The paper can either be a theoretical exploration or an empirical analysis of the topic.Final papers should be at least 3000 words, double-spaced, Times New Roman, Font size 12 with 1-inch margins, with at least 10 citations in the APA format.Please include annotated bibliographies (literature review) of at least three peer-reviewd articles, proposal, and outline.
Does raising the minimum wage impact the well-being of the age group of 18-24 years old.
The impact of raising minimum wage on the labor market for them
How raising minimum wage changes education decision
How the combining effect on labor market and education decision increase income inequality between those high school graduates and degree holders.
Answer preview
Kalenkoski and Lacombe (2007) explore the interaction of an increase in the minimum wages and youth employment based on county-level statistics using spatial econometric techniques. The analysis highlight that a 10% increase in the minimum wages causes a 3.2% decrease in youth employment (Kalenkoski and Lacombe, 2007). Since the analysis involves a control on the spatial correlation, it yields significant estimates of a high minimum wage’s negative effect. According to Kalenkoski and Lacombe (2007), the decrease in hiring new workers is 28% higher based on control on spatial correlation. The use of spatial correlation analysis unfolds underestimating the negative effects of increasing the minimum wage, leading to misinformation in the policy process (Kalenkoski and Lacombe, 2007).
