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Card and Krueger's paper (AER 1994, "Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania") uses a difference-in-difference identification strategy to identify the causal effect of a minimum wage increase on unemployment. The main finding was that the increase in the minimum wage had a negligible or even non-existent effect of employment. There have been several criticisms to the paper---including criticizing the quality of the data or the fact that employers might have anticipated the change.
My question is what are the main economic explanations for why employment did not significantly fall? What other evidence could be used to test these explanations?
Provide an example of a positive production externality, either one you have read about or found through research, or one that is hypothetical. The example should clearly stat
Draw the appropriate graph assuming that the economy is operating below full employment. Assuming the aggregate demand shortfall is $1466B and MPC is .72, calculate the amount
In reference to supply and demand as well as demand and supply elasticity. What did you learn? Why is it important? How do the Economics concepts we just covered impact the ec
Title IX of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 appears to be driven in part by the Madoff Ponzi scheme. Indeed, af- ter the SEC’s investigat
In the last 6 months the European Union has undergone a significant economic slowdown with corresponding declines in both output and income (assume the exchange rate remains c
imagine a backyard garden of fixed size and all other inputs except labor also fixed ; will adding a worker increase your output? Will adding another increase output by as m
Six Sigma is deployed using the Define-Measure-Analyze-Improve-Control (DMAIC) project management framework. Identify an actual Six Sigma project and write one paragraph cover
Elasticity’s effect on pricing policy can be profound and far reaching. A poorly thought out price increase can drive profit down considerably. Likewise, a price cut might dri
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