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Please use this identifier to cite or link to this item: https://doi.org/10.1257/aer.102.7.3111
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dc.titleThe spending and debt response to minimum wage hikes
dc.contributor.authorAaronson, D.
dc.contributor.authorAgarwal, S.
dc.contributor.authorFrench, E.
dc.date.accessioned2016-05-09T10:50:29Z
dc.date.available2016-05-09T10:50:29Z
dc.date.issued2012-12
dc.identifier.citationAaronson, 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
dc.identifier.issn00028282
dc.identifier.urihttp://scholarbank.nus.edu.sg/handle/10635/123844
dc.description.abstractImmediately 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.
dc.description.urihttp://libproxy1.nus.edu.sg/login?url=http://dx.doi.org/10.1257/aer.102.7.3111
dc.sourceScopus
dc.typeReview
dc.contributor.departmentFINANCE
dc.description.doi10.1257/aer.102.7.3111
dc.description.sourcetitleAmerican Economic Review
dc.description.volume102
dc.description.issue7
dc.description.page3111-3139
dc.identifier.isiut000312093000001
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