Routinization and the Decline of the U.S. Minimum Wage

Martensen, Finn

Routinization and the Decline of the U.S. Minimum Wage

Dateien

Martensen_0-276012.pdfGröße: 676.16 KBDownloads: 449

Datum

2014

Open Access-Veröffentlichung

Open Access Green

Sammlungen

Wirtschaftswissenschaften

Publikationstyp

Working Paper/Technical Report

Publikationsstatus

Published

Zusammenfassung

The U.S. minimum wage declined in real terms since the late 1970s. In the same time, the wage of the least skilled workers fell in real terms, while the wage of the highest skilled workers increased. To shed light on these issues, I use a simple model of routinization. High-ability workers, after having received additional education, can substitute low-ability co-workers by machines. Technical progress results in more high-ability workers receiving additional education and in a declining wage for low-ability workers. A government opposes both unemployment and wage inequality. I calibrate the model and show that technical progress induces the government to lower the minimum wage. Hence, the model contributes to understand the decline in the U.S. minimum wage.

Fachgebiet (DDC)

330 Wirtschaft

Schlagwörter

Minimum wage, Routinisation, Education, Wage inequality, Unemployment

Zitieren

ISO 690

MARTENSEN, Finn, 2014. Routinization and the Decline of the U.S. Minimum Wage

BibTex

@techreport{Martensen2014Routi-30043,
  year={2014},
  series={Working Paper Series / Department of Economics},
  title={Routinization and the Decline of the U.S. Minimum Wage},
  number={2014-16},
  author={Martensen, Finn}
}

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