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The Minimum Wage and Labor Market Outcomes$
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Christopher J. Flinn

Print publication date: 2011

Print ISBN-13: 9780262013239

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262013239.001.0001

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Labor Market and Welfare Impacts of Minimum Wages

Labor Market and Welfare Impacts of Minimum Wages

(p.73) 4 Labor Market and Welfare Impacts of Minimum Wages
The Minimum Wage and Labor Market Outcomes

Christopher J. Flinn

The MIT Press

This chapter applies the model developed in Chapter 3 in order to examine the manner in which a change in the statutory minimum wage affects equilibrium in the labor market, as well as the welfare of agents on the supply and demand sides of the market. It begins by looking at how shifts in the minimum wage affect the unemployment rate and the accepted wage distribution. This is followed by a section that develops and motivates a number of welfare measures within a Benthamite social welfare framework.

Keywords:   minimum wage, labor market, wage changes, wage distribution, welfare measures, social welfare framework

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