<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0185-1667</journal-id>
<journal-title><![CDATA[Investigación económica]]></journal-title>
<abbrev-journal-title><![CDATA[Inv. Econ]]></abbrev-journal-title>
<issn>0185-1667</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Economía]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0185-16672017000200033</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Reducing the race to the bottom: A primer on a global floor for minimum wages]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Caraballo Cueto]]></surname>
<given-names><![CDATA[José]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de Puerto Rico  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Puerto Rico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2017</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2017</year>
</pub-date>
<volume>76</volume>
<numero>300</numero>
<fpage>33</fpage>
<lpage>51</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0185-16672017000200033&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0185-16672017000200033&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0185-16672017000200033&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: A &#8220;race towards the bottom&#8221; in very poor countries is a policy that deliberately de- presses wages to attain higher competitiveness in the global market. This policy distorts the comparative advantages that would emerge in the absence of such an economic policy and also induces lower purchasing power, leading to suboptimal consumption. There are barely any theoretical models (to our knowledge) showing the impact of a global minimum for minimum wages. We found that, under such circumstances, a global lower bound for minimum wages that reestablishes the competitive wage rate in very poor countries represents a Pareto improvement: It enhances the markets due to the expansion in sales caused by the increase in real wages of the vast majority (workers). One of the innovations of this primer is to apply a simple DSGE model to the macroeconomic consequences of a global minimum for minimum wages.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: Una carrera hacia la depauperación en países muy pobres es una política pública que busca reducir deliberadamente los salarios para tratar de alcanzar una competitividad mayor en el mercado global. Esta política desvirtúa las ventajas comparativas que emergerían en ausencia de ese tipo de política económica y también induce hacia un poder adquisitivo menor, llevando a un consumo subóptimo. En la actualidad no se ha modelado teóricamente (hasta donde sabemos) el impacto de un mínimo global para los salarios mínimos. Bajo estas circunstancias, encontramos que una cota inferior global para salarios mínimos que restablezca el salario competitivo en estos países muy pobres representa una mejora paretiana: magnifica los mercados gracias a las nuevas ventas que ocurren gracias al aumento en el salario real de la mayoría (trabajadores). Una de nuestras innovaciones es introducir un modelo DSGE sencillo para modelar las consecuencias macroeconómicas de un mínimo global para los salarios mínimos; un tema poco estudiado en la literatura relacionada.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Minimum wage]]></kwd>
<kwd lng="en"><![CDATA[global labor standards]]></kwd>
<kwd lng="en"><![CDATA[race to the bottom]]></kwd>
<kwd lng="en"><![CDATA[multinationals]]></kwd>
<kwd lng="en"><![CDATA[DSGE]]></kwd>
<kwd lng="es"><![CDATA[salario mínimo]]></kwd>
<kwd lng="es"><![CDATA[estándares laborales internacionales]]></kwd>
<kwd lng="es"><![CDATA[carrera hacia la depauperación]]></kwd>
<kwd lng="es"><![CDATA[multinacionales, DSGE]]></kwd>
</kwd-group>
</article-meta>
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