Product Market Evidence on the Employment Effects of the Minimum Wage
通过校准餐饮业就业模型，推断最低工资变化对就业的影响。价格反应支持竞争模型，10%最低工资提升使低技能就业下降2%-4%，总餐饮就业下降1%-3%。
We infer the employment response to a minimum wage change by calibrating a model of employment for the restaurant industry. Whereas perfect competition implies that employment falls and prices rise after a minimum wage increase, the monopsony model potentially implies the opposite. We show that estimated price responses are consistent with the competitive model. We place fairly tight bounds on the employment response, with the most plausible parameter values suggesting that a 10% increase in the minimum wage lowers low-skill employment by 2%–4% and total restaurant employment by 1%–3%.