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VGU RESEARCH REPOSITORY


Please use this identifier to cite or link to this item: https://epub.vgu.edu.vn/handle/dlibvgu/628
Title: Effect of minimum wage on labor supply and demand - a case of Vietnam
Authors: Ngo Ngoc Anh Thu 
Keywords: Wage;Labor;Supply and demand
Issue Date: 2017
Publisher: Vietnamese-German University
Abstract: 
Focused on the effect of minimum wage on the labor market, whereby this paper present an overall outlook about the facts and trends in the labor market lately as well as an empirical study about Vietnam market. First point of this research is giving a general concept of labor economics. Labor economics is demonstrated in microeconomics as a specific circumstance in individual company and macroeconomics which is more general as money and capital, or trading market and labor. Two essential things when you first mention about labor economics are its supply and demand, even in microeconomics or macroeconomics. Since this issues in financial market is augment, how to balance between the supply and demand of labor forces is questioned. Obviously, labor market is redundant when number of people willing to work more than socioeconomics needs and vice versa. The demand for labor varied for different markets like competitive and non-competitive markets. In the other hand, supply side is depends on decision of workers. Working hours, tax, earning or even working environment are matters that effect on labor decisions. For example, working hours affect on leisure time,
tax affect on workers earning.To give a solution for those issues, knowing the operating method of labor market is importance. In the United States history, labor forces changed a lot when the government altered working time in 1900s. Therefore, workers can make a choice between their wages and leisure time. The authors of manystudies have proposed that wage constitute take a huge impact, both positive and negative. The labor forces behavior or reaction to supply and demand under the market pressure is focused on second section. No refuse that minimum wage is an importan factor in workers decisions. Many of them even prefer to be unemployment rather than have a jobwhich doesn’t appropriate. I only go briefly about reasons that cause unemployment. Moreover, pay-off and productivity is related with each other. After comprehensive those points, you will have a broader view about this complicated markets of labor. Generally, labor markets are mainly discriminated by 2 models: classical model, or people usually called it Keynesian theory and neo-classical model. One model realized market as perfectly while other treats it "naturally".
Finally, after having basic economics concepts about labor issues, this study also includes an empirical study to illustrate and put into practice the theory mentioned above, as well as observing how many economic instruments deal with an empirical situation. More details about the labor economics and its model are referred in following section.
URI(1): http://epub.vgu.edu.vn/handle/dlibvgu/628
Rights: Attribution-NonCommercial 4.0 International
Appears in Collections:Finance & Accounting (FA)

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