Replication data for: The Spending and Debt Response to Minimum Wage Hikes

Principal Investigator(s): View help for Principal Investigator(s) Daniel Aaronson; Sumit Agarwal; Eric French

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Project Citation:

Aaronson, Daniel, Agarwal, Sumit, and French, Eric. Replication data for: The Spending and Debt Response to Minimum Wage Hikes. Nashville, TN: American Economic Association [publisher], 2012. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-06. https://doi.org/10.3886/E116110V1

Project Description

Summary: 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. (JEL D12, D14, D91, J38)

Scope of Project

JEL Classification:
      D12 Consumer Economics: Empirical Analysis
      D14 Household Saving; Personal Finance
      D15 Intertemporal Household Choice; Life Cycle Models and Saving
      J38 Wages, Compensation, and Labor Costs: Public Policy

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V1 [2019-12-06]

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