Download or read book Two Empirical Analyses of the Minimum Wage Impacts on Employment written by Yandi Liu and published by . This book was released on 2015 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contentious debates regarding minimum wages have produced little agreement so far on the extent to which it affects employment. The dissertation intends to provide a better understanding of minimum wage impacts on employment. The literature review considers both the theoretical models and empirical studies, as well as providing a detailed examination of their methodologies. Two empirical studies form the core of the dissertation. One study estimates the minimum wage impacts using state-level CPS data from 1979 to 2011 in a panel regression framework. The other study explores a natural experiment due to a legislated increase of the minimum wage in Missouri but not in Kansas. Comparing firms in the Kansas City metropolitan area on both sides of the state boundary, the analysis considers minimum wage effects at both the firm-level and individual-level for various groups of firm sizes and different earners. The analysis is performed on multiple selected broad industries. This dissertation finds that in general minimum wage reduces total employment. However, the impacts of minimum wage policy do vary substantially across industries and across groups. Firms with no more than 10 employees and new firms are more likely to experience increase in employment with the increase of minimum wages. In addition, due to substitution effects, people with wages above the minimum wages could get increased chance of being employed from this policy. In contrast, most of the estimates for people who work very few hours are insignificant. However, in the industries with higher proportions of low wage workers, that is, in retail trade and food industries, the probability of being employed for these employees is reduced. The major policy implication is that our empirical findings throw light on the importance of distinguishing between industries and between workers with different earnings.
Download or read book Myth and Measurement written by David Card and published by Princeton University Press. This book was released on 2015-12-22 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: From David Card, winner of the Nobel Prize in Economics, and Alan Krueger, a provocative challenge to conventional wisdom about the minimum wage David Card and Alan B. Krueger have already made national news with their pathbreaking research on the minimum wage. Here they present a powerful new challenge to the conventional view that higher minimum wages reduce jobs for low-wage workers. In a work that has important implications for public policy as well as for the direction of economic research, the authors put standard economic theory to the test, using data from a series of recent episodes, including the 1992 increase in New Jersey's minimum wage, the 1988 rise in California's minimum wage, and the 1990–91 increases in the federal minimum wage. In each case they present a battery of evidence showing that increases in the minimum wage lead to increases in pay, but no loss in jobs. A distinctive feature of Card and Krueger's research is the use of empirical methods borrowed from the natural sciences, including comparisons between the "treatment" and "control" groups formed when the minimum wage rises for some workers but not for others. In addition, the authors critically reexamine the previous literature on the minimum wage and find that it, too, lacks support for the claim that a higher minimum wage cuts jobs. Finally, the effects of the minimum wage on family earnings, poverty outcomes, and the stock market valuation of low-wage employers are documented. Overall, this book calls into question the standard model of the labor market that has dominated economists' thinking on the minimum wage. In addition, it will shift the terms of the debate on the minimum wage in Washington and in state legislatures throughout the country. With a new preface discussing new data, Myth and Measurement continues to shift the terms of the debate on the minimum wage.
Download or read book Myth and Measurement written by David Edward Card and published by . This book was released on 1995 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors present a powerful new challenge to the conventional view that higher minimum wages reduce jobs for low-wage workers. A distinctive feature of their research is the use of empirical methods borrowed from the natural sciences, including comparisons between the "treatment" and "control" groups formed when minimum wage rises for some workers but not for others. Line drawings.
Download or read book Empirical studies on the effect of the minimum wage Why are empirical studies of the minimum wage in conflict written by and published by GRIN Verlag. This book was released on 2024-07-03 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2018 in the subject Business economics - Economic Policy, grade: 1,3, Otto-von-Guericke-University Magdeburg (Wirtschaftswissenschaften), language: English, abstract: The minimum wage is an often discussed topic between economists and politicians. The introduction of the minimum wage in Germany as well as in other countries leads to the emergence of new questions. Point of views on the consequences of the minimum wage differ greatly. Supporters of the minimum wage claim that the wage leads to an improvement in the well-being of low income families. Furthermore, they support the view that the introduction of the minimum wage diminishes the distance between high and low income families. On the contrary, opponents argue that the minimum wage cannot reduce inequality in low income families as the correlation between low-wage workers and their families is not strong enough. The opposed view declares that the minimum wage would target families among the entire distribution of incomes resulting in a target inefficiency and lower demand for labor and therefore higher unemployment. Empirical research tries to evaluate the contrary discussed consequences in order to derive a conclusion on the effects of employment, income distribution, employment hours and other factors affected by a minimum wage. Some researchers infer that the minimum wage leads to the reduction of employment of low-wage workers, while other experiments conclude that the minimum wage does not have any negative employment effects and might even boost employment. Therefore, the aim of this paper is to evaluate why empirical research ascertains different point of views on the minimum wage and which factors play an important role in the development and evaluation of the experiments. Hence, this paper examines the following research question “Why are empirical studies of the minimum wage in conflict?”.
Download or read book The Minimum Wage and Labor Market Outcomes written by Christopher J. Flinn and published by MIT Press. This book was released on 2011-02-04 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The introduction of a search and bargaining model to assess the welfare effects of minimum wage changes and to determine an “optimal” minimum wage. In The Minimum Wage and Labor Market Outcomes, Christopher Flinn argues that in assessing the effects of the minimum wage (in the United States and elsewhere), a behavioral framework is invaluable for guiding empirical work and the interpretation of results. Flinn develops a job search and wage bargaining model that is capable of generating labor market outcomes consistent with observed wage and unemployment duration distributions, and also can account for observed changes in employment rates and wages after a minimum wage change. Flinn uses previous studies from the minimum wage literature to demonstrate how his model can be used to rationalize and synthesize the diverse results found in widely varying institutional contexts. He also shows how observed wage distributions from before and after a minimum wage change can be used to determine if the change was welfare-improving. More ambitiously, and perhaps controversially, Flinn proposes the construction and formal estimation of the model using commonly available data; model estimates then enable the researcher to determine directly the welfare effects of observed minimum wage changes. This model can be used to conduct counterfactual policy experiments—even to determine “optimal” minimum wages under a variety of welfare metrics. The development of the model and the econometric theory underlying its estimation are carefully presented so as to enable readers unfamiliar with the econometrics of point process models and dynamic optimization in continuous time to follow the arguments. Although most of the book focuses on the case where only the unemployed search for jobs in a homogeneous labor market environment, later chapters introduce on-the-job search into the model, and explore its implications for minimum wage policy. The book also contains a chapter describing how individual heterogeneity can be introduced into the search, matching, and bargaining framework.
Download or read book Is there any relationship between minimum wage and employment written by David Bravo and published by . This book was released on 1998 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effects of the Minimum Wage on Employment written by Marvin H. Kosters and published by American Enterprise Institute. This book was released on 1996 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Clinton administration has claimed its proposal to increase the minimum wage would not affect employment; other research supports that a higher minimum wage means fewer jobs.
Download or read book Minimum Wages written by David Neumark and published by MIT Press. This book was released on 2008 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive review of evidence on the effect of minimum wages on employment, skills, wage and income distributions, and longer-term labor market outcomes concludes that the minimum wage is not a good policy tool.
Download or read book What Does the Minimum Wage Do written by Dale Belman and published by W.E. Upjohn Institute. This book was released on 2014-07-07 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: Belman and Wolfson perform a meta-analysis on scores of published studies on the effects of the minimum wage to determine its impacts on employment, wages, poverty, and more.
Download or read book Minimum Wages and Employment written by David Neumark and published by Now Publishers Inc. This book was released on 2007 with total page 1 pages. Available in PDF, EPUB and Kindle. Book excerpt: "We review the burgeoning literature on the employment effects of minimum wages -- in the United States and other countries -- that was spurred by the new minimum wage research beginning in the early 1990s. Our review indicates that there is a wide range of existing estimates and, accordingly, a lack of consensus about the overall effects on low-wage employment of an increase in the minimum wage. However, the oft-stated assertion that recent research fails to support the traditional view that the minimum wage reduces the employment of low-wage workers is clearly incorrect. A sizable majority of the studies surveyed in this monograph give a relatively consistent (although not always statistically significant) indication of negative employment effects of minimum wages. In addition, among the papers we view as providing the most credible evidence, almost all point to negative employment effects, both for the United States as well as for many other countries. Two other important conclusions emerge from our review. First, we see very few -- if any -- studies that provide convincing evidence of positive employment effects of minimum wages, especially from those studies that focus on the broader groups (rather than a narrow industry) for which the competitive model predicts disemployment effects. Second, the studies that focus on the least-skilled groups provide relatively overwhelming evidence of stronger disemployment effects for these groups"--Forschungsinstitut zur Zukunft der Arbeit web site.
Download or read book Making the Minimum Wage Work written by Steve Calandrillo and published by . This book was released on 2019 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the passage of the Fair Labor Standards Act in 1938, Congress mandated a federal “living wage” in order to “maintain the minimum standard of living necessary for the health, efficiency, and general well-being of workers.” Advocates have long insisted that increases in the minimum wage result in a net gain to employees' standard of living. Critics have countered that those gains come at the expense of higher prices and shrinking overall employment numbers, leaving a new class of potential workers out in the cold.This Article synthesizes the empirical economic impact data from minimum wage increases over the past several decades and compares the results to the recent aggressive efforts being made at the local level in major cities like Seattle, Chicago, Los Angeles and San Francisco. Economic analysis reveals that while employment losses were relatively significant from raises in the minimum wage increases thirty years ago, those job losses were much smaller with subsequent wage hikes in the past two decades - i.e., the net gains to the working class have outweighed the costs. This Article offers theories to explain why that is so: for one, employees are more productive due to technological advancements than they were decades ago, and second, the federal minimum has fallen further and further behind the average national wage (so that increases affect relatively few workers). This Article analyzes whether the same net benefits to the working class are likely to accrue with the very recent push to a $15 minimum wage in cities like Seattle and San Francisco and major states like New York and California. The initial data paint a cautiously optimistic picture, indicating that job losses (and product-price increases) from these aggressive minimum wage laws have not been prohibitive, but that they do exist and are certainly worth monitoring. Finally, this Article proposes several normative policy mechanisms to facilitate a smoother transition to a newly revamped minimum wage nationwide.
Download or read book Employment Effects of Minimum Wage Rates written by John M. Peterson and published by American Enterprise Institute Press. This book was released on 1969 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unemployment Effects of Minimum Wages written by Jacob Mincer and published by . This book was released on 1976 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Empirical Analysis of Localized Minimum Wage Effects on Local Unemployment Rates written by Joseph Carl Guy and published by . This book was released on 2020 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis examines the association between localized minimum wages and the unemployment rate. It focuses on the county-level unemployment rate and minimum wages set by local municipalities. We examine data from 2010 through 2017 for 35 cities that have set minimum wages higher than the state or federally mandated level across the states of Arizona, California, Minnesota, and New York. We created a panel data set using information from the Federal Reserve of St. Louis website and the Area Health Resource File. We estimated panel data models to assess the potential impact of locally set minimum wages on local unemployment rates. We found a negative association between local unemployment rates and locally set minimum wages that are higher than the ones set by the state or federal authorities. Our results suggest that policymakers may need to put more weight on local demographic and economic indicators when setting a generalized state and/or federal level minimum wage.
Download or read book Effects of the Minimum Wage on Youth Employment and Unemployment written by C. K. Brown and published by . This book was released on 1980 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Empirical Analysis of the Employment and Labour Supply Effects of the Minimum Wage in Canada 1975 79 written by Joseph Schaafsma and published by . This book was released on 1982 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Introducing Minimum Wages in Germany Employment Effects in a Post Keynesian Perspective written by Arne Heise and published by . This book was released on 2018 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: There has been a long discussion about the employment impact of minimum wages and this discussion has recently been renewed with the introduction of an economy-wide, binding minimum wage in Germany in 2015. In traditional reasoning, based on the allocational approach of modern labour market economics, it has been suggested that the impact is clearly negative on the assumption of a competitive labour market and clearly positive on the assumption of a monopsonistic labour market. Unfortunately, both predictions conflict with the empirical findings, which do not show a clear-cut impact of significant size in any direction. As an alternative, a Post Keynesian two-sector model including an employment market is presented here. Its most likely prediction of a negligible employment effect and a sectoral shift is tested against the German case of an introduction of a statutory minimum wage in 2015. Despite substantial wage increases in the low wage sector, our empirical analysis reveals ver
