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What! Another Minimum Wage Study?

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  • Mary Eccles
  • Richard B. Freeman

Abstract

The Minimum Wage Study Commission was established in 1977 to aid Congress in investigating the effects and possible consequences of two proposed changes in the minimum wage law: indexing the wage to inflation and providing for a youth differential. This paper seeks to determine to what extent the Minimum Wage Study Commission's work has been helpful in policy debate, and compares the Commission's findings with those of the more conservative American Enterprise Institute. The paper also examines whether the Commission's final product was worth three years of study and $17 million. Our overall finding is that the Commission's report appears to have had little or no policy impact. The research did little to expand upon similar studies done prior to 1977, and cannot be said to be worth three years and $17 million. However, policy-makers still regard the report as a useful and credible examination of the effects of the mini- mum wage on the economy.

Suggested Citation

  • Mary Eccles & Richard B. Freeman, 1982. "What! Another Minimum Wage Study?," NBER Working Papers 0878, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:0878 Note: LS
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    References listed on IDEAS

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    1. J. Tobin, 1958. "Liquidity Preference as Behavior Towards Risk," Review of Economic Studies, Oxford University Press, vol. 25(2), pages 65-86.
    2. Feldstein, Martin & Horioka, Charles, 1980. "Domestic Saving and International Capital Flows," Economic Journal, Royal Economic Society, vol. 90(358), pages 314-329, June.
    3. Martin Feldstein, 1983. "Inflation, Tax Rules, and the Accumulation of Residential and Nonresidential Capital," NBER Chapters,in: Inflation, Tax Rules, and Capital Formation, pages 81-100 National Bureau of Economic Research, Inc.
    4. J. E. Stiglitz, 1969. "The Effects of Income, Wealth, and Capital Gains Taxation on Risk-Taking," The Quarterly Journal of Economics, Oxford University Press, vol. 83(2), pages 263-283.
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    Cited by:

    1. William McEachern, 1987. "Federal advisory commissions in an economic model of representative democracy," Public Choice, Springer, vol. 54(1), pages 41-62, January.
    2. Knabe Andreas & Schöb Ronnie & Thum Marcel, 2014. "Der flächendeckende Mindestlohn," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 15(2), pages 133-157, June.
    3. repec:eee:labchp:v:3:y:1999:i:pb:p:2101-2163 is not listed on IDEAS

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