The Race Between Education, Technology, and the Minimum Wage
构建了一个将最低工资纳入教育-技术竞赛的理论模型，发现最低工资对工资的影响随时间增强，并解释了1980年代低教育工人实际工资下降及美国大学溢价演变。
ABSTRACT What is the effect of the real minimum wage on wages and inequality? I develop a theory that nests the race between education and technology. The theory predicts that the effect of changes in minimum wages is initially small but grows over time. I present empirical evidence of these dynamic effects: the elasticity of real wages grows substantially over a three-year period. I show that minimum wages help rationalize a considerable decline in real wages of low-education workers in the 1980s and play a role in shaping the evolution of the U.S. college premium.