The Local Aggregate Effects of Minimum Wage Increases / Daniel Cooper, María José Luengo-Prado, Jonathan A. Parker.

Format:

Book

Author/Creator:

Cooper, Daniel.

Contributor:

National Bureau of Economic Research.

Luengo-Prado, María José.

Parker, Jonathan A.

Series:

Working Paper Series (National Bureau of Economic Research) no. w25761.

NBER working paper series no. w25761

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2019.

Summary:

Using variation in minimum wages across cities and controlling for differences in business-cycle factors and long-run local economic trends, we find that following minimum wage increases, both prices and nominal spending rise modestly. These gains are larger for certain sub-categories of goods such as food away from home and in locations where low-wage workers are a larger share of employment. Further, minimum wage increases are associated with reduced total debt among households with low credit scores, higher auto debt, and increased access to credit.

Notes:

Print version record

April 2019.