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  • Anforme What impact may the national minimum wage have on wage differentials?

Anforme What impact may the national minimum wage have on wage differentials?

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Allan Hodge, Head of Economics at Cheltenham Ladies’ College, examines the repercussions of government intervention on pay in the labour market.

Summary of contents:

  • Definitions of minimum wage and wage differentials, including union involvement and marginal revenue products, with real world examples.
  • Will differentials be compressed equally across the country for the same jobs? Looks at regional implications of a national minimum wage and whether it matters if differentials get compressed?
  • How do firms react to the introduction of a new minimum wage? Examines redundancy, raising worker productivity and raising the price of the finished product.
  • What do firms do about the erosion of differentials? Actual evidence shows a mixed picture.


This article is featured in ET volume 19 issue 3

Allan Hodge, Head of Economics at Cheltenham Ladies’ College, examines the repercussions of government intervention on pay in the labour market.

Summary of contents:

  • Definitions of minimum wage and wage differentials, including union involvement and marginal revenue products, with real world examples.
  • Will differentials be compressed equally across the country for the same jobs? Looks at regional implications of a national minimum wage and whether it matters if differentials get compressed?
  • How do firms react to the introduction of a new minimum wage? Examines redundancy, raising worker productivity and raising the price of the finished product.
  • What do firms do about the erosion of differentials? Actual evidence shows a mixed picture.


This article is featured in ET volume 19 issue 3

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