TY - JOUR
T1 - The long-run consequences of minimum wage regulation in a monetary economy
AU - Drabicki, John Z.
AU - Takayama, Akira
PY - 1982
Y1 - 1982
N2 - This paper investigates the long-run implications of minimum wage regulation on the growth process with monetary repercussions. The paper shows, among other results, that if the minimum wage floor (MWF) is sufficiently low, then the qualitative behavior of the dynamic path is similar to the case of full employment in which the steady state is a saddle point, and that if the MWF is sufficiently high, the economy decays all the way toward the origin.
AB - This paper investigates the long-run implications of minimum wage regulation on the growth process with monetary repercussions. The paper shows, among other results, that if the minimum wage floor (MWF) is sufficiently low, then the qualitative behavior of the dynamic path is similar to the case of full employment in which the steady state is a saddle point, and that if the MWF is sufficiently high, the economy decays all the way toward the origin.
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U2 - 10.1016/0164-0704(82)90059-3
DO - 10.1016/0164-0704(82)90059-3
M3 - Article
AN - SCOPUS:49049140038
SN - 0164-0704
VL - 4
SP - 387
EP - 403
JO - Journal of Macroeconomics
JF - Journal of Macroeconomics
IS - 4
ER -