Journal Article
The minimum wage and the labor market
Abstract: New models of employment show that there are some cases in which a minimum wage can have positive effects on employment and social welfare. The effects depend ultimately on the prevailing market wage and the frictions in the market. Evidence to date does not support the view that raising the minimum wage will lead to positive employment effects.
Keywords: Labor market; Minimum wage;
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https://doi.org/10.26509/frbc-ec-20070501
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2007
Issue: May
Order Number: 1