Publications by Carl McPherson
High Minimum Wages and the Monopsony Puzzle
May 1, 2023 • Working Papers • By Justin C. Wiltshire, Carl McPherson and Michael Reich
Abstract We present the first causal analysis of recent large minimum wage increases, focusing on 47 larger U.S. counties that reached $15 or more by 2022q1. Using stacked county-level synthetic…
Are $15 Minimum Wages Too High?
September 12, 2022 • Working Papers • By Carl McPherson, Michael Reich and Justin C. Wiltshire
Abstract In January 2022 California became the first state with a $15 minimum wage, a remarkable 87.5 percent increase over its $8 level in early 2014. In the same period,…