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by kasey_junk
978 days ago
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I don’t particularly have a claim other than you can’t use minimum wage causes inflation as an axiom because it is theoretically contentious and doesn’t hold very strongly empirically. The claim that it lags behind the wage change is empirically also not found. |
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That's within the quote on the comment that you are responding to ... "cumulative wage-price elasticity from three months before up to three months after a minimum wage hike was estimated at about 0.07".
They found that increasing the minimum wage lead was followed by a 0.7% increase in prices 3 months later. 3 months later is "lagging".