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Title: Effects of Minimum Wages on Human Capital Formation
Resulting in 1 citation.
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Leighton, Linda S. Mincer, Jacob |
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Effects of Minimum Wages on Human Capital Formation In: Economics of Legal Minimum Wages. S. Rattenberg, ed. Washington, DC: American Enterprise Institute for Public Policy Research, 1981 Cohort(s): Young Men Publisher: American Enterprise Institute for Public Policy Research Keyword(s): Human Capital Theory; Income Dynamics/Shocks; Job Tenure; Job Training; Job Turnover; Minimum Wage; Schooling; Vocational Education Permission to reprint the abstract has not been received from the publisher. The hypothesis that minimum wages tend to discourage on-the-job training is largely supported by our empirical analysis. Direct effects on reported job training and corollary effects on wage growth as estimated in microdata of the NLS of Young Men and Michigan Income Dynamics (MID) are consistently negative and stronger at lower education levels. Apart from a single exception, no effects are observable among the higher wage group whose education exceeds high school. The effects on job turnover are: a decrease in turnover among young NLS whites, but an increase among young NLS blacks and MID whites. Whether these apparently conflicting findings on turnover reflect a distinction between short and long run adjustments in jobs is a question that requires further testing. |
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Bibliography Citation
Leighton, Linda S. and Jacob Mincer. "Effects of Minimum Wages on Human Capital Formation" In: Economics of Legal Minimum Wages. S. Rattenberg, ed. Washington, DC: American Enterprise Institute for Public Policy Research, 1981
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