Replication data for: The Spending and Debt Response to Minimum Wage Hikes
Principal Investigator(s): View help for Principal Investigator(s) Daniel Aaronson; Sumit Agarwal; Eric French
Version: View help for Version V1
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| Supplemental-Files-for-AAF | 12/06/2019 04:06:PM | ||
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text/plain | 14.6 KB | 12/06/2019 11:07:AM |
Project Citation:
Aaronson, Daniel, Agarwal, Sumit, and French, Eric. Replication data for: The Spending and Debt Response to Minimum Wage Hikes. Nashville, TN: American Economic Association [publisher], 2012. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-06. https://doi.org/10.3886/E116110V1
Project Description
Summary:
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Immediately following a minimum wage hike, household income
rises on average by about $250 per quarter and spending by roughly
$700 per quarter for households with minimum wage workers. Most
of the spending response is caused by a small number of households
who purchase vehicles. Furthermore, we find that the high spending
levels are financed through increases in collateralized debt. Our
results are consistent with a model where households can borrow
against durables and face costs of adjusting their durables stock.
(JEL D12, D14, D91, J38)
Scope of Project
JEL Classification:
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D12 Consumer Economics: Empirical Analysis
D14 Household Saving; Personal Finance
D15 Intertemporal Household Choice; Life Cycle Models and Saving
J38 Wages, Compensation, and Labor Costs: Public Policy
D12 Consumer Economics: Empirical Analysis
D14 Household Saving; Personal Finance
D15 Intertemporal Household Choice; Life Cycle Models and Saving
J38 Wages, Compensation, and Labor Costs: Public Policy
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