A $15 federal minimum wage is outside historical experience

Ian Fillmore

Research in Economics, 2022, vol. 76, issue 1, 84-92

Abstract: Many economists and policymakers implicitly assume that “previous, modest increases in the minimum wage” are informative about the effects of a $15 minimum. Economic theory predicts that the employment effects of the minimum wage should vary with the composition of affected occupations and industries. I find that a $15 minimum would affect a far broader set of occupations and industries than prior increases, calling into question whether we can extrapolate from past experience with the minimum wage. I find that the frontier of historical experience is a federal minimum between $9 and $11.

Keywords: Minimum wage; Labor demand (search for similar items in EconPapers)
JEL-codes: J23 J31 J80 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reecon:v:76:y:2022:i:1:p:84-92

DOI: 10.1016/j.rie.2022.03.002

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