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Deepak Lal on Minimum-Wage Legislation and the Relevance of the Monopsony Model
Posted By Don Boudreaux On October 21, 2013 @ 12:48 pm In Economics,Science,Seen and Unseen,Work | Comments Disabled
I recall years ago reading a fine paper by U.C.L.A. economist Deepak Lal on the minimum wage – a paper that is in large part a scholarly response to the now-famous minimum-wage study by David Card and Alan Krueger which is claimed by many to offer real-world evidence that at least some hikes in the minimum wage increase the employment rate of low-skilled workers.
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 This version of Deepak’s 1995 paper, published by the I.E.A. in London, is the one I read, but I can no longer lay my hands on it: http://www.amazon.com/The-Minimum-Wage-Occasional-Paper/dp/0255363443
 Here, however, a draft version in pdf: http://www.econ.ucla.edu/workingpapers/wp723.pdf
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