Robbing Peter to pay Paul: a welfare analysis of minimum wage under indexation
Autor(a) principal: | |
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Data de Publicação: | 2024 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | https://hdl.handle.net/10438/35348 |
Resumo: | The post-redemocratization period in Brazil saw a significant rise in public expenditures indexed to the National Consumer Price Index (INPC) and the minimum wage, reaching 9.96% of GDP by 2019. Specifically, expenses tied to the minimum wage surged from 1.48% to 5.23% of GDP between 1996 and 2019, driven by real wage increases. Concurrently, the informal labor market persisted at around 39.1% of the workforce, mirroring levels from 1996. Employing a quantitative model with heterogeneous agents and the presence of an informal sector, calibrated for 1996, this study analyzes the impact of government expenditure indexation on worker welfare, particularly for minimum wage earners. Results show that while minimum wage hikes generally boost welfare, it worsens the welfare of workers in the bottom of the distribution, while boosting the welfare of those at the top. The tax burden to finance indexed expenditures diminishes these gains, leaving workers with only 96.65% of the potential welfare increase without expenditure indexation, if adjustment is made via revenue taxes. |
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Mendes, Gustavo MafraEscolas::EESPParente, Rafael MachadoGuimarães, Bernardo de VasconcellosPannella, Pierluca2024-05-27T17:11:50Z2024-05-27T17:11:50Z2024-04-22https://hdl.handle.net/10438/35348The post-redemocratization period in Brazil saw a significant rise in public expenditures indexed to the National Consumer Price Index (INPC) and the minimum wage, reaching 9.96% of GDP by 2019. Specifically, expenses tied to the minimum wage surged from 1.48% to 5.23% of GDP between 1996 and 2019, driven by real wage increases. Concurrently, the informal labor market persisted at around 39.1% of the workforce, mirroring levels from 1996. Employing a quantitative model with heterogeneous agents and the presence of an informal sector, calibrated for 1996, this study analyzes the impact of government expenditure indexation on worker welfare, particularly for minimum wage earners. Results show that while minimum wage hikes generally boost welfare, it worsens the welfare of workers in the bottom of the distribution, while boosting the welfare of those at the top. The tax burden to finance indexed expenditures diminishes these gains, leaving workers with only 96.65% of the potential welfare increase without expenditure indexation, if adjustment is made via revenue taxes.O período pós-redemocratização no Brasil viu um aumento significativo nas despesas públicas indexadas ao Índice Nacional de Preços ao Consumidor (INPC) e ao salário mínimo, atingindo 9,96% do PIB em 2019. Especificamente, as despesas vinculadas ao salário mínimo passaram de 1,48% para 5,23% do PIB entre 1996 e 2019, impulsionado por aumentos reais do mínimo. Ao mesmo tempo, a parcela da força de trabalho empregada no setor informal persistiu em cerca de 39,1%, nível registrado tanto em 1996 quanto em 2023. Utilizando um modelo quantitativo com agentes heterogêneos e a presença de um setor informal, calibrado para 1996, este estudo analisa o impacto da indexação da despesa pública ao mínimo sobre bem-estar dos trabalhadores, especialmente para aqueles que recebem o salário mínimo. Os resultados mostram que, embora os aumentos do salário mínimo geralmente aumentem o bem-estar, pioram o bem-estar dos trabalhadores na base da distribuição (informais), ao passo que aumentam o bem-estar daqueles que estão no topo (formais). A tributação necessária para financiar despesas indexadas diminui estes ganhos, deixando os trabalhadores com apenas 96,65% do potencial aumento do bem-estar que teriam, em comparação a um cenário em que não houvesse indexação das despesas públicas ao mínimo.engMinimum wageInformalityIndexationSocial securityPensionsSalário mínimoInformalidadeIndexaçãoPrevidência socialAposentadoriasEconomiaSalário-mínimoSetor informal (Economia)Indexação (Economia)Previdência socialAposentadoriaRobbing Peter to pay Paul: a welfare analysis of minimum wage under indexationinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas 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dc.title.eng.fl_str_mv |
Robbing Peter to pay Paul: a welfare analysis of minimum wage under indexation |
title |
Robbing Peter to pay Paul: a welfare analysis of minimum wage under indexation |
spellingShingle |
Robbing Peter to pay Paul: a welfare analysis of minimum wage under indexation Mendes, Gustavo Mafra Minimum wage Informality Indexation Social security Pensions Salário mínimo Informalidade Indexação Previdência social Aposentadorias Economia Salário-mínimo Setor informal (Economia) Indexação (Economia) Previdência social Aposentadoria |
title_short |
Robbing Peter to pay Paul: a welfare analysis of minimum wage under indexation |
title_full |
Robbing Peter to pay Paul: a welfare analysis of minimum wage under indexation |
title_fullStr |
Robbing Peter to pay Paul: a welfare analysis of minimum wage under indexation |
title_full_unstemmed |
Robbing Peter to pay Paul: a welfare analysis of minimum wage under indexation |
title_sort |
Robbing Peter to pay Paul: a welfare analysis of minimum wage under indexation |
author |
Mendes, Gustavo Mafra |
author_facet |
Mendes, Gustavo Mafra |
author_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::EESP |
dc.contributor.member.none.fl_str_mv |
Parente, Rafael Machado |
dc.contributor.author.fl_str_mv |
Mendes, Gustavo Mafra |
dc.contributor.advisor1.fl_str_mv |
Guimarães, Bernardo de Vasconcellos Pannella, Pierluca |
contributor_str_mv |
Guimarães, Bernardo de Vasconcellos Pannella, Pierluca |
dc.subject.eng.fl_str_mv |
Minimum wage Informality Indexation Social security Pensions |
topic |
Minimum wage Informality Indexation Social security Pensions Salário mínimo Informalidade Indexação Previdência social Aposentadorias Economia Salário-mínimo Setor informal (Economia) Indexação (Economia) Previdência social Aposentadoria |
dc.subject.por.fl_str_mv |
Salário mínimo Informalidade Indexação Previdência social Aposentadorias |
dc.subject.area.por.fl_str_mv |
Economia |
dc.subject.bibliodata.por.fl_str_mv |
Salário-mínimo Setor informal (Economia) Indexação (Economia) Previdência social Aposentadoria |
description |
The post-redemocratization period in Brazil saw a significant rise in public expenditures indexed to the National Consumer Price Index (INPC) and the minimum wage, reaching 9.96% of GDP by 2019. Specifically, expenses tied to the minimum wage surged from 1.48% to 5.23% of GDP between 1996 and 2019, driven by real wage increases. Concurrently, the informal labor market persisted at around 39.1% of the workforce, mirroring levels from 1996. Employing a quantitative model with heterogeneous agents and the presence of an informal sector, calibrated for 1996, this study analyzes the impact of government expenditure indexation on worker welfare, particularly for minimum wage earners. Results show that while minimum wage hikes generally boost welfare, it worsens the welfare of workers in the bottom of the distribution, while boosting the welfare of those at the top. The tax burden to finance indexed expenditures diminishes these gains, leaving workers with only 96.65% of the potential welfare increase without expenditure indexation, if adjustment is made via revenue taxes. |
publishDate |
2024 |
dc.date.accessioned.fl_str_mv |
2024-05-27T17:11:50Z |
dc.date.available.fl_str_mv |
2024-05-27T17:11:50Z |
dc.date.issued.fl_str_mv |
2024-04-22 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://hdl.handle.net/10438/35348 |
url |
https://hdl.handle.net/10438/35348 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.source.none.fl_str_mv |
reponame:Repositório Institucional do FGV (FGV Repositório Digital) instname:Fundação Getulio Vargas (FGV) instacron:FGV |
instname_str |
Fundação Getulio Vargas (FGV) |
instacron_str |
FGV |
institution |
FGV |
reponame_str |
Repositório Institucional do FGV (FGV Repositório Digital) |
collection |
Repositório Institucional do FGV (FGV Repositório Digital) |
bitstream.url.fl_str_mv |
https://repositorio.fgv.br/bitstreams/637ac41c-5af4-4d88-ba75-533672808900/download https://repositorio.fgv.br/bitstreams/3d2ac01a-1458-418a-8230-88f6295272dc/download https://repositorio.fgv.br/bitstreams/7543d731-dcb7-4e5e-bd5c-40b7b73de76d/download https://repositorio.fgv.br/bitstreams/8ee012ac-84da-4a3c-8625-801fa591c64a/download |
bitstream.checksum.fl_str_mv |
5f82c0fd70030eb56094a30aaee55304 2a4b67231f701c416a809246e7a10077 f8db1e7ba80dafb22b10be210d43e28c 29f1b2b716d581aeda8d38d63b03e8ab |
bitstream.checksumAlgorithm.fl_str_mv |
MD5 MD5 MD5 MD5 |
repository.name.fl_str_mv |
Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV) |
repository.mail.fl_str_mv |
|
_version_ |
1819892929508933632 |