Growth and Employment in Europe: Sustainability and Competitiveness, Department of Economics, WU (Wirtschaftsuniversität Wien)
On the Empirics of Minimum Wages and Employment: Stylized Facts for The Austrian Industry
Abstract: We ask for the empirical evidence of the textbook theory
of minimum wages for the Austrian Industry. The bargaining result of unions
and firms is interpreted as a minimum wage, as the bargaining situation in
Austria may be described best by a "right to manage-model". Based on the
analysis of micro-founded "employment functions" in contrast to the
predictions of the textbook analysis no significant negative effect of
minimum wages on employment is found.
Keywords: Minimum Wages; Employment; Austrian Industry; (follow links to similar papers)
JEL-Codes: J23; J31; (follow links to similar papers)
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