Restaurant Prices and the Minimum Wage
Copyright policy )Restaurant Prices and the Minimum Wage
In this paper, we examine the effect of the minimum wage on restaurant prices. We contribute both to the study of economic impact of the minimum wage and to the study of microeconomic patterns of price stickiness. For this purpose, we use a unique data set of individual price quotes collected to calculate the Consumer Price Index in France and we estimate a price rigidity model based on a flexible rule. We find a positive and significant impact of the minimum wage on prices. The effect of the minimum wage on prices is, however, very protracted. A change in the minimum wage takes more than a year to fully pass through to retail prices.
- Institute for the Study of Labor Germany
- French National Centre for Scientific Research France
- Centre national de la recherche scientifique France
- Sciences Po France
- Banque de France France
Lohnpolitik, Price stickiness ; minimum wage ; inflation, restaurant prices., ddc:330, restaurant prices, Price stickiness, minimum wage, inflation, restaurant prices, Demand and Price Analysis, Industrial Organization,, L11, Frankreich, Mindestlohn, Inflation; Minimum wage; Price stickiness; Restaurant prices, minimum wage, price stickiness, minimum wage, inflation, restaurant prices, Price stickiness, Gastronomie, inflation, Preisniveau, E31, D43, jel: jel:E31, jel: jel:D43, jel: jel:L11
Lohnpolitik, Price stickiness ; minimum wage ; inflation, restaurant prices., ddc:330, restaurant prices, Price stickiness, minimum wage, inflation, restaurant prices, Demand and Price Analysis, Industrial Organization,, L11, Frankreich, Mindestlohn, Inflation; Minimum wage; Price stickiness; Restaurant prices, minimum wage, price stickiness, minimum wage, inflation, restaurant prices, Price stickiness, Gastronomie, inflation, Preisniveau, E31, D43, jel: jel:E31, jel: jel:D43, jel: jel:L11
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