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This paper presents results from the third year of a multiyear, pre-committed research design for analyzing recent minimum wage changes.
Persistent link: https://www.econbiz.de/10014439115
We study heterogeneity in minimum wage policy design and in the employment effects of minimum wage increases. Specifically, we study whether indexing minimum wages to inflation and differences in county-level wages and mobility rates lead to heterogenous employment effects following minimum wage...
Persistent link: https://www.econbiz.de/10014439137
Clemens and Strain present early evidence on the employment effects of state minimum wage increases enacted between January 2013 and January 2015 and offer an interpretative framework to understand why it is of interest to study recent changes in isolation.
Persistent link: https://www.econbiz.de/10014439181
Persistent link: https://www.econbiz.de/10014439203
This paper presents a data set that tracks effective minimum wage rates across the US states, including the District of Columbia, from January 1, 2011, to January 1, 2018.
Persistent link: https://www.econbiz.de/10014439221
Empirical research on minimum wages has historically focused on employment effects, with the implicit assumption that workers who remain employed under a minimum wage regime are better off. This paper develops a simple model and a stylized example to highlight the importance of an...
Persistent link: https://www.econbiz.de/10014439293
The Least-Squares Monte Carlo model (LSM model) has emerged as the derivative valuation technique with the greatest impact in current practice. As with other options valuation models, the LSM algorithm was initially posited in the field of financial derivatives and its extension to the realm of...
Persistent link: https://www.econbiz.de/10011988695
The article is essentially a book-review of Professor Vijay Joshi's recent work, '"India's Long Road: The Search for Prosperity". In this critical essay, I take a slightly revisionist approach when it comes to a 'typical'book review. For example, the length of this article goes well-beyond the...
Persistent link: https://www.econbiz.de/10011866627
This extended abstract shows the importance of human intuition in the context of creating new knowledge. In particular, inspirational intuition plays an important role. In contrast to Daniel Kahneman's fast, intuitive and routine decision-making in terms of a System 1 (Kahneman 2011, pp. 19...
Persistent link: https://www.econbiz.de/10014540410
This paper examines whether machine learning (ML) algorithms can outperform a linear model in predicting monthly growth in Canada of both house prices and existing home sales. The aim is to apply two widely used ML techniques (support vector regression and multilayer perceptron) in economic...
Persistent link: https://www.econbiz.de/10014541768