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The impact of elimination of Minimum Wage

(Advisor - Dr. Sandip Sankar, Xavier Institute of Management)

Investigated the net impact of the elimination of the minimum wage on any country’s economy. Researched how minimum wage affects socio-economic factors like employment, inequality, and poverty. Learned about theoretical arguments like the dynamic monopsony model. Through this research, I concluded that the minimum wage has a net positive impact and should not be abolished, supported my conclusions with empirical evidence. Found that the minimum wage has an optimum point, this led to my second research paper.

Paper: bit.ly/Omsharma3

Determining the optimum min wage using Machine Learning (Ongoing)

(Advisor: Dr. Sonali Shukla, Saraswati College of Engineering)

Developed ML Models which could predict a country’s optimal minimum wage based on economic characteristics like poverty line income. The model was developed to find the level of minimum wage at which poverty is at its lowest. Trained model using widely available data on the internet. Implemented model using data from India and provided an economic justification for the results produced.