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A Survey Of The Effects Of The Minimum Wage On Prices

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  • Sara Lemos

Abstract

It is well established in the literature that minimum wage increases compress the wage distribution. Firms respond to these higher labour costs by reducing employment, reducing profits, or raising prices. While there are hundreds of studies on the employment effect of the minimum wage, there are merely a handful of studies on its profit effects, and only a couple of dozen studies on its price effects. Furthermore, a comprehensive survey on minimum wage price effects is not available in the literature. Given the policy relevance of this neglected issue, in this paper we summarize and critically compare the available evidence on the effects of minimum wages on prices. Copyright 2008 The Author Journal compilation � 2008 Blackwell Publishing Ltd.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Journal of Economic Surveys.

Volume (Year): 22 (2008)
Issue (Month): 1 (02)
Pages: 187-212

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Handle: RePEc:bla:jecsur:v:22:y:2008:i:1:p:187-212

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Economists disagree on whether the minimum wage kills jobs. Why?
    by Brad Plumer in Ezra Klein's Wonkblog on 2013-02-14 14:00:01
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Cited by:
  1. Luis Eduardo Arango & Luz Karine Ardila & Miguel Ignacio Gömez, . "Efecto del cambio del salario mínimo en el precio de las comidas fuera del hogar en Colombia," Borradores de Economia 584, Banco de la Republica de Colombia.
  2. Tonin, Mirco, 2011. "Minimum Wage and Tax Evasion: Theory and Evidence," IZA Discussion Papers 5660, Institute for the Study of Labor (IZA).
  3. Wadsworth, Jonathan, 2009. "Did the National Minimum Wage Affect UK Prices?," IZA Discussion Papers 4433, Institute for the Study of Labor (IZA).
  4. John Schmitt, 2013. "Why Does the Minimum Wage Have No Discernible Effect on Employment?," CEPR Reports and Issue Briefs 2013-04, Center for Economic and Policy Research (CEPR).
  5. Mirko Draca & Stephen Machin & John Van Reenen, 2006. "Minimum Wages and Firm Profitability," CEP Discussion Papers dp0715, Centre for Economic Performance, LSE.
  6. Margherita Comola & Luiz de Mello, 2009. "How Does Decentralised Minimum-Wage Setting Affect Unemployment and Informality?: The Case of Indonesia," OECD Economics Department Working Papers 710, OECD Publishing.

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