国际货币基金组织：最低工资与非正式约束（英文版）

How does informality shape the impact of minimum wage policy?We study this question using evidence from Mexico’s 145% real increase in the minimum wage since 2016, together with a general equilibrium model featuring endogenous informality and household heterogeneity.Reduced-form estimates of the implemented increases indicate limited eff ects on employment and formalization, alongside modest wage gains at the bottom of the formal wage distribution that arguably refl ect incomplete enforcement.