Minimum Wages and Wage Inequality in the OECD Countries
0
조회
0
다운로드
2
인용
0
참고문헌
키워드
초록
This paper investigates the impact of the effective minimum wage, defined as the log difference between the minimum and the median wages, on wage inequalities in the OECD countries. Unlike the previous studies that focus on single countries in which the minimum wage has no cross-sectional variation and rely instead on within-country variations of wage distribution across regions or socio-economic characteristics, we use a country panel that allows for both cross-sectional and time-series variations in minimum wage. We also control for more factors than in the previous studies whose absence may cause endogeneity. Our results confirm the previous findings that increases in minimum wage alleviate the wage inequality at the lower tail of the wage distribution, while having little effect at the upper tail. The estimated effect is larger for women than for men, which is consistent with the fact that the share of workers who are directly affected by the changes in minimum wage is bigger among women than men. An application of the IVs of Autor, Manning and Smith (2016) supports the robustness of our findings.
Abstract
This paper investigates the impact of the effective minimum wage, defined as the log difference between the minimum and the median wages, on wage inequalities in the OECD countries. Unlike the previous studies that focus on single countries in which the minimum wage has no cross-sectional variation and rely instead on within-country variations of wage distribution across regions or socio-economic characteristics, we use a country panel that allows for both cross-sectional and time-series variations in minimum wage. We also control for more factors than in the previous studies whose absence may cause endogeneity. Our results confirm the previous findings that increases in minimum wage alleviate the wage inequality at the lower tail of the wage distribution, while having little effect at the upper tail. The estimated effect is larger for women than for men, which is consistent with the fact that the share of workers who are directly affected by the changes in minimum wage is bigger among women than men. An application of the IVs of Autor, Manning and Smith (2016) supports the robustness of our findings.
참고문헌 (33)
- Acemoglu, D., "Handbook of Labor Economics. vol. 4B", pp.1043~1171 (2011), North-Holland
- Autor, D., "The Contribution of the Minimum Wage to US Wage Inequality over Three Decades: A Reassessment", American Economic Journal: Applied Economics, 8(1), pp.58~99 (2016)
- Barro, R. J., "A New Data Set of Educational Attainment in the World, 1950-2010", Journal of Development Economics, 104, pp.184~198 (2013)
- Berman, E., "Changes in the Demand for Skilled Labor within U.S. Manufacturing Industries: Evidence from the Annual Survey of Manufactures", Quarterly Journal of Economics, 109(2), pp.367~397 (1994)
- Borjas, G., "Foreign Competition, Market Power and Wage Inequality", Quarterly Journal of Economics, 110(4), pp.1075~1110 (1995)
- Bound, J., "Changes in the Structure of Wages in the 1980s: An Evaluation of Alternative Explanations", American Economic Review, 82(3), pp.371~392 (1992)
- Minimum Wages and Wage. Inequality: Some Theory and an Application to the UK, "Butcher, T.", CEP, ~, pp.CEP Discussion paper, no. 1177 (2012)
- Card, D., "Do Minimum Wages Reduce Employment? A Case Study of California, 1987-1989", Industrial and Labor Relations Review, 46(1), pp.38~54 (1992)
- Card, D., "Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania", American Economic Review, 84(4), pp.772~793 (1994)
- Card, D., "Myth and Measurement: the New Economics of the Minimum Wage" (1995), Princeton University Press
- Card, D., "Skill-Biased Technological Change and Rising Wage Inequality: Some Problems and Puzzles", Journal of Labor Economics, 20(4), pp.733~783 (2002)
- Dickens, R., "Has the National Minimum Wage Reduced UK Wage Inequality?", Journal of the Royal Statistical Society, Series A, 167(4), pp.613~626 (2004)
- Dickens, R., "Spikes and Spill-Overs: The Impact of the National Minimum Wage on the Wage Distribution in a Low-Wage Sector", Economic Journal, 114(494), pp.C95~C101 (2004)
- DiNardo, J., "Labor Market Institutions and the Distribution of Wages, 1973-1992: A Semiparametric Approach", Econometrica, 64(5), pp.1001~1044 (1996)
- Dube, A., "Minimum Wage Effects Across State Borders: Estimates Using Contiguous Counties", Review of Economics and Statistics, 92(4), pp.945~964 (2010)
- Feenstra, R., "Globalization, Outsourcing, and Wage Inequality", American Economic Review, 86(2), pp.240~245 (1996)
- The Analysis on Minimum Wages, "Jeong, J.-H.", KLI, ~, pp.KLI Research Series, 2011-02 (2011)
- Income-Led Growth: Policy Cases of Europe and the U.S, "Joe, D.-H.", KIEP, ~, pp.KIEP Research Paper Policy Analyses, 18-08 (2018)
- Juhn, C., "Wage Inequality and the Rise in Returns to Skill", Journal of Political Economy, 101(3), pp.410~442 (1993)
- Katz, L., "The Effect of Minimum Wage on the Fact-Food Industry", Industrial and Labor Relations Review, 46(1), pp.6~21 (1992)
- Katz, L. F., "Changes in Relative Wages, 1963-1987: Supply and Demand Factors", Quarterly Journal of Economics, 107(1), pp.35~78 (1992)
- Less Income Inequality and More Growth-Are They Compatible? Part 2 The Distribution of Labour Income, "Koske, I.", OECD, ~, pp.OECD working paper, no. 925 (2012)
- Krueger, A. B., "How Computers Changed the Wage Structure: Evidence from Micro Data", Quarterly Journal of Economics, 108(1), pp.33~60 (1993)
- Krugman, P., "Trade and Wages, Reconsidered", Brookings Papers on Economic Activity, 2008(Spring), pp.103~137 (2008)
- Lee, D. S., "Wage Inequality in the United States During the 1980s: Rising Dispersion or Falling Minimum Wage?", Quarterly Journal of Economics, 114(3), pp.977~1023 (1999)
- 이정민, "최저임금 인상이 임금분포에 미치는 영향", 한국경제의 분석, 24(2), pp.1~28 (2018), 한국경제의 분석패널[DOI]
- Lemieux, T., "The Changing Nature of Wage Inequality", Journal of Population Economics, 21(1), pp.21~48 (2008)
- The Effects of Minimum Wages on Wage Inequality and Gender Pay Gap in APEC Economies, "Moon, S.", KIEP APEC, ~, pp.KIEP APEC Study Series, 19-03 (2019)
- Murphy, K. M., "Occupational Change and the Demand for Skill, 1940-1990", American Economic Review, 83(2), pp.122~126 (1993)
- Neumark, D., "Employment Effects of Minimum and Subminimum Wages: Panel Data on State Minimum Wage Laws", Industrial and Labor Relations Review, 46(1), pp.55~81 (1992)
- Neumark, D., "Minimum Wages" (2010), The MIT Press
- Neumark, D., "Minimum Wages, Labor Market Institutions and Youth Employment: A Cross-National Analysis", Industrial and Labor Relations Review, 57(2), pp.223~248 (2004)
- Wage Inequality: Trends and Causes, "Seong, J.-M.", KLI, ~, pp.KLI Research Series, 2014-02 (2014)