Reducing poverty via minimum wages, alternatives

David Neumark

FRBSF Economic Letter, 2015

Abstract: Setting a higher minimum wage seems like a natural way to help lift families out of poverty. However, minimum wages target individual workers with low wages, rather than families with low incomes. As a result, a large share of the higher income from minimum wages flows to higher-income families. Other policies that directly address low family income, such as the earned income tax credit, are more effective at reducing poverty.

Date: 2015
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