The Minimum Wage and Inequality: The Effects of Education and Technology
构建了一个包含内生技能选择的一般均衡模型，发现最低工资不仅截断工资分布，还通过影响技能价格改变人们的教育决策，从而对工资分布的两端都产生显著影响。
In the last 30 years wage inequality increased steeply while real minimum wages fell. In this paper I demonstrate that a general equilibrium model with endogenous skill choice is required to correctly evaluate the implications of minimum wage changes. The minimum wage not only truncates the wage distribution, but also affects skill prices and therefore changes the incentives that people face when making educational decisions. The calibrated model suggests, in line with recent empirical literature, that even though minimum wages affect the bottom end of the wage distribution more, their impact on the top end is significant as well.