerful new challenge to the conventional view that higher minimum wages reduce jobs for low-wage workers. In a work that has important implications for public policy as well as for the direction of economic research, the authors put standard economic theory to the test, using data from a series of recent episodes, including the 1992 increase in New Jersey's minimum wage, the 1988 rise in California's minimum wage, and the 1990–91 increases in the federal minimum wage. In each case they present a battery of evidence showing that increases in the minimum wage lead to increases in pay, but no loss in jobs. A distinctive feature of Card and Krueger's research is the use of empirical methods borrowed from the natural sciences, including comparisons between the "treatment" and "control" groups formed when the minimum wage rises for some workers but not for others. In addition, the authors critically reexamine the previous literature on the minimum wage and find that it, too, lacks support for the claim that a higher minimum wage cuts jobs. Finally, the effects of the minimum wage on family earnings, poverty outcomes, and the stock market valuation of low-wage employers are documented. Overall, this book calls into question the standard model of the labor market that has dominated economists' thinking on the minimum wage. In addition, it will shift the terms of the debate on the minimum wage in Washington and in state legislatures throughout the country. With a new preface discussing new data, Myth and Measurement continues to shift the terms of the debate on the minimum wage.
Author: François Eyraud Publisher: International Labour Organization ISBN: 9789221170143 Category : Business & Economics Languages : en Pages : 154
Book Description
This manual draws on the ILO's comprehensive database containing the principal legal provisions and minimum wage fixing mechanisms in 100 countries. The minimum wage has had a long and turbulent history, and this study sheds light on its intricacies by providing a thorough overview of the institutions and practices in different countries. It outlines the main topics for debate concerning the effects of minimum wages on major social and economic variables such as employment, wage inequality, and poverty. The book considers the various procedures countries use for implementation, including the criteria employed to fix the minimum wage, and how they are linked to specific country objectives. It then measures the efficiency of the minimum wage, and focuses on its impact on employment as a major political issue. For the benefit of non-specialists, the validity of econometric models and their results are examined.
Author: Fabian Uyanakumarage
Author: Fabian Uyanakumarage
Author: Kai-Uwe Müller
Author: Peter Schmidt
Author: Kai-Uwe Müller
Author: Dale Belman
Author: Fabian Klein
Author: David Neumark
Author: David Card
Author: Kai-Uwe Müller
Author: François Eyraud