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The application of regulatory mechanisms such as the minimum wage and the subsistence minimum for the reproduction of the labour force requires special attention from the State. The Russian labour market traditionally has a significant superiority of the average wage level over the living wage and above the minimum wage, which makes these mechanisms not effective in regulating reproductive processes. The existing gap between the average wage and the minimum wage causes imperfect competition in the Russian labour market. This necessitates a review of approaches to the minimum wage and living wage in order to extend these government regulatory mechanisms to labour reproduction processes.

THE IMPACT OF THE MINIMUM WAGE ON THE REPRODUCTION OF THE LABOUR FORCE IN THE RUSSIAN LABOUR MARKET