Abstract
The issue of labour markets has been of interest not only to the theory of
economics but also the economic policy practice for years. The importance of
this issue results mainly from a common phenomenon of unemployment and its
economic and social dimensions. With the occurrence of rising unemployment
in the world, special attention was paid to institutional factors influencing
labour markets, such as a statutory minimum wage, labour-related tax, labour
law regulations and a model of negotiating remuneration. Several years
after the introduction of the first minimum wage regulations, a call for raising
a minimum wage is still a popular topic of public debate in many countries. Participation
in this debate, however, requires understanding of the dependencies
and the influence of a minimum wage on a labour market. The article aims to
present the dependencies and consequences of the use of a minimum wage.
The successive parts of the article present facts and data regarding a minimum
wage in particular countries, a theoretical description of a minimum wage and
an analysis of the influence of a minimum wage on a labour market. The examination
of the influence of a minimum wage on a labour market is conducted
from the point of view of the influence of this instrument based on the size of
a labour market, i.e. the level of employment and unemployment as well as the
differentiation of remuneration in the economy.