The decline of welfare benefits in the U.S.: the role of wage inequality

Article Abstract:

The assumption that the drop in welfare benefits in the US since 1973 can be partly credited to decreases in the wage rates of unskilled employees at the base of the wage distribution proved to have a solid basis. A new approach of enforcing median voter models emerged when direct individual-level data on preferences is accessible. The accessibility of individual preference information opens the likelihood of assessing options to the median voter model.

Economic Planning & Research, Economic conditions, Welfare recipients, Wages and salaries, Domestic economic assistance

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The effect of minimum-wage laws on the distribution of employment: theory and evidence

Article Abstract:

Aggregate employment need not rise in a monopsonistic labor market since the greater output decreases price and causes exit, though individual monopsonistic companies boost employment in answer to a small minimum wage. Furthermore, the only forecasts that monopsony-like models produce involving which group's employment will be most affected concern the groups' elasticity of labor supply, and even the forecasts appear feeble.

Wage Administration, Compensation management, Compensation (Law)

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The consequences of minimum wage laws: some new theoretical ideas

Article Abstract:

It is commonly assumed that mandatory minimum wage laws move businesses backward along the demand curve for low skill workers. A conventional efficiency wage model is used to show that such an effect is produced only when labor productivity is not dependent on the wage. The model also shows that a mandatory minumum wage could actually generate an increase in low-wage employment.

Wage & Price Stabilization, Labor law, Wage price policy

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