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Autor:innen: 
Erscheinungsjahr: 
2011
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 6237
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
We present a theorem helpful in estimating the mean and variance of a linear function with arbitrary multivariate randomness in its coefficients and variables. We derive a generalized decomposition result from two random linear functions in which the result can be applied to most models using event study analysis. Taking the 1989 minimum wage hike as an example, we found that the apparent lack of an effect is a consequence of two off-setting forces: 1) a negative effect arising from firm-specific traits and 2) a positive effect arising from market performance. In sum, we bring to the analysis a method that helps provide additional insights and can be applied to much of the work using event study.
Schlagwörter: 
excess returns
minimum wage
decomposition
event study
JEL: 
G14
J31
J38
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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