A Meta-Analysis of the Effect of Minimum Wage Increases on Prices
| Autor: | Mgr. Jana Vavřičková |
|---|---|
| Rok: | 2015 - letní |
| Vedoucí: | prof. PhDr. Tomáš Havránek Ph.D. |
| Konzultant: | |
| Typ práce: | Diplomová Finance, finanční trhy a bankovnictví |
| Jazyk: | Anglicky |
| Stránky: | 77 |
| Ocenění: | |
| Odkaz: | https://is.cuni.cz/webapps/zzp/detail/134659/ |
| Abstrakt: | As an economically as well as politically sensitive topic, labor market interventions stir up discussions among professionals as well as general public. Most economists take negative stance against minimum wage policies providing arguments backed by theoretical reasoning rather then sound empirical evidence. Knowledge of labor market outcomes and their transmission channel to other segments of the economy are till nowadays limited and inconsistent. Neither empirical research in the field contributes to a uniform consent on the impact of minimum wage hikes on the price level. Moreover, the reported estimates display large heterogeneity and after a brief inspection reveal that the field is infested with publication selectivity. A uniquely constructed dataset consisting of 469 estimates of the price effect of minimum wage changes and their associated characteristics is analyzed using a set of statistical tools generally known as meta-analysis. The method is a powerful tool nowadays widely used in empirical research to synthesize and systematically evaluate sometimes inconsistent research results. While the study finds no consistent evidence of an actual link between minimum wage hikes and inflationary pressures, the empirical results show strong presence of publication selectivity |
