Minimilöner, industrialisering och multipla jämvikter

"Big Push models suggest that local product demand can create multiple labor market equilibria: one featuring high wages, formalization, and high demand and one with low wages, informality, and low demand. I demonstrate that minimum wages may coordinate development at the high wage equilibrium.

/.../ formal employment increases and informal employment decreases in response to the minimum wage. Local product demand also increases, and this formalization occurs only in the non-tradable, industrializable industries"

Jeremy Magruder (UC Berkeley), "Can Minimum Wages Cause a Big Push? Evidence
from Indonesia", paper 23 september 2011

via Chris Blattman, 17 nov