The Impact of Minimum Wages on Wage Inequality and Employment in the Formal and Informal Sector in Costa Rica

William Davidson Institute Working Paper 479

Table 1:

Effect of Minimum Wage on Wage Dispersion

	Covered Sector	Self- Employed
Panel A: log of coefficient of variation Toughness Toughness² Time Dummies Industry dummies	-0.015 (0.015) 0.00008 (0.00010) Yes Yes	-0.0039 (0.0158) 0.00005 (0.00011) Yes Yes
Adjusted R²	0.80	0.77
Panel B: log of Gini Toughness Toughness² Time Dummies Industry dummies	-0.0315 ^a (0.013) 0.0002 ^b (0.0001) Yes Yes	-0.015 (0.013) 0.0001 (0.0001) Yes Yes
Adjusted R²	0.73	0.79
Panel C: Theil mean log deviation Toughness Toughness² Time Dummies Industry Dummies	-0.055 ^b (0.025) 0.00034 ^c (0.00018) Yes Yes	-0.034 (0.031) 0.00029 (0.00022) Yes Yes
Adjusted R²	0.69	0.60
No. of Observations	91	91

^aSignificant at the 1% level; ^bsignificant at the 5%
level; ^csignificant at the 10% level.

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