Arbeitspapier
The local aggregate effects of minimum wage increases
This paper examines the effect of minimum wage changes on local aggregate inflation and consumption growth. The paper utilizes variation in state-level minimum wages across locations and finds that minimum wage increases have a relatively modest effect on both city-level inflation and spending growth over the years following the change. The most noticeable effects are for food consumed at home and away from home - industries that typically employ a large share of low-wage and minimum-wage workers. Interestingly, consumers adjust their real food consumption when minimum wages rise, suggesting that some workers benefit from minimum wage changes.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Papers ; No. 17-8
- Klassifikation
-
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
Price Level; Inflation; Deflation
Incomes Policy; Price Policy
- Thema
-
minimum wage increases
prices
consumption
local aggregate effects
Mindestlohn
Wirkungsanalyse
USA
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Cooper, Daniel
Luengo-Prado, Maria José
Parker, Jonathan A.
- Ereignis
-
Veröffentlichung
- (wer)
-
Federal Reserve Bank of Boston
- (wo)
-
Boston, MA
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Cooper, Daniel
- Luengo-Prado, Maria José
- Parker, Jonathan A.
- Federal Reserve Bank of Boston
Entstanden
- 2017
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