Denis Sosinskiy
@dsosinskiy
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PhD Candidate in Economics at UC Davis. Labor economics, applied microeconomics. he/him
Davis, CA
Joined February 2021
Oh, and we did not detect any effects on employment. 6/7
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About 70 percent of the increased costs were passed on in higher prices, suggesting reduced restaurant profit margins. Higher prices likely raised restaurant revenue, implying franchise owners will pay larger royalty fees to their parent companies. 5/7.
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The policy increased prices by around 3.7 percent—about 15 cents for a $4 cheeseburger. 4/7
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Results: The policy increased average hourly pay by a remarkable 18 percent. 3/7
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We use diff-in-diff methods, novel restaurant data from over 35,000 jobs posted on Glassdoor, and collect price data from 1,585 restaurants in CA and 1,694 restaurants in control states. 2/7.
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Our new working paper with Michael Reich @IRLEUCB is out!. "Sectoral Wage-Setting in California". We provide the first causal evidence of the (highest in the US) $20 minimum wage for large fast-food chains in California, implemented on April 1, 2024. 1/7.
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