Hurst, Erik; Kehoe, Patrick J.; Pastorino, Elena; … - National Bureau of Economic Research - 2022
distributional impact of the minimum wage in the short and long run. Our production technology is disciplined to be consistent with … the small estimated employment effects of the minimum wage in the short run and the large estimated elasticities of … substitution across inputs in the long run. We find that in the short run, a large increase in the minimum wage has a small effect …