Economics, Econometrics and Finance
3 years ago

Raising minimum wage in Russia reduces poverty and boosts labor market

RePEc: Research Papers in Economics
The impact of the minimum wage on the labor market and the level of poverty in Russia
Marina Lopatina, Victor Lyashok

Paper Summary

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The minimum wage in Russia was changed in 2018 to align with the cost of living. This study looks at how this change affected the job market and poverty levels. The researchers found that removing regional differences in the minimum wage and raising it to match the minimum needed for a decent standard of living had an impact on both employment and poverty rates.