Minimum Wage Channels of Adjustment
利用佐治亚州和阿拉巴马州餐厅的工资单数据，分析2007-2009年最低工资上调后企业通过价格、利润、工资压缩、离职率和绩效标准等渠道的调整，发现就业和工时反应不稳定且大多不显著。
We analyze the effects of minimum wage increases in 2007–2009 using a sample of restaurants from Georgia and Alabama. Store‐level payroll records provide precise measures of compliance costs. We examine multiple adjustment channels. Exploiting variation in compliance costs across restaurants, we find employment and hours responses to be variable and in most cases statistically insignificant. Channels of adjustment to wage increases and to changes in nonlabor costs include prices, profits, wage compression, turnover, and performance standards.