Does the minimum wage cause inefficient rationing?:
This paper investigates whether the minimum wage leads to inefficient job rationing. By not allowing wages to clear the labor market, the minimum wage could cause workers with low reservation wages to be rationed out while equally skilled workers with higher reservation wages are employed. This pape...
Gespeichert in:
| Beteilige Person: | |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2007
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| Schriftenreihe: | Working paper series / National Bureau of Economic Research
13012 |
| Links: | http://papers.nber.org/papers/w13012.pdf |
| Zusammenfassung: | This paper investigates whether the minimum wage leads to inefficient job rationing. By not allowing wages to clear the labor market, the minimum wage could cause workers with low reservation wages to be rationed out while equally skilled workers with higher reservation wages are employed. This paper exploits the overlapping nature of the CPS panels to more precisely identify those most affected by the minimum wage, a group I refer to as the "unskilled." I test for inefficient rationing by examining whether the reservation wages of employed unskilled workers in states where the 1990-1991 federal minimum wage increase had the largest impact rose relative to reservation wages of unskilled workers in other states. I find that reservation wages of unskilled workers in high-impact states did not rise relative to reservation wages in other states, indicating that the increase in the minimum wage did not cause jobs to be allocated less efficiently. |
| Umfang: | 49 S. graph. Darst. 22 cm |
Internformat
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| 245 | 1 | 0 | |a Does the minimum wage cause inefficient rationing? |c Erzo F. P. Luttmer |
| 264 | 1 | |a Cambridge, Mass. |b National Bureau of Economic Research |c 2007 | |
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| 490 | 1 | |a Working paper series / National Bureau of Economic Research |v 13012 | |
| 520 | 8 | |a This paper investigates whether the minimum wage leads to inefficient job rationing. By not allowing wages to clear the labor market, the minimum wage could cause workers with low reservation wages to be rationed out while equally skilled workers with higher reservation wages are employed. This paper exploits the overlapping nature of the CPS panels to more precisely identify those most affected by the minimum wage, a group I refer to as the "unskilled." I test for inefficient rationing by examining whether the reservation wages of employed unskilled workers in states where the 1990-1991 federal minimum wage increase had the largest impact rose relative to reservation wages of unskilled workers in other states. I find that reservation wages of unskilled workers in high-impact states did not rise relative to reservation wages in other states, indicating that the increase in the minimum wage did not cause jobs to be allocated less efficiently. | |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |
| 810 | 2 | |a National Bureau of Economic Research <Cambridge, Mass.> |t NBER working paper series |v 13012 |w (DE-604)BV002801238 |9 13012 | |
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| indexdate | 2024-12-20T13:23:19Z |
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| language | English |
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| spelling | Luttmer, Erzo F. P. Verfasser (DE-588)129473588 aut Does the minimum wage cause inefficient rationing? Erzo F. P. Luttmer Cambridge, Mass. National Bureau of Economic Research 2007 49 S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 13012 This paper investigates whether the minimum wage leads to inefficient job rationing. By not allowing wages to clear the labor market, the minimum wage could cause workers with low reservation wages to be rationed out while equally skilled workers with higher reservation wages are employed. This paper exploits the overlapping nature of the CPS panels to more precisely identify those most affected by the minimum wage, a group I refer to as the "unskilled." I test for inefficient rationing by examining whether the reservation wages of employed unskilled workers in states where the 1990-1991 federal minimum wage increase had the largest impact rose relative to reservation wages of unskilled workers in other states. I find that reservation wages of unskilled workers in high-impact states did not rise relative to reservation wages in other states, indicating that the increase in the minimum wage did not cause jobs to be allocated less efficiently. Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 13012 (DE-604)BV002801238 13012 http://papers.nber.org/papers/w13012.pdf kostenfrei Volltext |
| spellingShingle | Luttmer, Erzo F. P. Does the minimum wage cause inefficient rationing? |
| title | Does the minimum wage cause inefficient rationing? |
| title_auth | Does the minimum wage cause inefficient rationing? |
| title_exact_search | Does the minimum wage cause inefficient rationing? |
| title_full | Does the minimum wage cause inefficient rationing? Erzo F. P. Luttmer |
| title_fullStr | Does the minimum wage cause inefficient rationing? Erzo F. P. Luttmer |
| title_full_unstemmed | Does the minimum wage cause inefficient rationing? Erzo F. P. Luttmer |
| title_short | Does the minimum wage cause inefficient rationing? |
| title_sort | does the minimum wage cause inefficient rationing |
| url | http://papers.nber.org/papers/w13012.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT luttmererzofp doestheminimumwagecauseinefficientrationing |