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What is Perez Minimum Wage Prices Metaanalysis about?
This document reviews the effects of minimum wage increases on prices, updating previous surveys and conducting a meta-analysis of 199 estimates. The findings indicate a positive but moderate price elasticity, suggesting a 10% increase in minimum wage results in a 0.3 to 1.1% rise in prices, with larger effects observed in labor-intensive industries. The paper emphasizes the importance of understanding these price responses for policymakers considering minimum wage adjustments in the context of inflation an
- Author
- Ramón Amandi
- Language
- EN