Minimum Wages and Social Policy

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ISBN: 9780821370117 | 0821370111
Cover: Paperback
Copyright: 6/1/2007

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Unlike in the OECD, the minimum wage in Latin America and the Caribbean can be used to affect poverty and income inequality. However, the authors caution that policymakers must take care in setting the minimum wage level in conjunction with other social programs, such as unemployment safety nets, so as not to cause an increase in poverty.

Acknowledgments	p. ix
Introduction	p. xi
Overview	p. 1
Introduction	p. 1
Report Findings	p. 2
Issues for Policy Discussion	p. 3
Note	p. 5
Context and Framework	p. 7
The Historical and Social Justice Perspective-Birth and Evolution of the Minimum Wage	p. 7
Theoretical Underpinnings-the Classical Economic View	p. 10
Two-Sector Economies-Models with a "Covered" and "Uncovered" Sector	p. 12
Empirical Evidence from the OECD Countries	p. 13
The Latin American Research	p. 15
Notes	p. 16
Minimum Wage Institutions in LAC: What Are They and Who Earns Them?	p. 19
What Is a Minimum Wage?	p. 19
There Is No Common "Minimum Wage System" for LAC	p. 20
Who Earns the Minimum Wage?	p. 26
How High Is the Minimum Wage in LAC?	p. 31
Notes	p. 34
The Worker: How Do Minimum Wages Affect Other Wages and Employment?	p. 35
Minimum Wages Are Somewhat Binding	p. 35
Minimum Wage Policies Increase Wages throughout the Wage Distribution	p. 38
The Level of the Minimum Wage Determines Whether It Increases or Decreases Wage Inequality	p. 41
Wage Benefits Are Not Concentrated on Any Particular Group of Workers	p. 42
Minimum Wages Increase Unemployment	p. 44
Subnational Minimum Wages Are Standard Practice	p. 47
Notes	p. 48
The Households: The Minimum Wage as an Antipoverty Tool	p. 51
The Value of the Minimum Wage Is below the Household Subsistence Level	p. 52
The Minimum Wage Decreases Poverty Rates but Does Not Help the Most Poor	p. 53
High Minimum Wages Increase Household Income Inequality	p. 56
Notes	p. 57
The State: The Minimum Wage Implications for Public Expenditures	p. 59
The Minimum Wage May Have Large Impacts on the Public Sector Wage Bill	p. 59
An Increase in the Minimum Wage Can Have Substantial Impacts on the Cost of Social Benefits	p. 61
Notes	p. 62
The International Community: Lessons from Their Experiences	p. 65
Setting and Managing Minimum Wages	p. 66
Enforcement	p. 68
Note	p. 70
Report Conclusions and Policy Considerations	p. 71
Report Conclusions	p. 71
Considerations for Policy Debates	p. 75
Note	p. 77
References	p. 79
Research Methodologies	p. 87
Notes	p. 99
Summary of Literature	p. 101
Source of Data for Cross-Country Comparisons	p. 119
Kernel Density Plots	p. 121
Index	p. 127
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Minimum Wages and Social Policy

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