@article{Keller:303916,
      recid = {303916},
      author = {Keller, Andrew and Boland, Michael and Çakır, Metin},
      title = {The Impact of an Increase in the Federal Minimum Wage on  the Egg Industry},
      address = {2020-07},
      number = {1701-2020-599},
      series = {Staff Paper P20-4},
      pages = {40},
      year = {2020},
      abstract = {Increasing the federal minimum wage is a major issue in  the 2020 presidential campaign. This paper’s objective is  to evaluate the impact of an increase in the minimum wage  on an industry, eggs, where labor is a key input. This  analysis was carried out using an equilibrium displacement  model. When spread across the industry, the total negative  effects due to increasing the minimum wage does not appear  to be economically significant. This is due in large part  to the Iowa egg industry’s current equilibrium wage of  $13.50 an hour. Consequently, imposing a $15.00 an hour  minimum wage would be a difference of only $1.50 assuming  the egg industry does not increase it further. However, to  stay competitive, egg industry employers would likely need  to increase its wage to some level above $15.00 should the  minimum wage be increased to that level. Despite these  seemingly small effects, egg producers may nonetheless  struggle in the short run to respond to immediate labor  expenses should the state (or nation) not phase in its  minimum wage over the course of several years. Most likely,  if Iowa were to increase its minimum wage to $15.00 an  hour, it would follow the lead of other states and  incrementally increase its minimum wage over the course of  many years until reaching $15.00.},
      url = {http://ageconsearch.umn.edu/record/303916},
      doi = {https://doi.org/10.22004/ag.econ.303916},
}