A few minimum wage links to use in my guest lecture/discussion with Professor Reglin’s classes tomorrow:
- The assigned article/editorial from NY Times: Case for a Higher Minimum Wage
- An accessible description of the original, path-breaking Card-Kreuger study: http://nyti.ms/18o2f89
- Raising the minimum wage reduces poverty and tends to raise all incomes, including household incomes not dependent on the minimum wage directly. At the poverty level, elasticity of minimum wage increase to poverty rate is -0.07 (a 10 % increase in min wage reduces poverty by 0.7 percent) http://cepr.net/blogs/cepr-blog/minimum-wage-and-poverty
- Negative employment effects of minimum wage increases are difficult to find empirically. If they exist, the effect is swamped by larger, more significant macro economic & growth effects: http://mic.com/articles/92983/here-s-what-is-happening-to-the-states-that-increased-minimum-wage-this-year#.1JgRZUBox
- Does Higher Minimum Wage Reduce Jobs?
Arindrajit Dube: Research shows raising minimum wage does not impact job loss in short or long term. – Interview about the county-pair and city-pair studies following Card-Kreuger.
- More on the post Card-Kreuger studies All Economics Is Local
- Who Really Gets the Minimum Wage?
- Center for American Progress graphic https://twitter.com/amprog/status/511212830607962113
- Menzie Chinn analysis of Wisconsin: http://econbrowser.com/archives/2014/05/demographic-incidence-of-a-wisconsin-minimum-wage-increase
- A redistribution-income & political inequality argument for raising minimum wage: angrybearblog.com/2014/02/time-to-end-redistribution-upwards-minimum-wage-increases-would-boost-economy-and-lift-all-boats-2.html
- Minimum wage vs. housing costs in major cities: http://www.huffingtonpost.com/gino-zahnd/one-bedroom-rents_b_7623948.html?
- Additional benefits of raising minimum wage: eliminates projected Social Security shortfall vs. promised benefits in 2033.