THE IMPACT OF THE REGULATION OF LOW WAGES ON INEQUALITY AND LABOUR-MARKET ADJUSTMENT: A COMPARATIVE ANALYSIS

摘要

In all continental European countries there exist non-market mechanisms that determine or 'regulate' wage rates for the low-paid. We consider the experience of three countries that have national minimun wages- France, Belgium, and the Netherlands-and three where low wage are determined through wide- Spread collective bargaining-Germany, Italy, and Denmark. We find that overall there is less inequality (both wage and income)and less poverty that in the United Kingdom and the Unite States, where low wages are less regulated.