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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?
Perfect and imperfect multicollinearity: Define perfect multicollinearity either mathematically or explain it intuitively. Explain how imperfect multicollinearity differs from perfect multicollinearity (you may, but don’t have to, use examples).
Why the focus in interest rates and unemployment and why can they keep the interest rates low? How do bond purchases tie in with the interest rates?
Illustrate what ranges of the money growth rate (assuming positive values) would allow the Bank of Korea to achieve this objective.
In a two–player, one shot simultaneous – move game each player can choose strategy A or strategy B. If both players choose strategy A, each earns a payoff of $500. If both players choose strategy B, each earns a payoff of $100. If player one chooses ..
The equation for the demand curve for hotel rooms in Boston is given by P = 5000-0.48Qd. The supply curve is given by P = 0.02Qs. Prices are nightly rates in dollars.
Find the output you should produce in order to maximize your expected profits so that you can then determine your expected profits accurately.
Over the past decade, medical costs have increased more rapidly than other prices. In order to illustrate how rising medical costs have affected consumer alternatives, let X represent the quantity of medical services, and let Y represent the quantity..
Economists have argued that rent control is "the best way to destroy a city, other than bombing." Why would economists say this. Illustrate what problems might it face in the future.
A firm has two plants, one in the US and one in Mexico and it cannot change the size of the plants or amount of capital equipment. This wage in Mexico is $5. The wage in US is $20. Given current employment the marginal product of the last worker in M..
Based on the revised (1997) merger guidelines, would the Antitrust Division likely challenge a proposed merger between.
shutdown point case average variable cost market price lt average total costnbspif the market price in the above
Households deposit $5,000 in currency into the bank that is added to reserves. Illustrate what level of excess reserves does the bank now have.
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