By David Neumark, William Wascher
Minimal Wages and Employment specializes in the ''new minimal salary research.'' this is often the 1st complete overview of the literature long ago fifteen years. It contains the preliminary around of the hot minimal salary study at the employment results of the minimal salary, significant conceptual and empirical matters that arose out of that learn, fresh raises in minimal salary legislation, and the empirical study at the employment results of the minimal salary in different international locations. minimal Wages and Employment presents an evaluation of different versions of the hard work marketplace. It deals basic conclusions concerning the results of the minimal salary on employment which are proper to policymakers, declaring in what context and for which staff the minimal salary could have results. eventually, via offering a entire evaluation of the newer minimal salary literature, the authors clarify the variety of ends up in the literature, establish assets of alterations in those effects, and be certain what conclusions should be drawn from the literature.
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We next summarize some of the key issues discussed in these follow-on papers. 1 The Appropriate Measure of the Minimum Wage In their comment on our original paper, Card et al. (1994) raised important questions about the appropriate measure of the minimum wage. As indicated earlier, we had followed the previous literature in using a 19 20 Issues Raised in Subsequent Research variant of the Kaitz index that included state minimum wages as our measure of the effective minimum wage, while Card (1992b) had used the percentage of teenagers earning between the old and new minimum wage just prior to the implementation of the new minimum (the fraction affected variable).
11 The results show a positive effect of the minimum wage on employment at high frequencies and a negative effect of the minimum wage on employment at low frequencies. 25 in Canada, noting that “this result is driven by low-frequency variation in the data” (p. 345). S. S. literature to demonstrate – through equations that relate estimated coefficients for alternative estimators to the implied elasticities at different frequencies – that their conclusions explain the different findings for the United States equally well.
As a result, the specification of a model for the employment of all teenagers should also include variables that capture exogenous shifts in the labor supply curve, including exogenous changes in the school enrollment rate. Regarding the measurement of school enrollment, the definition of schooling used in our original paper was indeed too narrow. However, substituting broader measures of enrollment that do not exclude employed teenagers led to only minor differences in the results. 3. 11, toward the low end of the range we reported originally.