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Searching for the Virtues of the European Model

Author

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  • Gilles Saint-Paul

Abstract

The distributional effects of the minimum wage are analyzed in a model where skilled and unskilled labor enter the production function. It is argued that distributional goals are best achieved by letting the labor market clear and achieving redistribution through taxes and transfers.

Suggested Citation

  • Gilles Saint-Paul, 1994. "Searching for the Virtues of the European Model," IMF Working Papers 1994/046, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1994/046
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    Cited by:

    1. Gindling, T. H. & Terrell, Katherine, 2007. "Minimum Wages and the Welfare of Workers in Honduras," IZA Discussion Papers 2892, Institute of Labor Economics (IZA).
    2. Gindling, T.H. & Terrell, Katherine, 2005. "The effect of minimum wages on actual wages in formal and informal sectors in Costa Rica," World Development, Elsevier, vol. 33(11), pages 1905-1921, November.
    3. Saint-Paul, Gilles, 2021. "Pareto-improving structural reforms," Journal of Economic Theory, Elsevier, vol. 194(C).
    4. Gersbach, Hans & Schniewind, Achim, 2008. "Imperfect competition, general equilibrium and unemployment," Journal of Economic Dynamics and Control, Elsevier, vol. 32(5), pages 1381-1398, May.
    5. Saint-Paul, Gilles, 1995. "Some political aspects of unemployment," European Economic Review, Elsevier, vol. 39(3-4), pages 575-582, April.
    6. Fuest, Clemens & Thum, Marcel, 2001. "Immigration and skill formation in unionised labour markets," European Journal of Political Economy, Elsevier, vol. 17(3), pages 557-573, September.
    7. Gersbach, Hans & Schniewind, Achim, 2001. "Awareness of General Equilibrium Effects and Unemployment," IZA Discussion Papers 394, Institute of Labor Economics (IZA).
    8. Hans Gersbach, 1999. "Product market competition, unemployment and income disparities," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 135(2), pages 221-240, June.
    9. Gindling, T.H. & Terrell, Katherine, 2007. "The effects of multiple minimum wages throughout the labor market: The case of Costa Rica," Labour Economics, Elsevier, vol. 14(3), pages 485-511, June.
    10. Nora Lustig & Darryl McLeod, 1995. "Salario mínimo y pobreza: un análisis de corte transversal para países en desarrollo," Coyuntura Social 13219, Fedesarrollo.
    11. Guerrazzi, Marco & Meccheri, Nicola, 2012. "From wage rigidity to labour market institution rigidity: A turning-point in explaining unemployment?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(2), pages 189-197.
    12. Gindling, T.H. & Terrell, Katherine, 2009. "Minimum wages, wages and employment in various sectors in Honduras," Labour Economics, Elsevier, vol. 16(3), pages 291-303, June.
    13. César Calderón & Alberto Chong, 2009. "Labor market institutions and income inequality: an empirical exploration," Public Choice, Springer, vol. 138(1), pages 65-81, January.

    More about this item

    Keywords

    WP; labor market; unemployment rate; full employment; post tax; minimum wage system; unemployment benefit regime; unemployment duration; unskilled worker; replacement ratio; minimum wage regulation; unemployment benefit system; Minimum wages; Income inequality; Labor markets; Unemployment; Income; Europe;
    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
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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