INDUSTRY DYNAMICS AND THE MINIMUM WAGE: A PUTTY-CLAY APPROACH
INDUSTRY DYNAMICS AND THE MINIMUM WAGE: A PUTTY-CLAY APPROACH
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DOI：
10.1111/iere.12262
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发表时间：
2018-02-01
影响因子：
1.5
通讯作者：
To, Ted
中科院分区：
文献类型：
--
作者：
Aaronson, Daniel;French, Eric;To, Ted
我们记录了两个关于行业层面对最低工资上调的反应的新发现。首先，餐馆的退出和进入都在上涨后上升。第二，在继续经营的餐馆中，就业人数没有变化。我们开发了一个模型的行业动态的基础上油灰粘土技术，是与这些研究结果相一致。在该模型中，继续经营的餐馆不能改变就业，因此通过劳动密集型餐馆的退出和资本密集型餐馆的进入，逐渐发生产业层面的调整。有趣的是，泥粘土模型与其他研究中发现的最低工资的短期失业效应相匹配，但产生了更大的长期失业效应。
We document two new findings about the industry-level response to minimum wage hikes. First, restaurant exit and entry both rise following a hike. Second, there is no change in employment among continuing restaurants. We develop a model of industry dynamics based on putty-clay technology that is consistent with these findings. In the model, continuing restaurants cannot change employment, and thus industry-level adjustment occurs gradually through exit of labor-intensive restaurants and entry of capital-intensive restaurants. Interestingly, the putty-clay model matches the small estimated short-run disemployment effect of the minimum wage found in other studies, but produces a larger long-run disemployment effect.