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

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2014
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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.

Zusammenfassung in einer weiteren Sprache
Fachgebiet (DDC)
330 Wirtschaft
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Minimum wage, Routinisation, Education, Wage inequality, Unemployment
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ISO 690MARTENSEN, 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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