Minimum wage and tolerance for high income

J 2023

Minimum wage and tolerance for high income

FAZIO, Andrea a Tommaso REGGIANI

Základní údaje

Originální název

Minimum wage and tolerance for high income

Autoři

FAZIO, Andrea (380 Itálie) a Tommaso REGGIANI (380 Itálie, garant, domácí)

Vydání

European Economic Review, NETHERLANDS, Elsevier Science BV, 2023, 0014-2921

Další údaje

Jazyk

angličtina

Typ výsledku

Článek v odborném periodiku

Obor

50202 Applied Economics, Econometrics

Stát vydavatele

Nizozemské království

Utajení

není předmětem státního či obchodního tajemství

Odkazy

URL

Impakt faktor

Impact factor: 2.800 v roce 2022

Kód RIV

RIV/00216224:14560/23:00134111

Organizační jednotka

Ekonomicko-správní fakulta

DOI

http://dx.doi.org/10.1016/j.euroecorev.2023.104445

UT WoS

001006801200001

Klíčová slova anglicky

Inequality; Redistribution; Minimum wage; Loss aversion; Reference point; UK.

Příznaky

Mezinárodní význam, Recenzováno

Změněno: 31. 1. 2024 19:54, Mgr. Pavlína Kurková

Anotace

V originále

We suggest that stabilizing the baseline income can make low-wage workers more tolerant towards high income earners. We present evidence of this attitude in the UK by exploiting the introduction of the National Minimum Wage (NMW), which institutionally sets a baseline pay reducing the risk of income losses and providing a clear reference point for British workers at the lower end of the income distribution. Based on data from the British Household Panel Survey (BHPS), we show that workers who benefited from the NMW program became relatively more tolerant of high incomes and more likely to support and vote for the Conservative Party. As far as tolerance for high incomes is related to tolerance of inequality, our results may suggest that people advocate for equality also because they fear income losses below a given reference point.

Návaznosti

GA20-06785S, projekt VaV

Název: Experimentální analýza problematiky přispívání na vícenásobné veřejné statky

Investor: Grantová agentura ČR, Experimental analysis of multiple public goods funding dilemmas

Přiložené soubory

1-s2.0-S0014292123000740-main.pdf

Vyhledat podobné dokumenty

Citovat

FAZIO, Andrea a Tommaso REGGIANI. Minimum wage and tolerance for high income. European Economic Review. NETHERLANDS: Elsevier Science BV, 2023, roč. 155, June, s. 1-17. ISSN 0014-2921. Dostupné z: https://dx.doi.org/10.1016/j.euroecorev.2023.104445.

@article{2279298,
   author = {Fazio, Andrea and Reggiani, Tommaso},
   article_location = {NETHERLANDS},
   article_number = {June},
   doi = {http://dx.doi.org/10.1016/j.euroecorev.2023.104445},
   keywords = {Inequality; Redistribution; Minimum wage; Loss aversion; Reference point; UK.},
   language = {eng},
   issn = {0014-2921},
   journal = {European Economic Review},
   title = {Minimum wage and tolerance for high income},
   url = {https://www.sciencedirect.com/science/article/pii/S0014292123000740},
   volume = {155},
   year = {2023}
}

TY  - JOUR
ID  - 2279298
AU  - Fazio, Andrea - Reggiani, Tommaso
PY  - 2023
TI  - Minimum wage and tolerance for high income
JF  - European Economic Review
VL  - 155
IS  - June
SP  - 1-17
EP  - 1-17
PB  - Elsevier Science BV
SN  - 00142921
KW  - Inequality
KW  - Redistribution
KW  - Minimum wage
KW  - Loss aversion
KW  - Reference point
KW  - UK.
UR  - https://www.sciencedirect.com/science/article/pii/S0014292123000740
N2  - We suggest that stabilizing the baseline income can make low-wage workers more tolerant towards high income earners. We present evidence of this attitude in the UK by exploiting the introduction of the National Minimum Wage (NMW), which institutionally sets a baseline pay reducing the risk of income losses and providing a clear reference point for British workers at the lower end of the income distribution. Based on data from the British Household Panel Survey (BHPS), we show that workers who benefited from the NMW program became relatively more tolerant of high incomes and more likely to support and vote for the Conservative Party. As far as tolerance for high incomes is related to tolerance of inequality, our results may suggest that people advocate for equality also because they fear income losses below a given reference point.
ER  -

FAZIO, Andrea a Tommaso REGGIANI. Minimum wage and tolerance for high income. \textit{European Economic Review}. NETHERLANDS: Elsevier Science BV, 2023, roč.~155, June, s.~1-17. ISSN~0014-2921. Dostupné z: https://dx.doi.org/10.1016/j.euroecorev.2023.104445.

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