This study investigates the effects of Federal minimum wage policy on mini-mum wage employment, aggregate employment, and average wage rates. The theoretical analysis focuses on the possible effect of the Federal minimum wage in constraining wages and employment in a subset of labor markets, on...

In this chapter, a vector subset autoregressive process is fitted using a block modified Choleski decomposition method and a leaps-and-bounds algorithm to attain the best subset autoregression for each size (number of non-zero coefficient matrices). Model selection criteria are then employed to...

Hundreds of articles have been written that include empirical estimates of the employment effects of minimum wages; however, many of these articles find statistically insignificant effects, some find significant negative effects, and a few find significantpositive effects. Most of these studies...