More or Less: Behind the Stats The prize-winning economics of migration and the minimum wage
Oct 17, 2021
Discover how groundbreaking research is reshaping our understanding of immigration and wages. Learn about the Mariel Boatlift's surprising impact, debunking the myth that immigrants lower wages for locals. Explore significant findings on minimum wage hikes, revealing they don't necessarily lead to job losses. Join insights from Nobel Prize winners who transformed economic analysis, emphasizing the importance of correlation versus causation. This discussion unveils the often misunderstood connections between migration, wages, and labor markets.
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Correlation vs. Causation
- Economists often face the challenge of distinguishing correlation from causation.
- This means determining if one factor causes another or if they simply appear together.
Minimum Wage Study
- Card and Krueger studied the impact of minimum wage increases in New Jersey and Pennsylvania.
- They found no evidence of job losses after a significant minimum wage hike in New Jersey.
Mariel Boatlift Study
- David Card studied the Mariel boatlift's impact on Miami's low-skilled labor market.
- He found no negative wage effects despite a large influx of Cuban immigrants.
