AVERAGE EARNINGS, MINIMUM WAGES AND GRANGER‐CAUSALITY IN AGRICULTURE IN ENGLAND AND WALES
使用协整分析研究1948-1993年英格兰和威尔士农业中男性全职工人的平均收入与最低工资的关系，发现平均收入格兰杰导致最低工资，表明农业工资委员会对平均收入没有影响。
Abstract The Agricultural Wages Board (AWB) for England and Wales sets minimum wages, hours and overtime rates. Post‐war average earnings have always exceeded minimum wages. This paper examines the relationship between average earnings and minimum wages from 1948–1993 for regular whole‐time males using cointegration analysis. The results imply the existence of such a relationship, and that earnings Granger‐cause minimum wages. The AWB therefore has been reactive having had no impact on average earnings.