Decreasing Unemployment Increases Welfare

Hans Jørgen Jacobsen and Christian Schultz ()
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Hans Jørgen Jacobsen: Institute of Economics, University of Copenhagen

No 91-12, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: In a private ownership, production economy we show that under a smoothness assumption on production sets, an allocation involving unemployment and voluntary trades is always Pareto dominated by another attainable allocation where all the unemployed work (more).

Keywords: employment studies; unemployment (search for similar items in EconPapers)
JEL-codes: J64 (search for similar items in EconPapers)
Pages: 7 pages
Date: 1991-09
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Published in: Scandinavian Journal of Economics, 1992, 94(3) pp 491-496

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Persistent link: https://EconPapers.repec.org/RePEc:kud:kuiedp:9112

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