Cubitt, Robin P; Heap, Shaun P Hargreaves - In: Scottish Journal of Political Economy 46 (1999) 2, pp. 135-57
physical capital. The paper considers the impact of a minimum wage in the second period. It shows that, in equilibrium, this … policy increases both types of investment. There is a range of values of the minimum wage at which the increases in …. Under very specific circumstances, the minimum wage achieves a Pareto efficient outcome. Copyright 1999 by Scottish Economic …