NBER

María José Luengo-Prado

Federal Reserve Bank of Boston
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Boston, MA 02210
USA

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
Institutional Affiliation: Federal Reserve Bank of Boston

NBER Working Papers and Publications

April 2019The Local Aggregate Effects of Minimum Wage Increases
with Daniel Cooper, Jonathan A. Parker: w25761
Using variation in minimum wages across cities and controlling for differences in business-cycle factors and long-run local economic trends, we find that following minimum wage increases, both prices and nominal spending rise modestly. These gains are larger for certain sub-categories of goods such as food away from home and in locations where low-wage workers are a larger share of employment. Further, minimum wage increases are associated with reduced total debt among households with low credit scores, higher auto debt, and increased access to credit.

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