3. Handbook Talk with Arindrajit Dube: What are the effects of raising minimum wages?
Description
In this episode of our podcast series dedicated to the new editions of the Handbook of Labor Economics, Arindrajit Dube, Provost Professor of Economics at the University of Massachusetts Amherst, tackles the contentious issue of raising the minimum wage.聽
While some advocate the minimum wage as an effective tool to combat poverty, others have argued that it could destroy jobs and increase prices. Who鈥檚 right? Prof. Dube addresses this question my summarizing what economists have learned about the impacts of minimum wages in the labor market over the last 25 years. He explains how higher minimum wages do not necessarily lead to job losses, but they could instead help firms reduce turnover and retain workers, as well as increase family incomes and reduce reliance on social assistance. 聽
Arindrajit Dube is the Provost Professor of Economics at the University of Massachusetts Amherst, a Research Associate at the National Bureau of Economic Research (NBER), and a Research Fellow at the Institue of Labor Economics (IZA). Professor Dube is considered a world-leading expert on the economic effects of minimum wage policies. His current areas of research include wage inequality, the importance of labor market competition, the effects of minimum wages on employment and inequality, the role of fairness concerns at the workplace and the role of firm wage policies in explaining the growth in inequality.
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