Minimum Wages and the Card‐Krueger Paradox

A. Ross Shepherd

Southern Economic Journal, 2000, vol. 67, issue 2, 469-478

Abstract: An apparent paradox perceived by Card and Krueger concerning the relationship between minimum wages, employment, and output prices is resolved by revisiting the economics of minimum wages to show that under monopsonistic conditions in the labor market and competitive price‐taking in the market for output, increases in both firm‐level and industry employment are compatible with increases in output prices.

Date: 2000
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https://doi.org/10.1002/j.2325-8012.2000.tb00348.x

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Persistent link: https://EconPapers.repec.org/RePEc:wly:soecon:v:67:y:2000:i:2:p:469-478

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