following the rise in the Brazilian minimum wage.

**The impact of the minimum wage on non-wage living standards (prices, consumption, non-wage compensation, etc.):** So far, we have reviewed the evidence referring to wages and employment (broadly defined). However, the availability of new data sources allow researchers to observe many other effects of minimum wages on economies, and uncover previously unknown margins of adjustment for both firms and households. Examples of these datasets are credit card information, consumption expenditure surveys, surveys on firms that report prices, etc. A summary of non-wage adjustment margins of firms is provided by Clemens (2021). Even when an increase in the minimum wage has no employment effects, it might have negative welfare consequences on those who intends to help, since there are many other margins of adjustment available to firms (including output prices, non-wage compensation, job attributes like effort requirements, safety measures, and the overall quality of the working environment).

Price adjustments are an important margin as reviewed by Dube (2019), and direct evidence of this is provided by other work. In Hungary, Harasztosi and Lindner (2019) show that minimum wage increases lead to increases in prices in sectors with no international competition (services), while employment declines take place in sectors with international competition and where pass-through of higher labor costs to prices is not available (manufacturing). Overall, 75% of the minimum wage increase is paid by consumers and 25% by firm owners. This paper provides evidence that the job and industry structure of a country matters. In countries where low-wage jobs are concentrated in the local service sector (such as Germany or the US) raising the minimum wage is likely to cause limited negative employment effects, but important price increases. In cities where mainly high-income consumers enjoy services provided by low-wage workers, this redistribution will be from rich to poor. The heterogeneous responses across industries also highlight the advantages of sector-specific minimum wage policies used in some European countries such as Italy or Austria. Setting a higher minimum wage in the non-tradable sector than in the tradable sector can push up wages relatively more where it will generate more modest disemployment effects. This, however, would likely translate into a reallocation of workers from one industry to another, leading to further adjustments in the wages across the different industries (in general equilibrium). The estimates in Harasztosi and Lindner (2019) can be used to evaluate other policies that affect the cost of labor such as taxes and subsidies. The results also suggest that such policies can induce sizable responses in the exporting and tradable sectors. The finding of price increases driven by non-tradable sectors is supported for the US (Cooper et al., 2020).

Evidence of price increases following minimum wage hikes is also present in some LMIC contexts. Calder ́on et al. (2023) disentangle the effects of an increase in the minimum wage as well as a decrease in the Value Added Tax on prices in the northern Mexican border. They find that the minimum wage hike led to increases in prices, which were more than offset by the VAT reduction. They also find the minimum wage’s price effect varied based on the level of labor informality: goods subject to the VAT, which are mainly produced using a higher share of formal labor, were more likely to increase their price due to the minimum wage hike. However, Belman and Wolfson (2016) find no evidence of effects on prices by the minimum wage in the one paper reviewed that studies 46