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Minimum Wage and Labor Market Outcomes

ISBN-10: 0262013231

ISBN-13: 9780262013239

Edition: 2011

Authors: Christopher J. Flinn

List price: $45.00
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Book details

List price: $45.00
Copyright year: 2011
Publisher: MIT Press
Publication date: 2/4/2011
Binding: Hardcover
Pages: 344
Size: 6.00" wide x 9.00" long x 0.75" tall
Weight: 1.232
Language: English

Christopher Flinn is Professor of Economics at New York University and Senior Research Fellow at Collegio Carlo Alberto in Moncalieri, Italy.

Preface
Introduction
Plan of the Book
Theoretical Perspectives on the Minimum Wage
Brief History of the Minimum Wage in the United States
State Minimum Wages
Descriptive Evidence on Minimum Wage Effects
The Data Source
Who Are the Minimum Wage Workers?
Impacts of Minimum Wage Changes on Wages
A Model of Minimum Wage Effects on Labor Market Careers
Characterization of the Labor Market Career
The Stationary Labor Market Environment
The Decision-Theoretic Model
Nash-Bargained Employment Contracts
The Search-Bargaining Model without Minimum Wages
Bargaining with a Minimum Wage Constraint
The Labor Market Participation Decision
Endogeneity of the Rate of Contacts
Labor Market and Welfare Impacts of Minimum Wages
Minimum Wages and Labor Market Status
Minimum Wages and Unemployment
The Impact of Minimum Wage Changes on Wage Distributions
Welfare Measures
General Welfare Criteria
Specific Welfare Measures
Minimum Wage Effects on Labor Market Outcomes: A Selective Survey
Surveys of Empirical Studies of Minimum Wage Effects
Empirical Studies of �Large Impacts� and Methodological Innovations
Pereira (2003)
Bell (1997)
Campolieti et al. (2005)
Machin et al. (2003)
Dinardo et al. (1996)
Alternative Behavioral Frameworks
Meyer and Wise (1983a, b)
Van den Berg (2003)
Eckstein and Wolpin (1990)
Van den Berg and Ridder (1998)
Assessing the Welfare Impacts of Actual Changes in the Minimum Wage
Results Using Unconditional Wage Distributions
Results for Conditional Wage Distributions
Results Using Matched Data
Welfare Impacts of the 1996 and 1997 Statutory Minimum Wage Increases
Tests Utilizing Cross-sectional Wage Distributions
Tests Utilizing Panel Data
Data and Empirical Results
Cross-sectional Wage Distribution Results
Empirical Analysis Using the Matched CPS Sample
Econometric Issues
Identification of Choice-Theoretic Search Models
Estimation of the Bargaining Model
Model Identification
No Minimum Wage
Binding Minimum Wage
Some Additional Identification Devices
Use of Demand Side Information to Estimate �
Estimation of Demand Side Parameters
Model Estimates and Tests
Parameter Estimates Using Profit Information
Estimates of Demand Side Parameters and the Matching Function
Model Fit
Optimal Minimum Wages
On-the-Job Search
Introduction
Model Specifications
The Model with Renegotiation
The Model without Renegotiation
Examples
Endogenous Contact Rates
Specification of the Matching Function with OTJ Search
Labor Market Participation Decisions
Estimation Issues
Estimation Results
Optimal Minimum Wages with OTJ Search
Heterogeneity
Introducing Heterogeneity into the Basic Search Model
Detecting Heterogeneity
Observed Heterogeneity
Unobserved Heterogeneity
An Extended Example
Implications of Heterogeneity for Equilibrium and Labor Market Policies
General Equilibrium and Heterogeneity
Policy Implications
Conclusion
Theory
Limitations of the Modeling Framework
Empirical Findings and Lessons
Appendix: Proofs of Selected Propositions from Chapter 7
Notes
Index