Note also that labor is competing with capital. And a higher minimum wage can still cause unemployment if the firm hires robots that are more expensive than market wage but cheaper than the new minimum wage.
Iirc Card and Krueger also released a publication in the 2000 using another dataset, maybe BLS, and found no effects. Still, a enormous change from the original 0.7 elasticity implying big positive employment effects from minimum wage hikes.
The best recent paper seems to be “what’s across the border..” by Neumark which finds Dube’s 2010 findings to not be robust to both a simply higher sample size and multi-state commuting zones that fit Dube’s own standards better than paired counties iirc. Dube is releasing a reply soon.
I tried pulling both papers in stata but the version my school provides can’t handle all that data :(.
On the supply and demand plot, would increase outsider readership to label the axes and have a list of all parameters (preferably use words - is w "Wage($/hr)"
Note also that labor is competing with capital. And a higher minimum wage can still cause unemployment if the firm hires robots that are more expensive than market wage but cheaper than the new minimum wage.
Another banger.
Iirc Card and Krueger also released a publication in the 2000 using another dataset, maybe BLS, and found no effects. Still, a enormous change from the original 0.7 elasticity implying big positive employment effects from minimum wage hikes.
The best recent paper seems to be “what’s across the border..” by Neumark which finds Dube’s 2010 findings to not be robust to both a simply higher sample size and multi-state commuting zones that fit Dube’s own standards better than paired counties iirc. Dube is releasing a reply soon.
I tried pulling both papers in stata but the version my school provides can’t handle all that data :(.
Yep. I decided to elide much of the empirical discussion because of long and tedious it is tho lol — there are just *so many papers*
On the supply and demand plot, would increase outsider readership to label the axes and have a list of all parameters (preferably use words - is w "Wage($/hr)"