Professor of Labor Economics at Halle University & Senior Research Advisor at Halle Institute for Economic Research (IWH)
affiliated w/ ifo, CESifo, IZA & ROA
Website: https://sites.google.com/view/simonwiederhold
Simon Wiederhold
My friend is teaching to his Economics Ph.D. students and explaining why they should be interested in topics that are not in their subfield.
The friend asked for statements about why learning from other fields is good. Here was my answer:
"
Five things:
Here is a figure showing the various OECD countries minimum wages as a ratio of median. Average around 60%.
But many at or above 2/3.
Then there is an outlier, the US.
