@TechReport{iza:izadps:dp9864,
            	author={Bazen, Stephen and Marimoutou, Velayoudom},
            	title={Federal Minimum Wage Hikes Do Reduce Teenage Employment: The Time Series Effects of Minimum Wages in the US Revisited},
            	year={2016},
	month={Apr},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={9864},
            	url={https://www.iza.org/index.php/publications/dp9864},
	abstract={In 2002 we published a paper in which we used state space time series methods to analyse the teenage employment-federal minimum wage relationship in the US (Bazen and Marimoutou, 2002). The study used quarterly data for the 46 year period running from 1954 to 1999. We detected a small, negative but statistically significant effect of the federal minimum wage on teenage employment, at a time when some studies were casting doubt on the existence of such an effect.
In this note we re-estimate the original model with a further 16 years of data (up to 2015). We find that the model satisfactorily tracks the path of the teenage employment-population ratio over this 60 year period, and yields a consistently negative and statistically significant effect of minimum wages on teenage employment. The conclusion reached is the same as in the original paper, and the elasticity estimates very similar: federal minimum wage hikes lead to a reduction in teenage employment with a short run elasticity of around – 0.13. The estimated long run elasticity of between – 0.37 and – 0.47 is less stable, but is nevertheless negative and statistically significant.},
	keywords={minimum wage;teenage employment;state space methods;unobserved components model},
            }