The effects of a minimum wage in a dsge model: an extension of the bénassy model

La discusión sobre salarios mínimos encuentra resultados ambiguos. La teoría predice un efecto negativo para la economía, sin embargo otros estudios encuentran efectos positivos. Este trabajo implementa un salario mínimo en el marco de Bénassy (1995a) en términos nominales y reales. La calibración del modelo apoya las conclusiones tradicionales: un salario mínimo disminuye la producción total que no puede ser compensada por un shock positivo de tecnología. El consumo y la inversión disminuyen si la producción lo hace. Así, la economía en su conjunto se ve perjudicada por un salario mínimo.

Salarios mínimos, mercado de trabajo, ciclos de negocios

Barro, R. J. 2001. Macroeconomics. s.l. : The MIT Press, 2001.

Becker, G. S. 1962. "Investment in Human Capital: A Theoretical Analysis", The Journal of Political Economy, 1962, Vols. 70 (5, Part 2), pp. 9-49.

Bénassy, J. 1995. "Money and Wage Contracts in an Optimizing Model of the Business Cycle", Journal of Monetary Economics, 1995, Vol. 35, pp. 303-315.

— 1995. "Nominal Rigidities in Wage Setting by Rational Trade Unions", The Economic Journal, 1995, Vol. 105 (430), pp. 635-643.

— 2002. The Macroeconomics of Imperfect Competition and Nonclearing Markets. s.l.: The MIT Press, 2002.

Blanchard, O. and Gali, J. 2005. "Real Wage Rigidities and the New Keynesian Model", NBER Working Paper Series, 2005, Vol. 11806, pp. 1-36.

Blanchard, O. 2000. Macroeconomics. s.l.: Prentice Hall Inc., 2000.

— 1998. "Unemployment, Capital Accumulation, and Real Wages", s.l.: Prepared for a Lecture, 1998, Vol. 3, pp. 1-11.

Boal, W. M. and Ransom, M. R. 1997. "Monopsony in the Labor Market", Journal of Economic Literature, 1997, Vol. 35 (1), pp. 86-112.

Bosch, G. and Weinkopf, C. 2008. Low-Wage Work in Germany. s.l.: The Russell Sage Foundation Case Studies of Job Quality in Advanced Economies, 2008.

Burda, M. C. and Wedel, M. 2002. "Complementarity of Labor Market Institutions. Equilibrium Unemployment and the Propagation of Business Cycles", German Economic Review, 2002, Vol. 3 (1), pp. 1-24.

Burda, M. C. and Wyplosz, C. 2002. "Complementarity of Labor Market Institutions. Equilibrium Unemployment and the Propagation of Business Cycles", German Economic Review, 2002, Vol. 3 (1), pp. 1-24.

Card, D. and Krueger, A. B. 2000. "Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania: Reply", The American Economic Review, 2000, Vol. 90 (5), pp. 1397-1420.

— 1995. Myth and Measurement. s.l.: Princeton University Press, 1995.

DiBartolomeo, G., Acocella, N. and Tirelli, P. 2008. "Trend Inflation as a Workers Disciplining Device in a General Equilibrium Model", Department of Communication Working Paper Series, 2008, Vol. 14 (3), pp. 342-351.

Dolado, J., et al. 1996. "The Economic Impact of Minimum Wages in Europe", Economic Policy, 1996, pp. 319-372.

Edge, R., Laubach, T. and Williams, J. 2003. "The Response of Wages and Prices to Technology Shocks", FRB of San Francisco Working, 2003, Vols. 2003-21, pp. 1-39.

Fischer, S. 1977. "Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule", The Journal of Political Economy, 1977, Vol. 85 (1), pp. 191-205.

Gali, J. 1996. "Unemployment in Dynamic General Equilibrium Economies", European Economic Review, 1996, Vol. 40, pp. 839-845.

Hansen, G. D. 1985. "Indivisible Labor and the Business Cycle", Journal of Monetary Economics, 1985, Vol. 16, pp. 309-327.

Hercowitz, Z. and Sampson, M. 1991. "Output Growth, the Real Wage, and Employment Functions", American Economic Review, 1991, Vol. 81 (5), pp. 1215-1237.

King, R. J., Plosser, C. I. and Rebelo, S. T. 1988. "Production Growth and Business Cycles", Journal of Monetary Economics, 1988, Vol. 21, pp. 195-232.

Kydland, F. E. and Prescott, E. 1982. "Time to Build and Aggregate Fluctuations", Econometrica, 1982, Vol. 50 (6), pp. 1345-1370.

Lemons, S. 2004. "The Effects of the Minimum Wage on Wages, Employment and Prices", IZA Discussion Paper Series, 2004, Vol. 1135, pp. 1-8.

Lucas, R. 1977. "Understanding Business Cycles", Carnegie-Rochester Conference Series on Public Policy, 1977, pp. 7-29.

— 1978. "Unemployment Policy", The American Economic Review, 1978, Vol. 68 (2), pp. 353-357.

Moser, C. and Stähler, N. 2009. "Spillover Effects of Minimum Wages in a Two-Sector Search Model", Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank, 2009, Vol. 01/2009, pp. 1-35.

Moyen, S. and Sahuc, J. G. 2005. "Incorporation of Labor Market Frictions into an Optimizing-Based Monetary Policy Model", Economic Modelling, 2005, Vol. 22, pp. 159-186.

Pissarides, A. C. 2000. Equilibrium Unemployment Theory. s.l.: The MIT Press, 2000.

Romer, D. 2001. Advanced Macroeconomics. s.l.: McGraw-Hill Higher Education, 2001.

Saget, C. 2002. "How to get the Maximum out of the Minimum Wage", Labour Education Review, 2002, Vol. 128, pp. 67-73.

Sargent, T. J. 1987. Macroeconomic Theory. s.l.: Academic Press Inc., 1987.

Stigler, G. J. 1946. "The Economics of Minimum Wage Legislation", American Economic Association, 1946, Vol. 36 (3), pp. 358-365.