Myth and Measurement: The New Economics of the Minimum Wage / Edition 1

Myth and Measurement: The New Economics of the Minimum Wage / Edition 1

by David Card, Alan B. Krueger
     
 

ISBN-10: 0691048231

ISBN-13: 9780691048239

Pub. Date: 09/15/1997

Publisher: Princeton University Press

"Most economists believe that minimum wages invariably reduce employment, but are they right? In this compelling analysis of the U.S. minimum wage, Card and Kreuger show that recent increases in the minimum wage had no adverse effect on employment. This pathbreaking book suggests that economists know less about what the invisible hand is up to than they let

Overview

"Most economists believe that minimum wages invariably reduce employment, but are they right? In this compelling analysis of the U.S. minimum wage, Card and Kreuger show that recent increases in the minimum wage had no adverse effect on employment. This pathbreaking book suggests that economists know less about what the invisible hand is up to than they let on."—Richard Freeman, London School of Economics and Harvard University

"Myth and Measurementis an extraordinarily important book. It will rank with seminal works in labor economics, including Gary Becker's Human Capital, Jacob Mincer's Schooling, Earnings, and Experience, Richard Freeman and James Medoff's What Do Unions Do?, and Edmund Phelp's (ed.) Microeconomic Foundations of Employment and Inflation Theory. The book will interest everyone involved in the minimum wage debates, and it will cause economists to question seriously the models they use and how they do empirical research."—Ronald G. Ehrenberg, Cornell University

"The analysis of minimum wage by Card and Krueger is both comprehensive and provocative. It challenges the received wisdom and is certain to be a major influence on all future work on the topic."—James J. Heckman, University of Chicago

"Myth and Measurement is an extraordinarily important book. It will rank with seminal works in labor economics, including Gary Becker's Human Capital, Jacob Miner's Schooling and Earnings, Richard Freeman and James Medoff's What Unions Do?, and Edmund Phelp's (ed.), Microeconomic Foundations of Employment and Inflation Theory. The book will interest everyone involved in the minimum wage debates, and it will cause economists to question seriously the models they use and how they do empirical research."—Ronald G. Ehrenberg, Cornell University

"In Card and Krueger's hands, the collage becomes a dangerous weapon; the idea that employment has fallen significantly in the wake of minimum wage increases is attacked with both new evidence and a careful look at previous studies."—Charles Brown, University of Michigan

"The most professional work ever done on this highly controversial subject."—Richard Layard, London School of Economics

Product Details

ISBN-13:
9780691048239
Publisher:
Princeton University Press
Publication date:
09/15/1997
Edition description:
Reprint
Pages:
432
Product dimensions:
5.81(w) x 8.89(h) x 1.13(d)

Table of Contents

Preface ix
CHAPTER 1 Introduction and Overview I
CHAPTER 2 Employer Responses to the Minimum Wage: Evidence from the Fast-Food Industry 20
CHAPTER 3 Statewide Evidence on the Effect of the 1988 California Minimum Wage 78
CHAPTER 4 The Effect of the Federal Minimum Wage on Low-Wage Workers: Evidence from Cross-State Comparisons 113
CHAPTER 5 Additional Employment Outcomes 152
CHAPTER 6 Evaluation of Time-Series Evidence 178
CHAPTER 7 Evaluation of Cross-Section and Panel-Data Evidence 208
CHAPTER 8 International Evidence 240
CHAPTER 9 How the Minimum Wage Affects the Distribution of Wages, the Distribution of Family Earnings, and Poverty 276
CHAPTER 10 How Much Do Employers and Shareholders Lose? 313
CHAPTER 11 Is There an Explanation? Alternative Models of the Labor Market and the Minimum Wage 355
CHAPTER 12 Conclusions and Implications 387
References 401
Index 415

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