Schooling, Training, Growth and Minimum Wages
研究了最低工资立法如何通过影响学校教育和培训两种技能形成渠道，进而对经济的长期增长产生不确定的影响。
We examine how the long‐run growth performance of an economy is affected by a labor market distortion. In our model, growth occurs through skill formation, and skills are generated through schooling and training of unskilled workers. We analyze how a minimum wage legislation affects long‐run growth. In general, the effects are ambiguous. The reason is that while a minimum wage discourages training, it also encourages schooling. The net effect then depends on whether training or schooling dominates the long‐run increases in labor productivity.