We use price data underlying the Consumer Price Index to assess how restaurants, whose prices are generally quite sticky, respond to minimum wage increases. Aggregate prices rise, quickly, by amounts reflecting the increase in costs, and they rise more among fast food outlets and in low-wage...

We use price data underlying the Consumer Price Index to assess how restaurants, whose prices are generally quite sticky, respond to minimum wage increases. Aggregate prices rise, quickly, by amounts reflecting the increase in costs, and they rise more among fast food outlets and in low-wage...

This paper tests whether state fiscal policy alters neighborhood income homogeneity. One implication of the Tiebout model is that within-community homogeneity declines as a result of an exogenous decrease in the ability of jurisdictions to set local tax and expenditure levels. The Property tax...

Studies that attempt to measure the impact of neighborhoods on children's outcomes are susceptible to bias because families choose where to live. As a result, the effect of family unobservables, such as the importance parents place on their children's welfare, and other unobservables that are...

We document two new facts about the market-level response to minimum wage hikes: firm exit and entry both rise. These results pose a puzzle: canonical models of firm dynamics predict that exit rises but that entry falls. We develop a model of firm dynamics based on putty-clay technology and show...

Based on findings from a survey of Black Households, this paper highlights socioeconomic and demographic factors that many influence the utilization of different financial markets. In addition, it discusses the potentially important role that informal financial networks can play in racial/ethnic...

This report describes a farm typology developed by the Economic Research Service (ERS), which categorizes farms into more homogeneous groups than classifications based on sales volume alone, producing a more effective policy development tool. The typology is used to describe U.S. farm structure.