Minimum Wages
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Minimum Wages
A comprehensive review of evidence on the effect of minimum wages on employment, skills, wage and income distributions, and longer-term labor market outcomes concludes that the minimum wage is not a good policy tool.
What Does the Minimum Wage Do?
Belman and Wolfson perform a meta-analysis on scores of published studies on the effects of the minimum wage to determine its impacts on employment, wages, poverty, and more.
Minimum Wages in China
This book considers the positive and negative impacts of the minimum wage policy in China. Since China enacted its first minimum wage law in 1994, the magnitude and frequency of changes in the minimum wage have been substantial, both over time and across jurisdictions. The results from China’s experience show that rapidly increasing minimum wages have helped increase average wages and reduce the gender wage gap, income inequality, and poverty. However, the fast-rising minimum wage has also resulted in the loss of employment for young adults, women, low-skilled workers, and migrant workers. Additionally, higher minimum wages have a negative impact on firm profitability and adverse effects on firm’s human capital investment. In summary, the Chinese minimum wage policy has shown both positive and negative impacts on the affected workers. Through unpacking these findings, the book highlights the importance of rigorous research to inform evidence-based policymaking and provides lessons for other transitional and developing economies.