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Ambiguous effects of minimum wage tool of labour markets regulation – key study of V4 countries

Author

Listed:
  • Emilie Jasova

    (University of Finance and Administration)

  • Bozena Kaderabkova

    (Prague University of Economics and Business)

Abstract

In this paper we analyze the effect of minimum wage change on selected labour market indicators such as duration of employment, hours worked, unemployment by education or profession or long-term unemployment. Our research is based on Eurostat and OECD data for V4 countries. The hypothesis discussed is whether the effect of minimum wage increase is positive or negative and we discuss the issue of economic regulation more generally. The output values of the regressions coefficients of all the V4 countries showed that the effects are more positive than negative. Mapping the overall intensity of effects of the minimum wage on selected indicator of the labour market in the Czech Republic and Hungary indicated a low sensitivity. The effects were very weak in Slovakia and Poland. The results of the analysis complied with the results of the domestic and international research in 13 cases and the results were different in 6 cases. Slightly more often they confirmed more positive effects of the minimum wage on selected indicators of the labour market than negative effects.

Suggested Citation

  • Emilie Jasova & Bozena Kaderabkova, 2021. "Ambiguous effects of minimum wage tool of labour markets regulation – key study of V4 countries," International Journal of Economic Sciences, European Research Center, vol. 10(2), pages 59-86, December.
    • Handle: RePEc:aop:jijoes:v:10:y:2021:i:2:p:59-86
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    Citations

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    Cited by:

    1. KADEŘÁBKOVÁ Božena & BEDNÁŘ Ondřej, 2022. "How Much Can the Monetary Policies of Small Open Economies Neighbouring the Eurozone Be Independent?," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 02, June.
    2. Anirudh Srivastava & Pavel ?ežábek, 2022. "Impact of Digital Payments on the Economic growth of a country- A case of the Czech Republic," International Journal of Economic Sciences, European Research Center, vol. 11(1), pages 85-104, April.
    3. Jiri Rotschedl, 2022. "Study of Intertemporal Discounting According to Income Group, Savings, and Loans," International Journal of Economic Sciences, European Research Center, vol. 11(1), pages 68-84, April.
    4. Jan Cadil & Martin Kopecky & Tomas Jurcik, 2022. "Job grade camouflage: When low gender pay gap does not mean equal pay," International Journal of Economic Sciences, European Research Center, vol. 11(2), pages 28-47, November.
    5. Klára Čermáková & Eduard Hromada, 2022. "Change in the Affordability of Owner-Occupied Housing in the Context of Rising Energy Prices," Energies, MDPI, vol. 15(4), pages 1-18, February.

    More about this item

    Keywords

    minimum wage; rate of unemployment by educational attainment; long-term unemployment; average hours actually worked per week; temporary employees;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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