Public Policy, Employment, and Welfare in an Efficiency Wage Model

Ken-ichi Hashimoto and Taro Kumagai ()
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Taro Kumagai: Graduate School of Economic, Kobe University

Economics Bulletin, 2006, vol. 5, issue 16, 1-11

Abstract: This paper develops an efficiency wage model to highlight public policy for relieving unemployment. For the purposes of relief, we present unemployment benefits, public employment programs and wage subsidies. The results show that unemployment benefits have a negative effect on the employment rate, while public employment and wage subsidies have a positive effect. The impact of these policies on social welfare is also considered.

JEL-codes: E6 H2 (search for similar items in EconPapers)
Date: 2006-10-26
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