UNIVERSAL BASIC INCOME, POSSIBLE ECONOMIC POLICY INSTRUMENT REGARDING LABOUR MARKET

Monica Florica Dutcas
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Monica Florica Dutcas: Centre for Financial and Monetary Research “Victor Slavescu”, N.I.E.R., Romanian Academy, Bucharest, Romania

Journal of Financial and Monetary Economics, 2019, vol. 7, issue 1, 42-51

Abstract: The study addresses the possible effects of the implementation of the basic universal income on the balance between the demand and the supply of work, in the context of the fourth industrial revolution. Highlighting the economic growth determined by the technological evolution, questions are asked about the income inequalities and the implications on the labour market. Obviously, as an economic policy instrument the basic universal income establishes a direct causal relation with the standard of living of the human being, but it eliminates the causal relation between income and work, which implies a clear distinction from the minimum guaranteed income, the minimum guaranteed wage. The distinct conditions imposed by objectives, potential beneficiaries, institutional and financing mechanisms are highlighted, which determines different economic and social impact on the labour market.

Keywords: universal basic income; economic policies; labour market; income; wage (search for similar items in EconPapers)
JEL-codes: H53 I3 J17 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:vls:rojfme:v:7:y:2019:i:1:p:42-51

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