The Spending and Debt Response to Minimum Wage Hikes

被引：119

作者：

Aaronson, Daniel ^{[1
]}

Agarwal, Sumit ^{[2
]}

French, Eric ^{[1
]}

机构：

[1] Fed Reserve Bank Chicago, Chicago, IL 60604 USA

[2] Natl Univ Singapore, Singapore 119245, Singapore

来源：

AMERICAN ECONOMIC REVIEW | 2012年 / 102卷 / 07期

基金：

英国经济与社会研究理事会;

关键词：

ANTICIPATED INCOME CHANGES; CONSUMER DURABLES; HOUSEHOLD CONSUMPTION; AUTOMOBILE PURCHASES; LIFE-CYCLE; EXPENDITURES; ADJUSTMENT; HYPOTHESIS; WORKERS; PRICES;

D O I：

10.1257/aer.102.7.3111

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

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.

引用

页码：3111 / 3139

页数：29

共 44 条

[31] A STRUCTURAL EVALUATION OF A LARGE-SCALE QUASI-EXPERIMENTAL MICROFINANCE INITIATIVE [J].