How do you know that real wages are too high?

Manning, Alan ORCID: 0000-0002-7884-3580 (1995) How do you know that real wages are too high? Quarterly Journal of Economics, 110 (4). pp. 1111-1125. ISSN 0033-5533

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Abstract

It is a common belief that the existence of involuntary unemployment implies that wages are too high and that wage moderation should be encouraged as a way to keep unemployment down. This paper argues for a reconsideration of this view by showing that it is possible for a binding minimum wage to reduce unemployment or increase employment even if there is involuntary unemployment.

Item Type:	Article
Official URL:	http://qje.oxfordjournals.org/
Additional Information:	© 1995 The President and Fellows of Harvard College and the Massachusetts Institute of Technology
Divisions:	Centre for Economic Performance Economics
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory
JEL classification:	E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Employment, and Investment > E24 - Macroeconomics: Employment; Unemployment; Wages; Intergenerational Income Distribution (includes wage indexation)
Date Deposited:	30 Jun 2008 09:15
Last Modified:	01 Oct 2024 03:29
URI:	http://eprints.lse.ac.uk/id/eprint/5988

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