In the U.S., we’re seeing an increasing number of calls to increase the national minimum wage to $15/hour. Many states and municipalities have already passed minimum wage hikes in the last several years, and a variety of proposals are under consideration at the federal level.

However, economists remain uncertain as to the long-term impact of these policies on the welfare of American workers. Some studies suggest that raising minimum wage has a small negative effect on employment rates, while others find no such adverse effect on employment. READ MORE