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The Minimum Wage Puzzle in Less Developed Countries: Reconciling Theory and Evidence*

The Minimum Wage Puzzle in Less Developed Countries: Reconciling Theory and Evidence* »

Source: The Minimum Wage Puzzle in Less Developed Countries: Reconciling Theory and Evidence

Volume/Issue: 2020/23

Series: IMF Working Papers

Author(s): Christopher Adam , and Edward Buffie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 January 2020

ISBN: 9781513527888

Keywords: Real sector, Price indexes, Employment, Labor market characteristics, Human capital, climate economics, disaster risk, macro feedbacks, multi-phase macro model, monetary and financial policies

We show that a dynamic general equilibrium model with efficiency wages and endogenous capital accumulation in both the formal and (non-agricultural) informal sectors can explain the full range of confounding styliz...

The Minimum Wage Puzzle in Less Developed Countries: Reconciling Theory and Evidence

The Minimum Wage Puzzle in Less Developed Countries: Reconciling Theory and Evidence »

Volume/Issue: 2020/23

Series: IMF Working Papers

Author(s): Christopher Adam , and Edward Buffie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 January 2020

DOI: http://dx.doi.org/10.5089/9781513527888.001

ISBN: 9781513527888

Keywords: Real sector, Price indexes, Employment, Labor market characteristics, Human capital, climate economics, disaster risk, macro feedbacks, multi-phase macro model, monetary and financial policies

We show that a dynamic general equilibrium model with efficiency wages and endogenous capital accumulation in both the formal and (non-agricultural) informal sectors can explain the full range of confounding styliz...