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The theoretical literature argues that labor markets outcomes are affected by real minimum wages. Real minimum wages, however, co-move with the business cycle; their correlation with labor market outcomes should therefore not be interpreted causally. We employ structural vector autoregression to...
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secondary school they attended, and to disentangle the (descriptive) channels contributing to these differences. The analysis is … schooling (and students' school standardized mathematics test scores) and wage outcomes at their early career can be observed …-25 (and already working) is generated at the school level. This also implies that the correlation between the wages of any two …
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