Myth and Measurement

Myth and Measurement

Author: David Card

Publisher: Princeton University Press

Published: 2015-12-22

Total Pages: 455

ISBN-13: 1400880874

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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.


What Does the Minimum Wage Do?

What Does the Minimum Wage Do?

Author: Dale Belman

Publisher: W.E. Upjohn Institute

Published: 2014-07-07

Total Pages: 489

ISBN-13: 0880994568

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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.


Handbook of Labor Economics

Handbook of Labor Economics

Author: Orley Ashenfelter

Publisher: Elsevier

Published: 2010-12-09

Total Pages: 863

ISBN-13: 0444534504

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A guide to the continually evolving field of labour economics.


Law and Employment

Law and Employment

Author: James J. Heckman

Publisher: University of Chicago Press

Published: 2007-11-01

Total Pages: 585

ISBN-13: 0226322858

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Law and Employment analyzes the effects of regulation and deregulation on Latin American labor markets and presents empirically grounded studies of the costs of regulation. Numerous labor regulations that were introduced or reformed in Latin America in the past thirty years have had important economic consequences. Nobel Prize-winning economist James J. Heckman and Carmen Pagés document the behavior of firms attempting to stay in business and be competitive while facing the high costs of complying with these labor laws. They challenge the prevailing view that labor market regulations affect only the distribution of labor incomes and have little or no impact on efficiency or the performance of labor markets. Using new micro-evidence, this volume shows that labor regulations reduce labor market turnover rates and flexibility, promote inequality, and discriminate against marginal workers. Along with in-depth studies of Colombia, Peru, Brazil, Argentina, Chile, Uruguay, Jamaica, and Trinidad, Law and Employment provides comparative analysis of Latin American economies against a range of European countries and the United States. The book breaks new ground by quantifying not only the cost of regulation in Latin America, the Caribbean, and in the OECD, but also the broader impact of this regulation.


Minimum Wages

Minimum Wages

Author: David Neumark

Publisher: MIT Press

Published: 2008

Total Pages: 389

ISBN-13: 0262141027

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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.


The Contribution of the Minimum Wage to U.S. Wage Inequality Over Three Decades

The Contribution of the Minimum Wage to U.S. Wage Inequality Over Three Decades

Author: David H. Autor

Publisher: DIANE Publishing

Published: 2010

Total Pages: 67

ISBN-13: 143798018X

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We reassess the effect of state and federal minimum wages on U.S. earnings inequality using two additional decades of data and far greater variation in minimum wages than was available to earlier studies. We argue that prior literature suffers from two sources of bias and propose an IV strategy to address both. We find that the minimum wage reduces inequality in the lower tail of the wage distribution (the 50/10 wage ratio), but the impacts are typically less than half as large as those reported elsewhere and are almost negligible for males. Nevertheless, the estimated effects extend to wage percentiles where the minimum is nominally non-binding, implying spillovers. However, we show that spillovers and measurement error (absent spillovers) have similar implications for the effect of the minimum on the shape of the lower tail of the measured wage distribution. With available precision, we cannot reject the hypothesis that estimated spillovers to non-binding percentiles are due to reporting artifacts. Accepting this null, the implied effect of the minimum wage on the actual wage distribution is smaller than the effect of the minimum wage on the measured wage distribution.


The Minimum Wage

The Minimum Wage

Author: Noah Berlatsky

Publisher: Greenhaven Publishing

Published: 2012

Total Pages: 0

ISBN-13: 9780737757415

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Each title in the highly acclaimed Opposing Viewpoints series explores a specific issue by placing expert opinions in a unique pro/con format; the viewpoints are selected from a wide range of highly respected and often hard-to-find publications.; Articles collected in this edition of the popular Opposing Viewpoints series discuss the minimum wage. The title includes a balanced selection of articles that address the impact of the minimum wage on workers, businesses, and the overall economy. Include; "Each volume in the Opposing Viewpoints Series could serve as a model not only providing access to a wide diversity of opinions, but also stimulating readers to do further research for group discussion and individual interest. Both shrill and moderate, th"


Wage-Led Growth

Wage-Led Growth

Author: Engelbert Stockhammer

Publisher: Springer

Published: 2013-12-03

Total Pages: 329

ISBN-13: 1137357932

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This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.


The Economic and Fiscal Consequences of Immigration

The Economic and Fiscal Consequences of Immigration

Author: National Academies of Sciences, Engineering, and Medicine

Publisher: National Academies Press

Published: 2017-07-13

Total Pages: 643

ISBN-13: 0309444454

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The Economic and Fiscal Consequences of Immigration finds that the long-term impact of immigration on the wages and employment of native-born workers overall is very small, and that any negative impacts are most likely to be found for prior immigrants or native-born high school dropouts. First-generation immigrants are more costly to governments than are the native-born, but the second generation are among the strongest fiscal and economic contributors in the U.S. This report concludes that immigration has an overall positive impact on long-run economic growth in the U.S. More than 40 million people living in the United States were born in other countries, and almost an equal number have at least one foreign-born parent. Together, the first generation (foreign-born) and second generation (children of the foreign-born) comprise almost one in four Americans. It comes as little surprise, then, that many U.S. residents view immigration as a major policy issue facing the nation. Not only does immigration affect the environment in which everyone lives, learns, and works, but it also interacts with nearly every policy area of concern, from jobs and the economy, education, and health care, to federal, state, and local government budgets. The changing patterns of immigration and the evolving consequences for American society, institutions, and the economy continue to fuel public policy debate that plays out at the national, state, and local levels. The Economic and Fiscal Consequences of Immigration assesses the impact of dynamic immigration processes on economic and fiscal outcomes for the United States, a major destination of world population movements. This report will be a fundamental resource for policy makers and law makers at the federal, state, and local levels but extends to the general public, nongovernmental organizations, the business community, educational institutions, and the research community.