The Minimum Wage, Restaurant Prices, and Labor Market Structure
利用门店层面和汇总的消费者价格指数数据，本文发现最低工资上涨会导致餐馆价格上涨，并建立模型说明在竞争性劳动力市场中价格上升，在买方垄断环境中可能下降，实证结果不支持买方垄断对就业反应的解释。
Abstract Using store-level and aggregated Consumer Price Index data, we show that restaurant prices rise in response to minimum wage increases under several sources of identifying variation. We introduce a general model of employment determination that implies minimum wage hikes cause prices to rise in competitive labor markets but potentially fall in monopsonistic environments. Furthermore, the model implies employment and prices are always negatively related. Therefore, our empirical results provide evidence against the importance of monopsony power for understanding small observed employment responses to minimum wage changes. Our estimated price responses challenge other explanations of the small employment response, too.