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We use price and wage data from McDonald's restaurants to provide evidence on wage increases, labor-saving technology introduction, and price pass-through by a large low-wage employer facing a flurry of minimum wage hikes from 2016-2020. We estimate an elasticity of hourly wage rates with...
Persistent link: https://www.econbiz.de/10012482721
Thanks to standardized work protocol and technology of McDonald's restaurants, the hourly wage of McDonald's Basic Crew enables wage comparisons under near-identical skill inputs and hedonic job conditions. McWages capture labor costs in entry-level jobs, while the Big Macs (earned) Per Hour...
Persistent link: https://www.econbiz.de/10014635671
To analyze the effect of health on work, many studies use a simple self-assessed health measure based upon a question such as "do you have an impairment or health problem limiting the kind or amount of work you can do?" A possible drawback of such a measure is the possibility that different...
Persistent link: https://www.econbiz.de/10012463404
managerial stress, also relative to known health risks …
Persistent link: https://www.econbiz.de/10012496103
survey of U.S. households, we document the prevalence of financial stress in U.S. households and a strong relationship … between financial stress and measures of financial constraints. We incorporate financial stress into an otherwise standard … requires two equally important components: financial stress itself and naivete about financial stress. Specifically …
Persistent link: https://www.econbiz.de/10014287386
The COVID-19 pandemic has profoundly affected American children, including disruptions to their care and school settings. Children attending in-person child care or school have contended with unpredictable closures and time in remote school, which in turn is subject to its own types of...
Persistent link: https://www.econbiz.de/10012814434
This paper examines how the level and dispersion of self-reported happiness has evolved over the period 1972-2006. While there has been no increase in aggregate happiness, inequality in happiness has fallen substantially since the 1970s. There have been large changes in the level of happiness...
Persistent link: https://www.econbiz.de/10012464427
We survey thousands of affluent American investors to examine the relationship between personalities and investment decisions. The Big Five personality traits correlate with investors' beliefs about the stock market and economy, risk preferences, and social interaction tendencies. Two...
Persistent link: https://www.econbiz.de/10014247962
A real wage rate is a nominal wage rate divided by the price of a good and is a transparent measure of how much of the good an hour of work buys. It provides an important indicator of the living standards of workers, and also of the productivity of workers. In this paper I set out the conceptual...
Persistent link: https://www.econbiz.de/10012460654
This paper re-examines the effect of the 1992 New Jersey minimum wage increase on employment in the fast-food industry. We begin by analyzing employment trends using a comprehensive new data set derived from the Bureau of Labor Statistics's (BLS's) ES-202 data file. Both a longitudinal sample...
Persistent link: https://www.econbiz.de/10012472432