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Opinion | Mourning the Loss of Alan Krueger
Alan’s most influential, paradigm-shifting work was his 1992 study with David Card on the effects of minimum-wage increases.

Before Card and Krueger, most economists just assumed that raising the minimum wage leads to lower employment. But Card and Krueger realized that this was a proposition you can test. Their initial study compared employment in New Jersey and Pennsylvania before and after New Jersey raised its minimum wage. And they found no adverse effect on employment — if anything, a small rise in New Jersey relative to its neighbor.

This study opened a new frontier in economic research. Economics is always bedeviled by the lack of controlled experiments; there are so many things going on in the economy that it’s hard to tell what’s causing what. But unilateral state wage hikes amount to natural experiments that tell you far more than standard economic methods.

Furthermore, this was a method that could be replicated many times, and has been over the years, right up to the recent round of minimum wage increases in a number of cities. And the preponderance of the results have confirmed Card and Krueger’s initial finding: raising minimum wages has far less negative impact on jobs than standard economics would have predicted.

This has implications that go far beyond minimum wages themselves. What Card, Krueger and the research that follows tell us is that labor markets are a lot more complicated than we thought, that market power matters a lot and that there may be much more room for public policy to raise wages in general than Econ 101 would have it.

This paper alone would secure Alan Krueger’s reputation as one of the greatest labor economists ever. But he did far more, on everything from growth and the environment to the effects of computers on wages — and he was a public servant too. He will be sorely missed.
AlanKrueger  politics  economics  research  minimumwage 
4 days ago by jtyost2
Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania [PDF]
“On April 1, 1992, New Jersey’s minimum wage rose from $4.25 to $5.05 per hour. To evaluate the impact of the law, we surveyed 410 fast-food restaurants in New Jersey and eastern Pennsylvania before and after the rise. Comparisons of employment growth at stores in New Jersey and Pennsylvania (where the minimum wage was constant)provide simple estimates of the effect of the higher minimum wage. We also compare employment changes at stores in New Jersey that were initially paying high wages (above $5) to the changes at lower-wage stores. We find no indication that the rise in the minimum wage reduced employment.”
pdf  minimum  wage  minimumwage  studies  newjersey  pennsylvania  1992 
6 days ago by handcoding
Ballinger's bill to roll back minimum wage increase amended, could be run next week | Arkansas Blog
His initial proposal would have exempted people younger than 18; all schools, public or private; nonprofit organizations; and employers with fewer than 50 people (under current law, employers with fewer than four employees are exempt).

As amended, Ballinger's bill still exempts those younger than 18 but adds two new categories of exempt employees who could be paid less than the state minimum wage: those convicted of a felony and people with developmental disabilities.
minimumwage 
17 days ago by brycecovert
Ivanka Trump says she backs minimum wage -- but not handouts for those ‘unwilling to work’ | Fox News
“I support a minimum wage. I do not however believe in a minimum guarantee for people ‘unwilling to work’ which was the question asked of me.”
Ivanka  minimumwage  UBI 
24 days ago by brycecovert
The $15 Minimum Wage Doesn’t Just Improve Lives. It Saves Them. - The New York Times
Moneyquoute: “A living wage is an antidepressant. It is a sleep aid. A diet. A stress reliever. It is a contraceptive, preventing teenage pregnancy. It prevents premature death. It shields children from neglect.”
minimumwage  labour 
4 weeks ago by peter

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