Unemployment effects of the German minimum wage in an equilibrium job search model
利用德国行政数据估计均衡搜索模型，模拟统一最低工资的影响，发现失业与最低工资水平呈非单调关系，且效应因地区、技能和工人能力而异。
We structurally estimate an equilibrium search model using German administrative data and use the model for counterfactual analyses of a uniform minimum wage. The model with worker and firm heterogeneity does not restrict the sign of employment effects a priori; it allows for different job offer arrival rates for the employed and the unemployed and lets firms optimally choose their recruiting intensity. We find that unemployment is a non-monotonic function of the minimum wage level. Effects differ strongly by labor market segment defined by region, skill, and permanent worker ability. • Structural estimation of an equilibrium search model enables counterfactual minimum wage analyses. • The model includes firms’ recruitment intensity and allows for flexible offer arrival rates. • Unemployment is non-monotonic in the minimum wage level. • Effects differ by region, skill, and ability.