This book attempts to make sense of the research on the minimum wage that began in the early 1990s. The authors look at who is affected by the minimum wage, both directly and indirectly; which observable, measurable variables (e.g., wages, employment, school enrollment) the minimum wage influences; how long it takes for the variables to respond to the minimum wage and the size and desirability of the effect; why the minimum wage has the results it does (and not others); and the workers most likely to be affected by changes to the minimum wage.

Contents 1. Introduction Part 1: Micro 2. Employment 3. Hours of Employment 4. Meta-Analysis 5. Wages and Earnings 6. Human Capital 7. Poverty and Inequality Part 2: Macro 8. Gross Flows in the Labor Market 9. Labor Force Participation Rate, Unemployment, and Vacancies 10. The Product Market 11. Conclusion