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Positive and Normative Effects of a Minimum Wage

We review the positive and normative effects of a minimum wage in various versions of a search-theoretic model of the labor market.

Key words: Minimum wage, Search, Unemployment, Participation, Working Hours, Job Destruction.

JEL code: J08; J38; J42; E24

Suggested citation: Rocheteau, Guillaume, and Murat Tasci, 2008. "Positive and Normative Effects of a Minimum Wage," Federal Reserve Bank of Cleveland, Working Paper no. 08-01

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