Author Archives: Menzie Chinn

Did States that Raised the Minimum Wage Have Faster or Slower Employment Growth?

The answer is faster…so contra the arguments of the Wisconsin Restaurant Association, and Wisconsin Manufacturers Association, it seems unlikely that there are large negative employment impacts from minimum wage increases. Oh, also contra Sabia for the Employment Policies Institute (who has still not responded to my repeated requests for his data, after six months).

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Thank Goodness Wisconsin Turned Down High Speed Rail!

From “Fast trains, supply networks, and firm performance” in VoxEU:

We find that sales and measured productivity rose substantially for firms near the new (high speed rail) stations after the opening. Firms in industries with greater purchased input shares outperformed firms in industries with lower purchased input shares.

So Wisconsin dodged the fate of having higher firm productivity.

The report is authored by Bernard, Moxnes, and Saito.

Update, 10/1 12:26PM Pacific: And here is the IMF’s assessment of the role of infrastructure investment. Not that I expect it to convince all the folks who think we should privatize all roads, airports, harbors, and train service…

The Rising Dollar and Macroeconomic and Policy Prospects

From Buoyant Dollar Recovers Its Luster, Underlining Rebound in U.S. Economy in today’s NY Times:

The United States dollar, after one of its most prolonged weak spells ever, has now re-emerged as the preferred currency for global investors. Across trading desks in New York, London and elsewhere, analysts are rushing to raise their dollar forecasts based on the resurgence in the American economy.

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