Deepak Lal on Minimum-Wage Legislation and the Relevance of the Monopsony Model

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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.

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.

Here, however, a draft version in pdf.

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