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Minimum wages and housing rents: Theory and evidence
Regional Science and Urban Economics ( IF 2.438 ) Pub Date : 2021-02-03 , DOI: 10.1016/j.regsciurbeco.2021.103649
Atsushi Yamagishi

I analyze the effect of minimum wage hikes on housing rents using exogenous variation in minimum wages across local labor markets in Japan. I estimate that in low-quality rental housing market, a 10% minimum wage increase induces a 2.5%–4.5% increase in rents. Minimum wage hikes benefit workers in light of a spatial equilibrium model showing that changes in housing market rents work as a sufficient statistic for measuring utility changes arising from changes in minimum wages. The increase in housing rents also implies an unintended benefit for homeowners.



中文翻译:

最低工资和房屋租金:理论和证据

我使用日本本地劳动力市场上最低工资的外生变化来分析最低工资上涨对房屋租金的影响。我估计在低质量的租赁住房市场中,最低工资上涨10%会导致租金上涨2.5%至4.5%。根据空间均衡模型,最低工资上涨使工人受益,该模型表明,住房市场租金的变化可作为衡量由最低工资变化引起的效用变化的充分统计数据。房屋租金的上涨也意味着房主意想不到的利益。

更新日期:2021-02-10
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