Seminář McWages: the US low-wage structure... 28.11.2024 v Českých Budějovicích
Thanks to standardized work protocol and technology of McDonald’s restaurants, the hourly wage of McDonald’s Basic Crew enables wage comparisons under near-identical skill inputs and hedonic job conditions. McWages capture labor costs in entry-level jobs, while the Big Macs (earned) Per Hour (BMPH) index measures corresponding purchasing power of wages. We document large and growing geographical wage differences in standardized jobs using data covering most U.S. counties during 2016-2023. Before the Covid-19 pandemic, there was no BMPH growth where minimum wages stayed constant, but the pandemic wage increase, which diminished the importance of minimum wages, was stronger in these areas. In particular, the pass-through from minimum wages to wages and prices is much lower after the pandemic. We also explore the monopsony power at McDonald's restaurants using the 2018 introduction of Amazon $15 company minimum wage policy and pre-existing distances between Amazon warehouses and McDonald's restaurants. We find that McDonald's does increase wages in response to the Amazon policy when restaurants are in the close proximity of Amazon warehouses, consistent with monopsony power.
|
Vážení členové České společnosti ekonomické, |
|
"McWages: the US low-wage structure, minimum wage effects, monopsony" |
|
dne 26. listopadu od 13:15 na Ekonomické fakultě Jihočeské univerzity v Českých Budějovicích, v učebně F004 |
|
Přednášející: Prof. Ing. Štěpán Jurajda, Ph.D., DSc. Mellon Endowment Professor with Tenure, CERGE-EI |
|
Seminář proběhne v anglickém jazyce, pouze prezenčně, bez nahrávání. |
CB_2024_11_26_Stepan Jurajda.docx (8.11.2024)
Zpět