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Essay's paper info
| Topic: |
Science
|
| Number of pages / Number of words: |
7 / 1698 |
Essay's paper body
Thus, the new reservation wage
shoule be equal to rUw (wm). Under the Nash bargaining condition (9), we
should have the wage equation:
w(p;Uw (wm)) = (1 ?? )p + rUw (wm) (10)
we assume the worker would receive the minimum wage wm when p = bp,
where
bp(w;Uw (wm)) = wm??rUw(wm)
(1??)
When matched pair produces p belongs to the set [wm; bp), the wage o¤er
according to (10) is less than wm...
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Therefore, the ?rm pays the wage of wm for
all p 2 [wm; bp). And for any p bp, the wage o¤ers are determined according
to (10). We can now consider the unemployed search value for workers which is
given by
rUw (wm) = b + wfZ bp(w;Uw(wm))
wm hwm+Uw(wm)
r+ ?? Uw (wm)idG (p)
+Z
bp(w;Uw(wm)) h(1??)p+rUw(wm)+Uw(wm)
r+ ?? Uw (wm)idG (p)g
2
Rearrange we get
rUw (wm) = b + w
r+fZ bp(w;Uw(wm))
wm
[wm ?? rUw (wm)] dG (p)
+(1 ?? ) Z
bp(w;Uw(wm))
[p ?? rUw (wm)] dG(p)g (11)
From equation (11), we can see that the ?rst term in braces is the surplus
value when the minimum wage is binding and the second term is the surplus
value when the minimum wage is not binding...
Essay fragment
General points of the essay
Life Struggle on Minimum Wage
Minimum Wage Laws
Minimum Wage Legislation
Raising Minimum Wage
The Effects of Higher Minimum Wage
The effect of the minimum wage has on unemployment
MINIMUM WAGE
Change in Federal Minimum Wage
Minimum Wage Impact
Raising The Minimum Wage
The Minimum Wage And Why We Should Leave It
Against raising minimum wage
Minimum Wage debate
minimum wage troubles
Should Minimum Wage Be Increased?
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