it's just empirically difficult to measure what exactly the minimum wage does because the situation simply can't be measured ceteris paribus in reality. and because there are so many circumstances that can affect the outcome, I think it's very helpful to have simple models.
"Card and Krueger (1994) took this approach to compare fast food workers in New Jersey and Pennsylvania, and found that, if anything, the minimum wage increased unemployment."
I thought their findings were that minimum wage did not increase unemployment.
it's just empirically difficult to measure what exactly the minimum wage does because the situation simply can't be measured ceteris paribus in reality. and because there are so many circumstances that can affect the outcome, I think it's very helpful to have simple models.
Is there a typo here?
"Card and Krueger (1994) took this approach to compare fast food workers in New Jersey and Pennsylvania, and found that, if anything, the minimum wage increased unemployment."
I thought their findings were that minimum wage did not increase unemployment.