The Parameters of a National Minimum Hourly Wage
Published By: IZA - Institute for the Study of Labor | Published Date: June, 01 , 2014Both academic and political debates over the minimum wage generally
focus on the minimum wage rate. However, the minimum wage is a
complex institution composed of a wide variety of parameters. In this note, It shows that nominal rates provide a very crude picture of minimal
compensation and of actual employer cost by the comparison of the
French, British and US Federal national minimum hourly wages. The extent of their coverage, enforcement procedures, and how the "wage" is defined differ widely between countries. Taking these parameters into account can even alter the comparative hierarchy based on nominal rates alone.
Author(s): Vinish Kathuria, Philippe Askenazy | Posted on: Jan 28, 2016 | Views() | Download (384)