The Minimum Wage, Restaurant Prices, and Labor Market Structure

Autor/inn/en	Aaronson, Daniel; French, Eric; MacDonald, James
Titel	The Minimum Wage, Restaurant Prices, and Labor Market Structure
Quelle	In: Journal of Human Resources, 43 (2008) 3, S.688-720 (33 Seiten) PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0022-166X
Schlagwörter	Minimum Wage; Labor Market; Dining Facilities; Cost Indexes; Models; Food Service; Service Occupations; Labor Economics; Costs; Consumer Economics; Economic Climate + Suchen Sie Ihr Suchwort? Mindesteinkommen; Labour market; Arbeitsmarkt; Mensa; Kostenentwicklung; Analogiemodell; Dienstleistungsberuf; Arbeitsökonomie; Cost; Kosten; Konsumökonomie; Wirtschaftslage
Abstract	Using store-level and aggregated Consumer Price Index data, we show that restaurant prices rise in response to minimum wage increases under several sources of identifying variation. We introduce a general model of employment determination that implies minimum wage hikes cause prices to rise in competitive labor markets but potentially fall in monopsonistic environments. Furthermore, the model implies employment and prices are always negatively related. Therefore, our empirical results provide evidence against the importance of monopsony power for understanding small observed employment responses to minimum wage changes. Our estimated price responses challenge other explanations of the small employment response, too. (Contains 3 tables, 3 figures and 42 footnotes.) (As Provided).
Anmerkungen	University of Wisconsin Press. 1930 Monroe Street, Madison, WI 53711-2059. Tel: 608-263-0668; Fax: 608-263-1173; e-mail: journals@uwpress.wisc.edu; Web site: http://www.wisc.edu/wisconsinpress/journals
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2017/4/10