| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11097 |
| DP11097 Industry Dynamics and the Minimum Wage: A Putty-Clay Approach | |
| Eric Baird French; Daniel Aaronson; Isaac Sorkin | |
| 发表日期 | 2016-02-07 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | We document three new findings about the industry-level response to minimum wage hikes. First, restaurant exit and entry both rise following a hike. Second, the rise in entry and exit is concentrated in chains. Third, there is no change in employment among continuing restaurants. We develop a model of industry dynamics based on putty-clay technology and show that it is consistent with these findings. In the model, continuing restaurants cannot change employment, and thus industry-level adjustment occurs through exit of labor-intensive restaurants and entry of capital-intensive ones. We show these three findings are inconsistent with other models of industry dynamics. |
| 主题 | Labour Economics ; Public Economics |
| 关键词 | Employment Industry dynamics Minimum wage Putty-clay |
| URL | https://cepr.org/publications/dp11097 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539925 |
| 推荐引用方式 GB/T 7714 | Eric Baird French,Daniel Aaronson,Isaac Sorkin. DP11097 Industry Dynamics and the Minimum Wage: A Putty-Clay Approach. 2016. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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