The Effects of Minimum Wages on the Distribution of Changes in Regional Employment in the United States

1979 ◽  
Vol 11 (4) ◽  
pp. 381-392
Author(s):  
J W Mixon ◽  
N D Uri
Keyword(s):  
United States ◽  
Minimum Wage ◽  
Seasonal Cycle ◽  
Work Force ◽  
The United States ◽  
Minimum Wages ◽  
Employment Patterns ◽  
Short Run ◽  
Minimum Wage Legislation ◽  
The Impact

This study investigates the manner in which increases in the minimum wage have altered the distribution of employment and the sensitivity to short-run changes of employment among states in the United States. Further, by focusing on the distribution of employment and on how that distribution changes over the seasonal cycle, estimates of some aspects of the impact of the minimum wage that have not heretofore been analyzed have been developed. The evidence indicates that increases in the minimum wage over the period 1947–1976 have had a significant impact on employment patterns. Minimum-wage legislation has had the effect of decreasing the share of projected employment and increasing vulnerability to cyclical changes in employment for the group of workers most marginal to the work force—low-wage employees.

The Impact of Monetary and Fiscal Policies on the Stock Market in the United States (U.S); Evidence from Linear ARDL Framework

2020 ◽  
Vol 11 (1) ◽  
pp. 132-132
Author(s):  
Aref Emamian
Keyword(s):  
United States ◽  
Stock Market ◽  
The United States ◽  
Real Effective Exchange Rate ◽  
Annual Data ◽  
Fiscal Policies ◽  
Long Run ◽  
The Us ◽  
Short Run ◽  
The Impact

This study examines the impact of monetary and fiscal policies on the stock market in the United States (US), were used. By employing the method of Autoregressive Distributed Lags (ARDL) developed by Pesaran et al. (2001). Annual data from the Federal Reserve, World Bank, and International Monetary Fund, from 1986 to 2017 pertaining to the American economy, the results show that both policies play a significant role in the stock market. We find a significant positive effect of real Gross Domestic Product and the interest rate on the US stock market in the long run and significant negative relationship effect of Consumer Price Index (CPI) and broad money on the US stock market both in the short run and long run. On the other hand, this study only could support the significant positive impact of tax revenue and significant negative impact of real effective exchange rate on the US stock market in the short run while in the long run are insignificant. Keywords: ARDL, monetary policy, fiscal policy, stock market, United States

scholarly journals The Econometrics and Economics of the Employment Effects of Minimum Wages: Getting from Known Unknowns to Known Knowns

2019 ◽  
Vol 20 (3) ◽  
pp. 293-329 ◽  
Author(s):  
David Neumark
Keyword(s):  
United States ◽  
Minimum Wage ◽  
Past Research ◽  
The United States ◽  
Minimum Wages ◽  
Definitive Answer ◽  
Employment Effects ◽  
Conflicting Evidence ◽  
Known Unknowns ◽  
Wage Increases

Abstract I discuss the econometrics and the economics of past research on the effects of minimum wages on employment in the United States. My intent is to try to identify key questions raised in the recent literature, and some from the earlier literature, which I think hold the most promise for understanding the conflicting evidence and arriving at a more definitive answer about the employment effects of minimum wages. My secondary goal is to discuss how we can narrow the range of uncertainty about the likely effects of the large minimum wage increases becoming more prevalent in the United States. I discuss some insights from both theory and past evidence that may be informative about the effects of high minimum wages, and try to emphasize what research can be done now and in the near future to provide useful evidence to policymakers on the results of the coming high minimum wage experiment, whether in the United States or in other countries.

The Migratory Impact of Minimum Wage Legislation: Puerto Rico, 1970–1987

1993 ◽  
Vol 27 (4) ◽  
pp. 772-795
Author(s):  
Carlos E. Santiago
Keyword(s):  
United States ◽  
Puerto Rico ◽  
Minimum Wage ◽  
Labor Migration ◽  
Capital Investment ◽  
The United States ◽  
Multiple Time ◽  
Wage Setting ◽  
Wage Policy ◽  
The Impact

Minimum wage research has historically focused on labor mobility between covered and uncovered labor markets within a geographic area. This study examines the impact of minimum wage setting on labor migration. A multiple time series framework is applied to monthly data for Puerto Rico from 1970–1987. The results show that net emigration from Puerto Rico to the United States fell in response to significant changes in the manner in which minimum wage policy was conducted, particularly after 1974. The extent of commuter type labor migration between Puerto Rico and the United States is influenced by minimum wage policy, with potentially important consequences for human capital investment and long-term standards of living.

scholarly journals Analysis of the Economic Impact of the US Presidential Candidates on the United States and China

2021 ◽  
Vol 6 (1) ◽  
pp. 5
Author(s):  
Pengzhi Yin ◽  
Jiasi Peng
Keyword(s):  
United States ◽  
Coping Strategies ◽  
Economic Impact ◽  
Minimum Wage ◽  
Presidential Election ◽  
The United States ◽  
Energy Technology ◽  
Presidential Candidates ◽  
The Us ◽  
The Impact

The presidential election of art and industry: the contest between Trump and Biden has been staged. They have different tax, minimum wage, energy, technology, trade and other strategies, which will inevitably have an impact on the economy of the United States and China. Our team chose this mathematician modeling project to scientifically evaluate the impact of the new president of the United States on the economy of the two countries, and put forward our coping strategies.

Minimum Wages and Racial Inequality*

2020 ◽  
Vol 136 (1) ◽  
pp. 169-228
Author(s):  
Ellora Derenoncourt ◽  
Claire Montialoux
Keyword(s):  
United States ◽  
Civil Rights ◽  
Minimum Wage ◽  
Racial Inequality ◽  
Critical Role ◽  
The United States ◽  
Hourly Wage ◽  
Black Workers ◽  
Wage Policy ◽  
The Impact

Abstract The earnings difference between white and black workers fell dramatically in the United States in the late 1960s and early 1970s. This article shows that the expansion of the minimum wage played a critical role in this decline. The 1966 Fair Labor Standards Act extended federal minimum wage coverage to agriculture, restaurants, nursing homes, and other services that were previously uncovered and where nearly a third of black workers were employed. We digitize over 1,000 hourly wage distributions from Bureau of Labor Statistics industry wage reports and use CPS microdata to investigate the effects of this reform on wages, employment, and racial inequality. Using a cross-industry difference-in-differences design, we show that earnings rose sharply for workers in the newly covered industries. The impact was nearly twice as large for black workers as for white workers. Within treated industries, the racial gap adjusted for observables fell from 25 log points prereform to 0 afterward. We can rule out significant disemployment effects for black workers. Using a bunching design, we find no aggregate effect of the reform on employment. The 1967 extension of the minimum wage can explain more than 20% of the reduction in the racial earnings and income gap during the civil rights era. Our findings shed new light on the dynamics of labor market inequality in the United States and suggest that minimum wage policy can play a critical role in reducing racial economic disparities.

Minimum Wages, Unions, the Economy and Society

2008 ◽  
Vol 19 (1) ◽  
pp. 25-37 ◽  
Author(s):  
John Nevile ◽  
Peter Kriesler
Keyword(s):  
Economic Theory ◽  
Adverse Effects ◽  
Theoretical Analysis ◽  
Labour Market ◽  
Empirical Evidence ◽  
Minimum Wage ◽  
Minimum Wages ◽  
Economics Profession ◽  
Short Run ◽  
Minimum Wage Legislation

One of the characteristics of the WorkChoices legislation introduced by the Howard government was the anti-union bias that permeated it. Some argue that this is appropriate because unions increase minimum wages, and economic theory shows that this will decrease employment and hence output. The Rudd government has signalled that it intends changing this anti-union bias, while at the same time restoring the role and coverage of minimum wages. This paper examines the arguments around these issues and concludes that neither side of the economic theory debate has delivered a knockout blow. The theoretical analysis is followed by a section looking at empirical evidence on the effects of deregulating labour markets. Again there is not complete consensus among the economics profession. However, both sides of the debate on the effects of labour market deregulation agree that strong minimum wage legislation does significantly reduce earnings inequality by increasing earnings at the bottom end of the distribution. The paper concludes that the increase in inequality consequent on labour market deregulation has adverse effects on the economy in the short run and disturbing longer run effects on society.

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