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City Minimum Wages And Spatial Equilibrium Effects
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Book Synopsis City Minimum Wages and Spatial Equilibrium Effects by : Jorge Pérez Pérez
Download or read book City Minimum Wages and Spatial Equilibrium Effects written by Jorge Pérez Pérez and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the effect of minimum wage changes on spatial equilibriums in local labor markets. Using data for the U.S. and minimum wage variation across state borders, I analyze how commuting, residence, and employment locations change in response to local minimum wage changes. I find that areas where the minimum wage increases receive fewer low-wage commuters. I formulate a spatial equilibrium model and calculate counterfactuals with a higher minimum wage for U.S. cities considering an increase. For small minimum wage increases, most counties would receive higher lowwage commuting and have fewer low-wage residents. As minimum wage increases are larger, there are higher low-wage commuting reductions driven by employment relocation.
Book Synopsis Minimum Wages and Spatial Equilibrium by : Joan Monras
Download or read book Minimum Wages and Spatial Equilibrium written by Joan Monras and published by . This book was released on 2015 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Often, minimum wage laws are decided at the state or regional level, and even when not, federal level increases are only binding in certain states. This has been used in previous literature to evaluate the effects of minimum wages on earnings and employment levels. This paper introduces a spatial equilibrium model to think about the seemingly conflicting findings of this previous literature. The model shows that the introduction of minimum wages can lead to an increase or a decrease in population depending on the local labor demand elasticity and on how unemployment benefits are financed.The paper provides empirical evidence consistent with the model. On average, increases in minimum wages lead to increases in average wages and decreases in employment. The low-skilled local labor demand elasticity is estimated to be above 1, which in the model is a necessary condition for the migration responses found in the data. Low-skilled workers, who are presumably the target of the policy, tend to leave or avoid moving to the regions that increase minimum wages.
Book Synopsis Distributional Effects of Local Minimum Wages by : Petra E. Todd
Download or read book Distributional Effects of Local Minimum Wages written by Petra E. Todd and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops and estimates a spatial general equilibrium job search model to study the effects of local and universal (federal) minimum wage policies on employment, wages, job postings, vacancies, migration/commuting, and welfare. In the model, workers, who differ in terms of location and education levels, search for jobs locally and in a neighboring area. If they receive remote offers, they decide whether to migrate or commute. Firms post vacancies in multiple locations and make offers subject to minimum wage constraints. The model is estimated using multiple databases, including the American Community Survey (ACS) and Quarterly Workforce Indicators (QWI), and exploiting minimum wage variation across state borders as well as time series variation (2005-2015). Results show that local minimum wage increases lead firms to post fewer wage offers in both local and neighboring areas and lead lower education workers to reduce interstate commuting. An out-of-sample validation finds that model forecasts of commuting responses to city minimum wage hikes are similar to patterns in the data. A welfare analysis shows how minimum wage effects vary by worker type and with the minimum wage level. Low skill workers benefit from local wage increases up to $10.75/hour and high skill workers up to $12.25/hour. The greatest per capital welfare gain (including both workers and firms) is achieved by a universal minimum wage increase of $12.75/hour.
Book Synopsis Distributional Effects of Local Minimum Wage Hikes by : Weilong Zhang
Download or read book Distributional Effects of Local Minimum Wage Hikes written by Weilong Zhang and published by . This book was released on 2019 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops and estimates a spatial general equilibrium job search model to study the effects of local and universal (federal) minimum wage policies. In the model, firms post vacancies in multiple locations. Workers, who are heterogeneous in terms of location and education types, engage in random search and can migrate or commute in response to job offers. I estimate the model by combining multiple databases including the American Community Survey (ACS) and Quarterly Workforce Indicators (QWI). The estimated model is used to analyze how minimum wage policies affect employment, wages, job postings, vacancies, migration/commuting, and welfare. Empirical results show that minimum wage increases in local county lead to an exit of low type (education12 years) workers and an influx of high type workers (education = 12 years), which generates negative externalities for workers in neighboring areas. I use the model to simulate the effects of a range of minimum wages. Minimum wage increases up to $14/hour increase the welfare of high type workers but lower welfare of low type workers, expanding inequality. Increases in excess of $14/hour decrease welfare for all workers. I further evaluate two counterfactual policies: restricting labor mobility and preempting local minimum wage laws. For a certain range of minimum wages, both policies have negative impacts on the welfare of high type workers, but beneficial effects for low type workers.
Book Synopsis Employment Effects of Minimum Wage Rates by : John M. Peterson
Download or read book Employment Effects of Minimum Wage Rates written by John M. Peterson and published by American Enterprise Institute Press. This book was released on 1969 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Impact on Employment in Cities when the Minimum Wage is Increased by : Paul Jepsen
Download or read book Impact on Employment in Cities when the Minimum Wage is Increased written by Paul Jepsen and published by . This book was released on 2017 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1938 the first minimum wage was imposed (Fair Labor Standards Act) in the United States. It was $0.25 an hour. It had an immediate impact on low wageworkers across the country, particularly African-American women employed in the tobacco industry. Their wages went from earning a piecework rate of about $0.16 an hour to $0.25 an hour with their wages reaching $0.40 an hour by 1945. It was a win-win situation for the tobacco industry and its workers because the industry continued to grow. Theory predicts that employment should decrease if wages are raised higher than the equilibrium wage rate, but the evidence is mixed. Many researchers either show an increase in employment for low wage industries or no change although that is not universal. The Federal government has not raised its minimum wage rate of $7.25 an hour since 2009. The city of Seattle WA approved a set of minimum wage increases on July 2, vi 2014 beginning in April 2015 at $9.47 an hour and reaching $15.00 an hour for employers of over 500 employees in January 2017. This study looks for employment impacts to restaurant workers during the period January 2014 to August 2015 for Seattle and other cities across the country where there was a minimum wage increase as well as for cities where the minimum wage remained at the Federal level. Although Seattle has been the most aggressive in raising its minimum wage, there is no evidence that there was any impact on its employment over the period January 2014 to August 2016, and overall that is also true for the other cities in the study.
Book Synopsis Labour Economics by : Bernd Fitzenberger
Download or read book Labour Economics written by Bernd Fitzenberger and published by Walter de Gruyter GmbH & Co KG. This book was released on 2016-11-21 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :National Academies of Sciences, Engineering, and Medicine Publisher :National Academies Press ISBN 13 :0309444454 Total Pages :643 pages Book Rating :4.3/5 (94 download)
Book Synopsis The Economic and Fiscal Consequences of Immigration by : National Academies of Sciences, Engineering, and Medicine
Download or read book The Economic and Fiscal Consequences of Immigration written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-07-13 with total page 643 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic and Fiscal Consequences of Immigration finds that the long-term impact of immigration on the wages and employment of native-born workers overall is very small, and that any negative impacts are most likely to be found for prior immigrants or native-born high school dropouts. First-generation immigrants are more costly to governments than are the native-born, but the second generation are among the strongest fiscal and economic contributors in the U.S. This report concludes that immigration has an overall positive impact on long-run economic growth in the U.S. More than 40 million people living in the United States were born in other countries, and almost an equal number have at least one foreign-born parent. Together, the first generation (foreign-born) and second generation (children of the foreign-born) comprise almost one in four Americans. It comes as little surprise, then, that many U.S. residents view immigration as a major policy issue facing the nation. Not only does immigration affect the environment in which everyone lives, learns, and works, but it also interacts with nearly every policy area of concern, from jobs and the economy, education, and health care, to federal, state, and local government budgets. The changing patterns of immigration and the evolving consequences for American society, institutions, and the economy continue to fuel public policy debate that plays out at the national, state, and local levels. The Economic and Fiscal Consequences of Immigration assesses the impact of dynamic immigration processes on economic and fiscal outcomes for the United States, a major destination of world population movements. This report will be a fundamental resource for policy makers and law makers at the federal, state, and local levels but extends to the general public, nongovernmental organizations, the business community, educational institutions, and the research community.
Book Synopsis Cities, Agglomeration, and Spatial Equilibrium by : Edward Ludwig Glaeser
Download or read book Cities, Agglomeration, and Spatial Equilibrium written by Edward Ludwig Glaeser and published by Oxford University Press. This book was released on 2008 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: 220 million Americans crowd together in the 3% of the country that is urban. 35 million people live in the vast metropolis of Tokyo, the most productive urban area in the world. The central city of Mumbai alone has 12 million people, and Shanghai almost as many. We choose to live cheek by jowl, in a planet with vast amounts of space. Yet despite all of the land available to us, we choose to live in proximity to cities. Using economics to understand this phenomenon, the urban economist uses the tools of economic theory and empirical data to explain why cities exist and to analyze urban issues such as housing, education, crime, poverty and social interaction. Drawing on the success of his Lindahl lectures, Edward Glaeser provides a rigorous account of his research and unique thinking on cities. Using a series of simple models and economic theory, Glaeser illustrates the primary features of urban economics including the concepts of spatial equilibrium and agglomeration economies. Written for a mathematically inclined audience with an interest in urban economics and cities, the book is written to be accessible to theorists and non-theorists alike and should provide a basis for further empirical work.
Book Synopsis What Does the Minimum Wage Do? by : Dale Belman
Download or read book What Does the Minimum Wage Do? written by Dale Belman and published by W.E. Upjohn Institute. This book was released on 2014-07-07 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: Belman and Wolfson perform a meta-analysis on scores of published studies on the effects of the minimum wage to determine its impacts on employment, wages, poverty, and more.
Book Synopsis Myth and Measurement by : David Card
Download or read book Myth and Measurement written by David Card and published by Princeton University Press. This book was released on 2015-12-22 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: From David Card, winner of the Nobel Prize in Economics, and Alan Krueger, a provocative challenge to conventional wisdom about the minimum wage David Card and Alan B. Krueger have already made national news with their pathbreaking research on the minimum wage. Here they present a powerful new challenge to the conventional view that higher minimum wages reduce jobs for low-wage workers. In a work that has important implications for public policy as well as for the direction of economic research, the authors put standard economic theory to the test, using data from a series of recent episodes, including the 1992 increase in New Jersey's minimum wage, the 1988 rise in California's minimum wage, and the 1990–91 increases in the federal minimum wage. In each case they present a battery of evidence showing that increases in the minimum wage lead to increases in pay, but no loss in jobs. A distinctive feature of Card and Krueger's research is the use of empirical methods borrowed from the natural sciences, including comparisons between the "treatment" and "control" groups formed when the minimum wage rises for some workers but not for others. In addition, the authors critically reexamine the previous literature on the minimum wage and find that it, too, lacks support for the claim that a higher minimum wage cuts jobs. Finally, the effects of the minimum wage on family earnings, poverty outcomes, and the stock market valuation of low-wage employers are documented. Overall, this book calls into question the standard model of the labor market that has dominated economists' thinking on the minimum wage. In addition, it will shift the terms of the debate on the minimum wage in Washington and in state legislatures throughout the country. With a new preface discussing new data, Myth and Measurement continues to shift the terms of the debate on the minimum wage.
Book Synopsis Agglomeration Economics by : Edward L. Glaeser
Download or read book Agglomeration Economics written by Edward L. Glaeser and published by University of Chicago Press. This book was released on 2010-04-15 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: When firms and people are located near each other in cities and in industrial clusters, they benefit in various ways, including by reducing the costs of exchanging goods and ideas. One might assume that these benefits would become less important as transportation and communication costs fall. Paradoxically, however, cities have become increasingly important, and even within cities industrial clusters remain vital. Agglomeration Economics brings together a group of essays that examine the reasons why economic activity continues to cluster together despite the falling costs of moving goods and transmitting information. The studies cover a wide range of topics and approach the economics of agglomeration from different angles. Together they advance our understanding of agglomeration and its implications for a globalized world.
Book Synopsis Keys to the City by : Michael Storper
Download or read book Keys to the City written by Michael Storper and published by Princeton University Press. This book was released on 2013-07-21 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do some cities grow economically while others decline? Why do some show sustained economic performance while others cycle up and down? In Keys to the City, Michael Storper, one of the world's leading economic geographers, looks at why we should consider economic development issues within a regional context--at the level of the city-region--and why city economies develop unequally. Storper identifies four contexts that shape urban economic development: economic, institutional, innovational and interactional, and political. The book explores how these contexts operate and how they interact, leading to developmental success in some regions and failure in others. Demonstrating that the global economy is increasingly driven by its major cities, the keys to the city are the keys to global development. In his conclusion, Storper specifies eight rules of economic development targeted at policymakers. Keys to the City explains why economists, sociologists, and political scientists should take geography seriously.
Download or read book Minimum Wages written by David Neumark and published by MIT Press. This book was released on 2008 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive review of evidence on the effect of minimum wages on employment, skills, wage and income distributions, and longer-term labor market outcomes concludes that the minimum wage is not a good policy tool.
Book Synopsis Global Wage Report 2020-21 by : INTERNATIONAL LABOUR OFFICE.
Download or read book Global Wage Report 2020-21 written by INTERNATIONAL LABOUR OFFICE. and published by . This book was released on 2020-12-02 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This ILO flagship report examines the evolution of real wages around the world, giving a unique picture of wage trends globally and by region. The 2020-21 edition analyses the relationship of minimum wages and inequality, as well as the wage impacts of the COVID-19 crisis. The 2020-21 edition also reviews minimum wage systems across the world and identifies the conditions under which minimum wages can reduce inequality. The report presents comprehensive data on levels of minimum wages, their effectiveness, and the number and characteristics of workers paid at or below the minimum. The report highlights how adequate minimum wages, statutory or negotiated, can play a key role in a human-centred recovery from the crisis
Download or read book Employment and Wages written by and published by . This book was released on 1963 with total page 888 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Urban Labor Economics by : Yves Zenou
Download or read book Urban Labor Economics written by Yves Zenou and published by Cambridge University Press. This book was released on 2009-04-27 with total page 525 pages. Available in PDF, EPUB and Kindle. Book excerpt: Simple models of urban search matching -- Extensions of urban search-matching models -- Non-monocentric cities and search-matching -- Simple models of urban efficiency wages -- Extensions of urban efficiency wage models -- Non-monocentric cities and efficiency wages -- The spatial mismatch hypothesis : a search-matching approach -- The spatial mismatch hypothesis : an efficiency-wage approach -- Peer effects, social networks, and labor market outcomes in cities -- General conclusion -- Appendix A: basic urban economics -- Appendix B: Poisson process and derivation of Bellman equations -- Appendix C: The Harris-Todaro model.
