| Budget Amount *help |
¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
Fiscal Year 2014: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2013: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2012: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2011: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
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| Outline of Final Research Achievements |
An effect of minimum wage hike on employment rate is controversial among economists. We often hear that minimum wage hike leads to an increase in consumption and aggregate demand and then increase in employment rate. However, these effects does not appear on the ground of standard neo-classical macroeconomics model in which the GDP is determined by the supply-side and consquently the minimum wage hike causes an increase in the labor cost and an decrease in employment and aggregate output. On the contrary, this research shows the increase of minimum wage raises consumption, aggregate demand, employment rate and social welfare in deflationary equilibrium using the macroeconomics model which is almost similar to standard model.
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