The Correlation Between Minimum Wage and Youth Unemployment: A Cross Country AnalysisReport as inadecuate


The Correlation Between Minimum Wage and Youth Unemployment: A Cross Country Analysis


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In this paper, we are exploring the correlation of minimum wage with youth unemploymentacross 25 OECD countries. We chose to focus on youth unemployment as opposed to overallunemployment for multiple reasons. One reason is that the effects of economic changes areoften exaggerated in the youth labor market because of the lower skillset and experience that youth tend to have, making them more easily disposable than other workers. We developed two models. The first is a simple linear regression model; however, because of low statisticalsignificance in this model, we decided to further explore the correlation using a multiple linearregression model. With this model, we found the relationship between the minimum wage and youth unemployment is positive and has a coefficient of 0.0176.



Econometric Analysis Undergraduate Research Papers -



Author: Griffith, Watson - Paull, Kathryn - Smith, Rebecca - -

Source: https://smartech.gatech.edu/







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