Economics, Econometrics and Finance
8 years ago

Lithuanian minimum wage impacts labor market dynamics and wage negotiations.

Economics of Transition
The minimum wage and the Lithuanian labour market
Algirdas Bartkus

Paper Summary

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The article analyzes the impact of minimum wage on the Lithuanian labor market using univariate and multivariate models. The researchers focus on how minimum wage affects overall wages and propose a method to incorporate minimum wage dynamics into economic models. By studying wage bargaining processes, they show the importance of considering minimum wage when analyzing the labor market. The study demonstrates the complexity of building realistic labor market models and emphasizes the need to include minimum wage dynamics in economic analyses.