The path‐breaking work of Card and Krueger, showing that a higher minimum wage can increase employment, turned the age‐old conventional wisdom on its head. This paper demonstrates that this apparently paradoxical result is perfectly plausible in a competitive general equilibrium production structure of a small open economy with a non‐traded good, without recourse to monopsony, spatial heterogeneity, heterogeneity of consumers and so on, the usual theoretical drivers behind the result. Following Jones and Marjit, we build a simple general equilibrium model with production complementarity and we show that a higher minimum wage can raise aggregate employment. Expansion in the non‐traded sector following a wage hike may be consistent with the overall expansion of the export sector in a multi‐good framework, an unlikely outcome in a conventional two‐good model which cannot accommodate with production complementarity.

中文翻译：

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总体均衡中的最低工资，贸易和失业

Card和Krueger的开创性工作表明，提高最低工资可以增加就业机会，这使古老的传统观念变成了现实。本文证明，这种明显的自相矛盾的结果在没有商品贸易的小开放经济的竞争性一般均衡生产结构中是完全合理的，而无需依靠垄断，空间异质性，消费者异质性等等，这通常是背后的理论驱动力结果。按照琼斯和马吉特的观点，我们建立了一个具有生产互补性的简单的一般均衡模型，并且表明更高的最低工资可以增加总就业。工资上涨后非贸易部门的扩张可能与多重商品框架下出口部门的总体扩张相一致，