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How Much Would Increasing the Minimum Wage Affect Food Prices?

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Author Info

  • Lee, Chinkook
  • Schluter, Gerald E.
  • O'Roark, Brian

Abstract

Will increasing the minimum wage increase food prices as well? This study shows that a simulated $0.50 increase in the minimum wage, if entirely passed on to consumers, would have increased food prices by less than 1 percent for most of the foods at foodstores and by 1 percent at eating and drinking places. Because these estimates were simulated using an economic model that assumed that firms did not alter their production processes when faced with higher minimum wages, these estimates are likely "upward bounds" of the price effects of a minimum wage increase.

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File URL: http://purl.umn.edu/33598
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Bibliographic Info

Paper provided by United States Department of Agriculture, Economic Research Service in its series Agricultural Information Bulletins with number 33598.

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Date of creation: 2000
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Handle: RePEc:ags:uersab:33598

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Keywords: Demand and Price Analysis; Labor and Human Capital;

References

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  1. Lee, Chinkook & O'Roark, Brian, 1999. "The Impact of Minimum Wage Increases on Food and Kindred Products Prices: An Analysis of Price Pass-Through," Technical Bulletins 33553, United States Department of Agriculture, Economic Research Service.
  2. Daniel Aaronson, 2001. "Price Pass-Through And The Minimum Wage," The Review of Economics and Statistics, MIT Press, vol. 83(1), pages 158-169, February.
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Cited by:
  1. Jeannette Wicks-Lim & Jeffrey Thompson, 2010. "Combining Minimum Wage and Earned Income Tax Credit Policies to Guarantee a Decent Living Standard to All U.S. Workers," Published Studies peri_mw_eitc_oct2010, Political Economy Research Institute, University of Massachusetts at Amherst.
  2. 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.

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