| Description |
1 online resource (21 pages) |
| Series |
IMF working paper ; WP/16/232 |
|
IMF working paper ; WP/16/232.
|
| Contents |
Cover; Contents; Abstract; I. Introduction; II. Stylized Facts; III. Literature Review; IV. Empirical Strategy: Estimation of the Pass-Through of Minimum Wages to Average Wages in Japan; A. Data; B. Empirical Estimation; V. Results; VI. Conclusion; Tables; 1. Wage Determinants in Japan (Prefectural Panel), Regression Results Using Instrumental Variables; 2. Wage Determinants in Japan (Prefectural Panel), Regression Results Using Ordinary Least Squares; Appendix; References |
| Summary |
Using prefectural data, we study the potential impact on wage dynamics of the planned minimum wage increase policy in Japan. Our main result is that stepping up minimum wage growth from 2 to the planned 3 percent per year could raise wage growth by 0.5 percent annually. Given Japan's need for income policies to generate vigorous wage-price dynanics, reflecting the 2 percent inflation target, one policy implication of this finding is that, while the minimum wage plan will help boost wages, it should be accompanied by other, more "unorthodox" income policies, such as a "soft target" for private sector wage growth through a "comply -or-explain mechanism" for wage growth and increases in public wages in line with the inflation target |
| Notes |
Print version record |
| Subject |
Minimum wage -- Japan
|
|
Minimum wage
|
|
Japan
|
| Form |
Electronic book
|
| Author |
Ganelli, Giovanni, author.
|
|
Tawk, Nour, author.
|
| ISBN |
1475558449 |
|
9781475558449 |
|
1475555342 |
|
9781475555349 |
|
