Java Agent-based MacroEconomic Laboratory

Jamel: Introduction of a minimum wage

Jamel: Home


The previous experimentation has shown how a flexibility shock can lead the system to a deflation crisis. In the curent experimentation we simulate the introduction of a minimum wage (equals 205), restoring rigidity in the labor market after the flexibility shock.
The minimum wage is introduced in the year 2045.

The interested reader will find more details in this paper:
Seppecher, P. (2012): "Flexibility of wages and macroeconomic instability in an agent-based computational model with endogenous money". Macroeconomic Dynamics, 16(s2).


Parameters:

The random seed:
The new households resistance after the shock:
The year in which the shock occures:
The minimum wage:
The year of the minimum wage introduction:

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