Beyond covering previously sparse treatments of issues such as effects on prices, inflation, profits, and inequality, Neumark and Wascher demonstrate the overwhelming weight and detrimental effects of minimum wages on low-skilled workers. The volume is a must for anyone interested in research on labor markets.(Daniel Hamermesh, Centennial Professor of Economics, University of Texas at Austin)
Over the past 20 years, the focus of research on the minimum wage has changed from federal to state minimum wages as the key policy variable, and from effects on teen employment to a broader range of outcomes. David Neumark and William Wascher have been important contributors to these innovations. Minimum Wages combines a very accessible summary of their research with helpful discussions of others' work.(Charles Brown, Professor of Economics, University of Michigan)
This is a superb book, notable for both breadth and depth of coverage, on one of the most fundamental topics in economics...Summing Up: Essential. Economics collections, upper-division undergraduate through professional.(Choice)
About the Author
William L. Wascher is Senior Associate Director in the Division of Research and Statistics at the Federal Reserve Board.