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Working Paper

Positive and Normative Effects of a Minimum Wage

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We review the positive and normative effects of a minimum wage in various versions of a search-theoretic model of the labor market.
02.01.2008ISSN 2573-7953 WP 08-01DOI 10.26509/frbc-wp-200801
Keywords minimum wage, search, unemployment, participation, workinghours, job destruction
JEL Classification Codes J08, J38, J42, E24

Working Papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views expressed in this paper are those of the authors and do not represent the views of the Federal Reserve Bank of Cleveland or the Federal Reserve System.

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. https://doi.org/10.26509/frbc-wp-200801