Wage Subsidy and Labour Supply

Soon Beng Chew

Chapter 4 in Labour Economics and Public Policy:Managing the Labour Markets for Competitiveness, 2017, pp 47-55 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Capitalism is relentlessly efficient but it is capable of producing a market economy where income inequity is high. Hence, in most countries, many governments do spend a significant fraction of the GDP in helping the poor. But the cost of a big government is inefficiency, wastage and moral hazard dynamics. In this chapter, we will analyze the impact of two government policies in the labour markets. The first policy is cash grant for poor families and the second policy is wage subsidy to encourage people to work.

Keywords: Labour Market Competitiveness; Labour Unions; Macro-Focused Union; Union Social Responsibility; Union as a Public Good (search for similar items in EconPapers)
JEL-codes: J08 (search for similar items in EconPapers)
Date: 2017
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