In some of his research, joint with Alan Krueger, Card finds that increases in the minimum wage have negligible effects on employment. In other research, on the Mariel boatlift, Card finds that increases in the supply of unskilled workers have negligible effects on wages and employment of existing workers.
Caplan notes that these results are hard to reconcile: The former suggests that labor demand is highly inelastic, whereas the latter suggests it is highly elastic. Continue reading
Recent blog posts
October 2017 M T W T F S S « Oct 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
Site page map
- About economic-truth
- Academic papers
Tagsautomation books competition confidence consumer cost cost benefit analysis counterfactual credit currency debt efficiency EU expected value externalities game theory incentives income inflation insurance labour legislation markets migration modelling newspapers NHS online Pareto politics pricing public sector rational regulation statistics taxation theory unemployment US utility value vertical voting willingness to pay