Minimum Wage Elasticity Scatterplot
The W.E. Upjohn Institute in Kalamazoo, Michigan is about to publish a book by Dale Belman and Paul Wolfson on the minimum wage called What Does the Minimum Wage Do? The authors have conducted a meta-analysis of practically every study on the minimum wage in the last 20 years. For the newsletter article—a short summary that Upjohn will publish just prior to the release of the book—the publisher wants to present a visual showing the range of elasticities that pertains to the effect of the minimum wage on employment (Excel data file is here). The publisher would prefer to present the data as a histogram rather than a scatterplot, but is seeking help from the HelpMeViz community.
**Update: Data with standard errors.
Here’s a simple histogram version of the chart. The data file only contains the elasticity estimates, so a histogram may be the best approach. I used bin widths of 0.1.
Histogram of elasticities are s best. Measuring 1/se on y axis is misleading, because elasticities close to zero are likely to have small SE. This exaggerates the precision (1/SE) near 0.
I did this up in Tableau pretty quickly this morning. Think it’s pretty nice. I opted to stick with their scatterplot and use alpha transparency to work with their large amount of data rather than gowith the histogram. The thought being that the scatterplot actually drives home the point that there are a great deal of studies at each point whiich a histogram can’t. I have also sized the points according to their precision as well.
http://public.tableausoftware.com/views/UpjohnInstituteHelpMeViz/UpjohnInstituteHelpMeViz?:embed=y&:display_count=no
Just curious what happened here. I quite liked my transparency plot w/ annotation.
The publisher made a decision on what to use and it should be out with their next newsletter (sometime in April). I will post as soon as it comes available. Thanks for checking.
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