- Volume 16 Issue 10
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Problems and Improvements in Research on the Employment Effect of Minimum Wage
최저임금의 고용효과에 관한 연구의 문제점과 개선방향
- Park, Cheol-Ho (Chungbuk National University) ;
- Kang, Sang-Goo (Korea E-Trade Research Institute, Chung-Ang University)
- Received : 2018.07.30
- Accepted : 2018.10.20
- Published : 2018.10.28
Recently the Korean society has suffered severe conflicts over the rate of increase in the minimum wage, while academics have failed to provide appropriate standards through reliable research. Recent foreign studies using natural experimentation or meta-regression analysis show that the increase in minimum wage has little effect on employment. Domestic studies are not yet numerous in number, and they present different conclusions on employment effects depending on the data used, sample period, and research model. To properly assess the employment effects of the minimum wage, future studies should minimize measurement errors in minimum wage dataset, and appropriately consider the endogenous change of minimum wage, economic situation and trends of employment changes. It is also necessary to utilize natural experiment methods before and after the increase of the minimum wage.
Minimum wage;Employment effect;Low-wage workers;Poverty line;Monopsony
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