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We develop a framework with rich worker heterogeneity, firm monopsony power, and putty-clay technology to study the distributional impact of the minimum wage in the short and long run. Our production technology is disciplined to be consistent with the small estimated employment effects of the...
Persistent link: https://www.econbiz.de/10014080871
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We develop a dynamic macroeconomic framework with worker heterogeneity, putty-clay adjustment frictions, and firm monopsony power to study the distributional impact of labor market policies over time. Our framework reconciles the well-known tension between low short-run and high long-run...
Persistent link: https://www.econbiz.de/10015361490
Persistent link: https://www.econbiz.de/10013365991
Persistent link: https://www.econbiz.de/10013368764
We develop a framework with rich worker heterogeneity, firm monopsony power, and putty-clay technology to study the distributional impact of the minimum wage in the short and long run. Our production technology is disciplined to be consistent with the small estimated employment effects of the...
Persistent link: https://www.econbiz.de/10013334511
Persistent link: https://www.econbiz.de/10015331081
Persistent link: https://www.econbiz.de/10015409146