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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Chioveanu, I | - |
dc.contributor.author | Bennett, J | - |
dc.date.accessioned | 2017-09-18T12:24:47Z | - |
dc.date.available | 2017-09-18T12:24:47Z | - |
dc.date.issued | 2017 | - |
dc.identifier.citation | Journal of Public Economic Theory | en_US |
dc.identifier.issn | 1467-9779 | - |
dc.identifier.uri | http://bura.brunel.ac.uk/handle/2438/15157 | - |
dc.description.abstract | For two di¤erent regulatory standards, we examine the optimal minimum wage in a competitive labour market when the government is uncertain about supply and demand. Solutions are related to underlying supply and demand conditions, and to the extent of uncertainty and of rationing e¢ ciency. With expected earnings-maximization, greater uncertainty widens the range of parameter values for which a minimum wage should be set. With expected worker surplus-maximization and su¢ ciently e¢ cient rationing, a minimum wage should always be set. However, in both cases regulatory uncertainty may require a low minimum wage that may not bind in equilibrium. | en_US |
dc.language.iso | en | en_US |
dc.subject | minimum wage | en_US |
dc.subject | uncertainty | en_US |
dc.subject | worker surplus | en_US |
dc.title | The Optimal Minimum Wage with Regulatory Uncertainty | en_US |
dc.type | Article | en_US |
dc.relation.isPartOf | Journal of Public Economic Theory | - |
pubs.publication-status | Accepted | - |
Appears in Collections: | Dept of Economics and Finance Research Papers |
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Fulltext.pdf | 520.18 kB | Adobe PDF | View/Open |
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