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Photo of William L. Wascher

William L. Wascher

Deputy Director

Program Direction Section

Research and Statistics

202-452-2812
william.l.wascher@frb.gov
Education
  • Ph.D., Economics, University of Pennsylvania, 1983
  • M.A., Economics, University of Pennsylvania, 1980
  • B.A., Economics & Mathematics, University of Delaware, 1978
  • Current Research Topics

  • Aggregate Supply
  • Minimum Wages
Fields of Interest
    • Economist

      Board of Governors of the Federal Reserve System

    • 1983 - present
    • Visiting Economist

      Bank for International Settlements, Basel, Switzerland

    • 1998 - 1999
    • Senior Staff Economist

      Council of Economic Advisers, Executive Office of the President

    • 1989 - 1990
  • Aaronson, Stephanie, Tomaz Cajner, Bruce Fallick, Felix Galbis-Reig, Christopher L. Smith, and William L. Wascher (2014). "Labor Force Participation: Recent Developments and Future Prospects," Finance and Economics Discussion Series 2014-64. Board of Governors of the Federal Reserve System (U.S.).
  • Neumark, David, J. M. I. Salas, and William Wascher (2014). "Revisiting the Minimum Wage-Employment Debate: Throwing Out the Baby with the Bathwater?" Industrial and Labor Relations Review, vol. 67, no. suppl, pp. 608-648.
  • Neumark, David, J. M. I. Salas, and William Wascher (2013). "Revisiting the Minimum Wage-Employment Debate: Throwing Out the Baby with the Bathwater?" NBER Working Papers 18681. National Bureau of Economic Research, Inc.
  • Reifschneider, David, William L. Wascher, and David W. Wilcox (2013). "Aggregate Supply in the United States: Recent Developments and Implications for the Conduct of Monetary Policy," Finance and Economics Discussion Series 2013-77. Board of Governors of the Federal Reserve System (U.S.).
  • Neumark, David, and William Wascher (2011). "Does a Higher Minimum Wage Enhance the Effectiveness of the Earned Income Tax Credit?" Industrial and Labor Relations Review, vol. 64, no. 4, pp. 712-746.
  • Figura, Andrew, and William Wascher (2010). "The Causes and Consequences of Sectoral Reallocation: Evidence from the Early Twenty-First Century," Business Economics, vol. 45, no. 1, pp. 49-68.
  • Wascher, William L. (2009). "Discussion Comments," in Mihaljek, Dubravko ed., Globalisation, Labour Markets and International Adjustment: Essays in Honour of Palle S. Andersen. Basel: Bank for International Settlements, pp. 69-76.
  • Neumark, David, and William L. Wascher (2008). Minimum wages. Cambridge, Mass.: MIT Press.
  • Neumark, David, and William Wascher (2008). "Minimum Wages and Low-Wage Workers: How Well does Reality Match the Rhetoric," Minnesota Law Review, vol. 92, no. 5, pp. 1296-1316.
  • Neumark, David, and William L. Wascher (2007). "Minimum Wages and Employment," Foundations and Trends in Microeconomics, vol. 3, no. 1-2, pp. 1-186.
  • Neumark, David, and William Wascher (2007). "Minimum Wages, the Earned Income Tax Credit, and Employment: Evidence from the Post-Welfare Reform Era," NBER Working Papers 12915. National Bureau of Economic Research, Inc.
  • Aaronson, Stephanie, Bruce Fallick, Andrew Figura, Jonathan Pingle, and William Wascher (2006). "The Recent Decline in the Labor Force Participation Rate and its Implications for Potential Labor Supply," Brookings Papers on Economic Activity, no. 1, pp. 69-134.
  • Neumark, David, Mark Schweitzer, and William Wascher (2005). "The Effects of Minimum Wages on the Distribution of Family Incomes: A Nonparametric Analysis," Journal of Human Resources, vol. 40, no. 4, pp. 867-894.
  • Wascher, William (2005). "Gauging Employment: Is the Professional Wisdom Wrong? Comment," Brookings Papers on Economic Activity, no. 2, pp. 312-319.
  • Ferguson, Roger W.,Jr., and William L. Wascher (2004). "Distinguished Lecture on Economics in Government: Lessons from Past Productivity Booms," Journal of Economic Perspectives, vol. 18, no. 2, pp. 3-28.
  • Neumark, David, and William Wascher (2004). "Minimum Wages, Labor Market Institutions, and Youth Employment: A Cross-National Analysis," Industrial and Labor Relations Review, vol. 57, no. 2, pp. 223-248.
  • Neumark, David, and William Wascher (2004). "The Influence of Labour Market Institutions on the Disemployment Effects of the Minimum Wage," CESifo DICE Report 40-47. Institute for Economic Research at the University of Munich.
  • Neumark, David, Mark Schweitzer, and William Wascher (2004). "Minimum Wage Effects Throughout the Wage Distribution," Journal of Human Resources, vol. 39, no. 2, pp. 425-450.
  • Gabriel, Stuart A., Joe P. Mattey, and William L. Wascher (2003). "Compensating Differentials and Evolution in the Quality-of-Life among U.S. States," Regional Science and Urban Economics, vol. 33, no. 5, pp. 619-649.
  • Neumark, David, and William Wascher (2003). "Minimum Wages and Skill Acquisition: Another Look at Schooling Effects," Economics of Education Review, vol. 22, no. 1, pp. 1-10.
  • Fallick, Bruce, and William Wascher (2002). "Macroeconomic Policy and the Theory of Job Search," in Carl Davidson and Stephen Woodbury ed., Search Theory and Unemployment. Boston, Mass.: Kluwer, pp. 215-237.
  • Neumark, David, and William Wascher (2002). "Do Minimum Wages Fight Poverty?" Economic inquiry, vol. 40, no. 3, pp. 315-333.
  • Neumark, David, and William Wascher (2002). "State-Level Estimates of Minimum Wage Effects: New Evidence and Interpretations from Disequilibrium Methods," Journal of Human Resources, vol. 37, no. 1, pp. 35-62.
  • Andersen, Palle, and William Wascher (2001). "Understanding the Recent Behaviour of Inflation: An Empirical Study of Wage and Price Developments in Eight Countries," in Empirical Studies of Structural Changes and Inflation. Basel: Bank for International Settlements, pp. 267-302.
  • Neumark, David, and William Wascher (2001). "Using the EITC to Help Poor Families: New Evidence and a Comparison with the Minimum Wage," National Tax Journal, vol. 54, no. 2, pp. 281-317.
  • Neumark, David, and William Wascher (2001). "Minimum Wages and Training Revisited," Journal of Labor Economics, vol. 19, no. 3, pp. 563-595.
  • Neumark, David, and William Wascher (2000). "Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania: Comment," American Economic Review, vol. 90, no. 5, pp. 1362-1396.
  • Andersen, Palle, and William Wascher (1999). "Sacrifice Ratios and the Conduct of Monetary Policy in Conditions of Low Inflation," Working Paper 82. Bank for International Settlements.
  • Gabriel, Stuart A., Joe P. Mattey, and William L. Wascher (1999). "House Price Differentials and Dynamics: Evidence from the Los Angeles and San Francisco Metropolitan Areas," Federal Reserve Bank of San Francisco Economic Review, no. 1, pp. 3-22.
  • Krane, Spencer, and William Wascher (1999). "The Cyclical Sensitivity of Seasonality in U.S. Employment," Journal of Monetary Economics, vol. 44, no. 3, pp. 523-553.
  • Neumark, David, Mark Schweitzer, and William Wascher (1999). "Will Increasing the Minimum Wage Help the Poor?" Economic Commentary Feb issue. Federal Reserve Bank of Cleveland.
  • William Wascher (1999). "The use of Labour Cost Information in Short-Term Economic Analysis: The US Experience," in Workshop on the Role of Labour Cost Information in Short-Term Analysis in the Context of Monetary Union. European Commission, pp. 43-54.
  • Neumark, David, and William Wascher (1998). "Is the Time-Series Evidence on Minimum Wage Effects Contaminated by Publication Bias?" Economic inquiry, vol. 36, no. 3, pp. 458-470.
  • Neumark, David, and William Wascher (1996). "The Effects of Minimum Wages on Teenage Employment and Enrollment: Evidence from Matched CPS Surveys," in Polachek, Solomon,W. ed., Research in Labor Economics, Vol. 15. Conn. and London: JAI Press, pp. 25-63.
  • Gabriel, Stuart A., Joe P. Mattey, and William L. Wascher (1995). "The Demise of California Reconsidered: Interstate Migration Over the Economic Cycle," Federal Reserve Bank of San Francisco Economic Review, no. 2, pp. 30-45.
  • Lebow, David E., David J. Stockton, and William L. Wascher (1995). "Inflation, Nominal Wage Rigidity, and the Efficiency of Labor Markets," Finance and Economics Discussion Series 95-45. Board of Governors of the Federal Reserve System (U.S.).
  • Neumark, David, and William Wascher (1995). "Minimum Wage Effects on Employment and School Enrollment," Journal of Business and Economic Statistics, vol. 13, no. 2, pp. 199-206.
  • Neumark, David, and William Wascher (1995). "Minimum-Wage Effects on School and Work Transitions of Teenagers," American Economic Review, vol. 85, no. 2, pp. 244-249.
  • Neumark, David, and William Wascher (1995). "Reconciling the Evidence on Employment Effects of Minimum Wages: A Review of our Research Findings," Finance and Economics Discussion Series 95-53. Board of Governors of the Federal Reserve System (U.S.).
  • Neumark, David, and William Wascher (1995). "The Effect of New Jersey's Minimum Wage Increase on Fast-Food Employ-Ment: A Re-Evaluation using Payroll Records," NBER Working Papers 5224. National Bureau of Economic Research, Inc.
  • Oliner, Stephen D., and William L. Wascher (1995). "Is a Productivity Revolution Under Way in the United States?" Challenge, vol. 38, no. 6, pp. 18-30.
  • Neumark, David, and William Wascher (1994). "Employment Effects of Minimum and Subminimum Wages: Panel Data on State Minimum Wage Laws: Reply," Industrial and Labor Relations Review, vol. 47, no. 3, pp. 497-512.
  • Gabriel, Stuart A., Janice Shack-Marquez, and William L. Wascher (1993). "Does Migration Arbitrage Regional Labor Market Differentials?" Regional Science and Urban Economics, vol. 23, no. 2, pp. 211-233.
  • Gabriel, Stuart A., Janice Shack-Marquez, and William L. Wascher (1993). "The Effects of Regional House Price and Labor Market Variability on Interregional Migration: Evidence from the 1980s," in Kingsley, G.,Thomas, Margery Turner Austin eds., Housing Markets and Residential Mobility. Lanham, Md.: Urban Institute Press; distributed by University Press of America, pp. 31-51.
  • Gabriel, Stuart A., Janice Shack-Marquez, and William L. Wascher (1992). "Regional House-Price Dispersion and Interregional Migration," Journal of Housing Economics, vol. 2, no. 3, pp. 235-256.
  • Neumark, David, and William Wascher (1992). "Employment Effects of Minimum and Subminimum Wages: Panel Data on State Minimum Wage Laws," Industrial and Labor Relations Review, vol. 46, no. 1, pp. 55-81.
  • Neumark, David, and William L. Wascher (1991). "Can we Improve upon Preliminary Estimates of Payroll Employment Growth?" Journal of Business and Economic Statistics, vol. 9, no. 2, pp. 197-205.
  • Wachter, Michael L., and William L. Wascher (1991). "Leveling the Peaks and Troughs of the Demographic Cycle: An Application to School Enrollment Rates: A Reply," Review of Economics and Statistics, vol. 73, no. 3, pp. 575-576.
  • Gay, Robert S., and William L. Wascher (1989). "Persistence Effects in Labor Force Participation," Eastern Economic Journal, vol. 15, no. 3, pp. 177-187.
  • Montgomery, Edward, and William Wascher (1988). "Creative Destruction and the Behavior of Productivity Over the Business Cycle," Review of Economics and Statistics, vol. 70, no. 1, pp. 168-172.
  • Montgomery, Edward, and William L. Wascher (1987). "Race and Gender Wage Inequality in Services and Manufacturing," Industrial Relations, vol. 26, no. 3, pp. 284-290.
  • Shack-Marquez, Janice, and William L. Wascher (1987). "Some Direct Evidence on the Importance of Borrowing Constraints to the Labor Force Participation of Married Women [the Labor Force Participation Behavior of Married Women Under Conditions of Constraints on Borrowing]," Journal of Human Resources, vol. 22, no. 4, pp. 593-602.
  • Wachter, Michael L., and William L. Wascher (1986). "Cyclical Fluctuations in Productivity in a Long-Run Demand Equation," Working Paper Series 61. Board of Governors of the Federal Reserve System (U.S.).
  • Wascher, William L., Susan W. Burch, and John L. Goodman Jr. (1986). "Economic Implications of Changing Population Trends," Federal Reserve Bulletin, vol. 72, no. 12, pp. 815-826.
  • William Wascher (1986). "Assessing the Relative Efficiency of Hausmanís Test Under Bahadur Efficiency Considerations," Economics Letters, vol. 12, no. 4, pp. 343-347.
  • Marquez, Jaime, Janice Shack-Marquez, and William Wascher (1985). "Statistical Inference, Model Selection and Research Experience: A Multinomial Model of Data Mining," Economics Letters, vol. 18, no. 1, pp. 39-44.
  • Wachter, Michael L., and William L. Wascher (1984). "Leveling the Peaks and Troughs in the Demographic Cycle: An Application to School Enrollment Rates," Review of Economics and Statistics, vol. 66, no. 2, pp. 208-215.
  • Wachter, Michael, and William Wascher (1983). "Labor Market Policies in Response to Structural Changes in Labor Demand," in Industrial Change and Public Policy. Kansas City: Federal Reserve Bank of Kansas City, pp. 177-216.

Professional Affiliation

  • Executive Committee Member, National Bureau of Economic Research Conference on Research in Income and Wealth, 2010-2014
  • Chair, BLS Data Users Advisory Committee, 2012-2014
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Last update: October 6, 2014