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Minimum wage – labour market rigidity factor

Author

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  • Andreea Claudia ȘERBAN

    (Bucharest University of Economic Studies, Romania)

  • Mirela Ionela ACELEANU

    (Bucharest University of Economic Studies, Romania)

Abstract

Currently setting minimum wages is a common practice that targets economic and social aspects. This paper aims to analyse the evolution of the minimum wage in Romania compared to EU Member States and the effects that it generates on employment, labour productivity, reducing social and wage inequalities etc. Given the current concerns about the importance of labour market flexibility to be able to respond to different shocks, as the economic crisis, we evaluate the minimum wage burden as a factor of rigidity in the labour market in terms of its rise and the ratio between the minimum wage and the average wage and the perverse effects on employment.

Suggested Citation

  • Andreea Claudia ȘERBAN & Mirela Ionela ACELEANU, 2015. "Minimum wage – labour market rigidity factor," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(603), S), pages 171-182, Summer.
    • Handle: RePEc:agr:journl:v:xxii:y:2015:i:2(603):p:171-182
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    References listed on IDEAS

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    2. Tonin, Mirco, 2011. "Minimum wage and tax evasion: Theory and evidence," Journal of Public Economics, Elsevier, vol. 95(11), pages 1635-1651.
    3. Cahuc, Pierre & Malherbet, Franck, 2004. "Unemployment compensation finance and labor market rigidity," Journal of Public Economics, Elsevier, vol. 88(3-4), pages 481-501, March.
    4. A.B. Atkinson & John Hills, 1998. "Exclusion, Employment and Opportunity," CASE Papers 004, Centre for Analysis of Social Exclusion, LSE.
    5. Joseph E. STIGLITZ, 2002. "Employment, social justice and societal well-being," International Labour Review, International Labour Organization, vol. 141(1-2), pages 9-29, March.
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    Cited by:

    1. Pasca Cornelia Serena, 2016. "Labour Market - Concepts, Functions, Features, Patterns," Management Strategies Journal, Constantin Brancoveanu University, vol. 34(4), pages 201-209.

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