Policy Forum: economic aspects of minimum wages

Article Abstract:

The minimum wage has different and numerous economic effects. These are fair earnings distribution to low paid workers, reduction of earnings differential between genders and improvement of employment conditions. However, its distributive effects depend on the parties involved and effective enforcement of its implementing mechanisms. While an optimal minimum wage would have a minimal effect on employment, it would reduce worker turnover who move to high paying jobs and improve workers' earnings particularly for women.

Wages, Minimum wage, Income distribution

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Vertical and horizontal intra-industry trade: a cross industry analysis for the United Kingdom

Article Abstract:

Theories have been developed to explain the emergence of intra-industry trade (IIT). Horizontal and vertical product differentiation is an important distinction in IIT's theoretical literature. Trade in the UK is analyzed using this distinction, using a unit value dispersion criterion and industry characteristics. The study shows that failure of distinguishing vertical and horizontal IIT may affect interpretation of empirical findings.

Analysis, International trade

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Modelling labour market adjustment to trade liberalisation in an industrialising economy

Article Abstract:

A formulation of a model was undertaken based on labor market adjustment to trade liberalization under an industrialized country. The process involved analysis of short- and long-term reactions of employment and wages through utilization of a particular factor trade model. Validation of theoretical forecasts concerning differential responses between importable and exportable sectors was obtained.

Economics, Research and Development in the Social Sciences and Humanities, Models, Economic policy, Labor market

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