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The Minimum Wage and Its Impact on Unemployment in the Czech Republic
[Minimální mzda a její vliv na nezaměstnanost v ČR]

Author

Listed:
  • Michal Pícl
  • Petr Richter

Abstract

Minimum wage remained unchanged for many years. Politicians and even a large part of the business sector could not agree with previously spoken rule that raising the minimum wage has a negative impact on the overall unemployment rate of the country. The article therefore initially concentrated on the development of the minimum wage in the Czech Republic, its comparison with other European Union member states and tries to find the answer by empirical methods whether the raising of the minimum wage in the Czech Republic has a really economic impact on the unemployment in this country.

Suggested Citation

  • Michal Pícl & Petr Richter, 2014. "The Minimum Wage and Its Impact on Unemployment in the Czech Republic [Minimální mzda a její vliv na nezaměstnanost v ČR]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2014(6), pages 51-65.
    • Handle: RePEc:prg:jnlaop:v:2014:y:2014:i:6:id:458
    DOI: 10.18267/j.aop.458
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    References listed on IDEAS

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    1. Card, David & Krueger, Alan B, 1994. "Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania," American Economic Review, American Economic Association, vol. 84(4), pages 772-793, September.
    2. Mark B. Stewart, 2004. "The employment effects of the national minimum wage," Economic Journal, Royal Economic Society, vol. 114(494), pages 110-116, March.
    3. William Wascher & David Neumark, 2000. "Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania: Comment," American Economic Review, American Economic Association, vol. 90(5), pages 1362-1396, December.
    4. Daniel Aaronson & Eric French, 2007. "Product Market Evidence on the Employment Effects of the Minimum Wage," Journal of Labor Economics, University of Chicago Press, vol. 25(1), pages 167-200.
    5. Michele Campolieti & Tony Fang & Morley Gunderson, 2005. "Minimum wage impacts on youth employment transitions, 1993-1999," Canadian Journal of Economics, Canadian Economics Association, vol. 38(1), pages 81-104, February.
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    Citations

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    Cited by:

    1. Jan Babecky & Kamil Galuscak & Diana Zigraiova, 2015. "Labour Market Adjustment since the Global Financial Crisis: Evidence from a Survey of Czech Firms," Research and Policy Notes 2015/01, Czech National Bank.

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    More about this item

    Keywords

    wage; minimum wage; average wage; unemployment; labor;
    All these keywords.

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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