Solving the Puzzle between the Minimum Wage and (In) formal Employment: An Analysis for a Developing Economy
This paper examines the effects of the minimum wage on employment, as well as other labor market outputs such as (in)formality, inactivity and hours of work. We use a data panel from 2009 to 2016 from the main regions of Colombiaand exploitthe exogenous variation of the minimum wage to isolate the effects of the simultaneous determination of employment and wages. The results show that the minimum wage negatively affectsboth formal and informal employment, which implies a decrease in the employment rate.
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