Arin Dube | |
---|---|
Academic career | |
Institution | University of Massachusetts Amherst |
Field | Labor economics |
Alma mater | Stanford University (BA, MA) University of Chicago (PhD) |
Website | Official website |
Arindrajit (Arin) Dube is a professor of economics at the University of Massachusetts Amherst, known internationally for his empirical research on the effects of minimum wage policies. [1] [2] He is among the foremost scholars regarding the economic impact of minimum wages. [3] In 2019, he was asked by the UK Treasury to conduct a review of the evidence on the impact of minimum wages, which informed the decision to set the level of the National Living Wage. [4] [5] His work is focused on the economics of the labor market, including the role of imperfect competition, institutions, norms, and behavioral factors that affect wage setting and jobs.
Dube graduated from Roosevelt High School in Seattle in 1991. He received his BA in economics (with honors) and MA in international development policy from Stanford University in 1996. He received his PhD in economics from the University of Chicago in 2003, and was a postdoctorate scholar at UC Berkeley prior to joining University of Massachusetts, Amherst. He is also a research associate at the National Bureau of Economic Research. He is the brother of economist Oeindrila Dube. [6]
Dube has published dozens of works in labor economics, health economics, public finance, and political economy. He is one of the leading scholars of minimum wage effects on employment [7] and inequality, [8] and has also studied the role of fairness concerns in wage-setting, the nature and extent of competition in labor markets, and the role of firm wage policies in explaining inequality growth, and impact of unions in the labor market. He has testified on the Minimum Wage before the U.S. Senate Committee on Health, Education, Labor & Pensions, [9] and written about this subject in the New York Times. [10] He has studied employment patterns in all border counties in the U.S. that were affected by state-level minimum wages on one side of state border but not the other side. [3] Dube's other research includes the impact of outsourcing in service occupations on wages and inequality. [11] His research on imperfect competition (monopsony) in the labor market includes experimental evidence from online labor markets. [12] He has also written on how the 2004 expiration of the Federal Assault Weapons Ban in the United States led to a surge in violence in Mexico, [13] and how top-secret coup authorizations by the CIA were capitalized into asset prices of highly exposed American corporations. [14]
A minimum wage is the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. Most countries had introduced minimum wage legislation by the end of the 20th century. Because minimum wages increase the cost of labor, companies often try to avoid minimum wage laws by using gig workers, by moving labor to locations with lower or nonexistent minimum wages, or by automating job functions. Minimum wage policies can vary significantly between countries or even within a country, with different regions, sectors, or age groups having their own minimum wage rates. These variations are often influenced by factors such as the cost of living, regional economic conditions, and industry-specific factors.
New Keynesian economics is a school of macroeconomics that strives to provide microeconomic foundations for Keynesian economics. It developed partly as a response to criticisms of Keynesian macroeconomics by adherents of new classical macroeconomics.
A living wage is defined as the minimum income necessary for a worker to meet their basic needs. This is not the same as a subsistence wage, which refers to a biological minimum, or a solidarity wage, which refers to a minimum wage tracking labor productivity. Needs are defined to include food, housing, and other essential needs such as clothing. The goal of a living wage is to allow a worker to afford a basic but decent standard of living through employment without government subsidies. Due to the flexible nature of the term "needs", there is not one universally accepted measure of what a living wage is and as such it varies by location and household type. A related concept is that of a family wage – one sufficient to not only support oneself, but also to raise a family.
Price controls are restrictions set in place and enforced by governments, on the prices that can be charged for goods and services in a market. The intent behind implementing such controls can stem from the desire to maintain affordability of goods even during shortages, and to slow inflation, or, alternatively, to ensure a minimum income for providers of certain goods or to try to achieve a living wage. There are two primary forms of price control: a price ceiling, the maximum price that can be charged; and a price floor, the minimum price that can be charged. A well-known example of a price ceiling is rent control, which limits the increases that a landlord is permitted by government to charge for rent. A widely used price floor is minimum wage. Historically, price controls have often been imposed as part of a larger incomes policy package also employing wage controls and other regulatory elements.
David Edward Card is a Canadian-American labour economist and the Class of 1950 Professor of Economics at the University of California, Berkeley, where he has been since 1997. He was awarded half of the 2021 Nobel Memorial Prize in Economic Sciences "for his empirical contributions to labour economics", with Joshua Angrist and Guido Imbens jointly awarded the other half.
Edward Hastings Chamberlin was an American economist. He was born in La Conner, Washington, and died in Cambridge, Massachusetts.
In the United States, the minimum wage is set by U.S. labor law and a range of state and local laws. The first federal minimum wage was instituted in the National Industrial Recovery Act of 1933, signed into law by President Franklin D. Roosevelt, but later found to be unconstitutional. In 1938, the Fair Labor Standards Act established it at $0.25 an hour. Its purchasing power peaked in 1968, at $1.60 In 2009, it was increased to $7.25 per hour, and has not been increased since.
David Neumark is an American economist and a Chancellor's Professor of Economics at the University of California, Irvine, where he also directs the Economic Self-Sufficiency Policy Research Institute.
In economics, a monopsony is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers. The microeconomic theory of monopsony assumes a single entity to have market power over all sellers as the only purchaser of a good or service. This is a similar power to that of a monopolist, which can influence the price for its buyers in a monopoly, where multiple buyers have only one seller of a good or service available to purchase from.
Alan Manning is a British economist and professor of economics at the London School of Economics.
The Fight for $15 is an American political movement advocating for the minimum wage to be raised to USD$15 per hour. The federal minimum wage was last set at $7.25 per hour in 2009. The movement has involved strikes by child care, home healthcare, airport, gas station, convenience store, and fast food workers for increased wages and the right to form a labor union. The "Fight for $15" movement started in 2012, in response to workers' inability to cover their costs on such a low salary, as well as the stressful work conditions of many of the service jobs which pay the minimum wage.
Robin Burgess, is a Professor of Economics, Co-founder and Director of the International Growth Centre, as well as Co-Founder and Director of the Economics of Energy and the Environment (EEE) program at the London School of Economics and Political Science.
Thomas Lemieux is a Canadian economist and professor at the University of British Columbia.
Stephen Jonathan Machin is a British economist and professor of economics at the London School of Economics (LSE). Moreover, he is currently director of the Centre for Economic Performance (CEP) and is a fellow of the British Academy, the Society of Labor Economists and the European Economic Association. His current research interests include labour market inequality, the economics of education, and the economics of crime.
Pierre Cahuc is a French economist who currently works as Professor of Economics at Sciences Po. He is Program Director for the IZA Institute of Labor Economics's programme "Labour Markets" and research fellow at CEPR. His research focuses mainly on labour economics and its relationship with macroeconomics. In 2001, he was awarded the Prize of the Best Young Economist of France for his contributions to economic research. He belongs to the most highly cited economists in France and Europe's leading labour economists.
Francis Kramarz is a French economist who works as Professor at the École Nationale de la Statistique et de l'Administration Économique (ENSAE), where he has been directing the Center for Research in Economics and Statistics (CREST). He is one of the leading labour economists in France.
Nicole M. Fortin is a Professor in the Vancouver School of Economics (VSE) at University of British Columbia, where she obtained her Ph.D. in Economics. Before moving to Vancouver, B.C. in 1999, Fortin taught at Université de Montréal for ten years in her hometown. She was the President of the Canadian Women Economic Network (CWEN) in 2013–2014. Her research focus is placed on three main themes, including the linkage between labour market institutions and wage inequality, issues related to the economic progress of gender equality, as well as contributions to decomposition methods. Notably, Fortin contributed to the ground-breaking research presented in the 2015 World Happiness Report by examining how various factors impact feelings of happiness for individuals, and societal well-being overall, across the globe.
Judith K. Hellerstein is the Chair of the Economics department and Professor of Economics at the University of Maryland. She is a former co-editor of The Journal of Human Resources, a Research Associate of the National Bureau of Economic Research, and she chairs the Technical Review Committee for the National Longitudinal Surveys. She served as Chief Economist of the Council of Economic Advisers during 2011–2012.
Patrick McGraw Kline is an U.S. American economist and Professor of Economics of the University of California at Berkeley. In 2018, his research was awarded the Sherwin Rosen Prize by the Society of Labor Economists for "outstanding contributions in the field of labor economics". In 2020, he was awarded the prestigious IZA Young Labor Economist Award.
The gift-exchange game, also commonly known as the gift exchange dilemma, is a common economic game introduced by George Akerlof and Janet Yellen to model reciprocacy in labor relations. The gift-exchange game simulates a labor-management relationship execution problem in the principal-agent problem in labor economics. The simplest form of the game involves two players – an employee and an employer. The employer first decides whether they should award a higher salary to the employee. The employee then decides whether to reciprocate with a higher level of effort due to the salary increase or not. Like trust games, gift-exchange games are used to study reciprocity for human subject research in social psychology and economics. If the employer pays extra salary and the employee puts in extra effort, then both players are better off than otherwise. The relationship between an investor and an investee has been investigated as the same type of a game.