B School for Public Policy
The Economics of Minimum Wage Regulations
Seminar by Professor Jesús Fernández-Villaverde
Rising concern over income inequality has yielded an upswing in support for modifying minimum wage laws. As of October 2018, ten large U.S. cities and seven states had passed laws to increase the minimum wage, typically to between $12-$15/hr, and ballot measures in the 2018 midterm elections added Missouri and Arkansas to that list. But the actual effects of minimum wages on employment, technological change, and inequality remain contested. This seminar by Professor Jesús Fernández-Villaverde will examine what the research suggests about the economic effects of minimum wage regulations, while also discussing other possible policy levers for achieving the economic goals that minimum wages are meant to target.