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Restaurant Prices and the Minimum Wage

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Author Info
Fougère, Denis
Gautier, Erwan
Le Bihan, Hervé

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Abstract

We examine the effect of the minimum wage on restaurant prices. For that purpose, we estimate a price rigidity model by exploiting a unique dataset of individual price quotes used to calculate the Consumer Price Index in France. We find a positive and significant impact of the minimum wage on prices. We obtain that the effect of the minimum wage on prices is very protracted. The aggregate impact estimated with our model takes more than a year to fully pass through to retail prices.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 6892.

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Date of creation: Jun 2008
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Handle: RePEc:cpr:ceprdp:6892

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Related research
Keywords: Inflation Minimum wage Price stickiness Restaurant prices

Find related papers by JEL classification:
D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

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This page was last updated on 2008-8-19.

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