20 research outputs found
On economic growth and minimum wages
We offer an analysis of the existence of a positive relationship between minimum wages and economic growth in a simple one-sector overlapping generations economy where the usual Romer-typed knowledge spill-over mechanism in production represents the engine of endogenous growth, in the case of both homogeneous and heterogeneous (i.e., skilled and unskilled) labour. Assuming also the existence of unemployment benefits financed with consumption taxes not conditioned on age at a balanced budget, it is shown that minimum wages may stimulate economic growth and welfare despite the unemployment occurrence. Moreover, a growth-maximising minimum wage can exist. A straightforward message, therefore, is that a combination of minimum wage and unemployment benefit policies can appropriately be used to promote balanced growth and welfare
Fluidez en el mercado laboral: Colombia vs. Estados Unidos
Este producto forma parte de una serie de infografĂas de divulgaciĂłn cientĂfica que buscan reseñar algunas de las investigaciones más importantes en las que ha tenido participaciĂłn la Universidad EAFIT, publicadas en las revistas especializadas más prestigiosas del mund