David Card and Alan B. Krueger have already made nationwide information with their pathbreaking learn at the minimal salary. right here they current a strong new problem to the normal view that larger minimal wages lessen jobs for low-wage staff. In a piece that has vital implications for public coverage in addition to for the path of monetary examine, the authors placed commonplace monetary thought to the try out, utilizing facts from a sequence of contemporary episodes, together with the 1992 raise in New Jersey's minimal salary, the 1988 upward thrust in California's minimal salary, and the 1990-91 raises within the federal minimal salary. In every one case they current a battery of proof exhibiting that raises within the minimal salary result in raises in pay, yet no loss in jobs.
a particular function of Card and Krueger's examine is using empirical equipment borrowed from the normal sciences, together with comparisons among the "treatment" and "control" teams shaped whilst the minimal salary rises for a few employees yet now not for others. furthermore, the authors severely reexamine the former literature at the minimal salary and locate that it, too, lacks aid for the declare larger minimal salary cuts jobs. eventually, the consequences of the minimal salary on relatives profits, poverty results, and the inventory marketplace valuation of low-wage employers are documented. total, this ebook calls into query the normal version of the hard work marketplace that has ruled economists' pondering at the minimal salary. furthermore, it's going to shift the phrases of the talk at the minimal salary in Washington and in kingdom legislatures through the country.
With a brand new preface discussing new info, Myth and Measurement keeps to shift the phrases of the talk at the minimal wage.
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