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Minimum Wages and the Farm Labor Market
Author(s) -
Gardner Bruce
Publication year - 1972
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1239163
Subject(s) - economics , labour economics , minimum wage , efficiency wage , marginal product , productivity , wage , legislation , labor demand , supply and demand , production (economics) , microeconomics , political science , law , macroeconomics
Effects of U. S. minimum wage legislation on farm wage rates and employment are investigated by a reduced‐form supply‐demand model of the hired farm labor market. Results indicate the extension of minimum wages to some farm labor has significantly increased farm wages and reduced employment, as the marginal productivity theory of factor demand would predict.