The B.E. Journal of Macroeconomics
Editor-in-Chief: Cavalcanti, Tiago / Mertens, Karel
Ed. by Abraham, Arpad / Carceles-Poveda , Eva / Debortoli, Davide / Kambourov, Gueorgui / Lambertini, Luisa / Pavoni, Nicola / Ruhl, Kim / Nimark, Kristoffer / Wang, Pengfei
2 Issues per year
IMPACT FACTOR 2015: 0.164
5-year IMPACT FACTOR: 0.403
SCImago Journal Rank (SJR) 2015: 0.205
Source Normalized Impact per Paper (SNIP) 2015: 0.317
Impact per Publication (IPP) 2015: 0.222
Do Minimum Wages Raise the NAIRU?
Maybe a lot. The ratio of the minimum wage to the average wage enters a Phillips-curve equation with a coefficient that is highly significant, stable, and robust. One interpretation of these results is that the relative level of the minimum wage affects the Non-Accelerating Inflation Rate of Unemployment or NAIRU. My estimates are consistent with the reduction in the relative level of the minimum wage since 1980 lowering the U.S. NAIRU about 1½ percentage points, while raising the NAIRU in continental Europe. However, other interpretations are also possible.