Please use this identifier to cite or link to this item:
|Title:||The spending and debt response to minimum wage hikes|
|Source:||Aaronson, D., Agarwal, S., French, E. (2012-12). The spending and debt response to minimum wage hikes. American Economic Review 102 (7) : 3111-3139. ScholarBank@NUS Repository. https://doi.org/10.1257/aer.102.7.3111|
|Abstract:||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. Copyright © 2012 by the American Economic Association.|
|Source Title:||American Economic Review|
|Appears in Collections:||Staff Publications|
Show full item record
Files in This Item:
There are no files associated with this item.
checked on Jan 4, 2018
WEB OF SCIENCETM
checked on Nov 23, 2017
checked on Jan 14, 2018
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.