A model of conditional and unconditional social security in an efficiency wage economy: the economic sustainability of a basic income
Loek Groot () and
Marga Peeters ()
MPRA Paper from University Library of Munich, Germany
This article identifies the circumstances under which the introduction of a basic income in an efficiency-wage economy leads to the desirable effects of lower unemployment, nondecreasing real incomes and profits, and an increase of secondary- versus primary-sector wages. The model analyses show that a moderate basic income can be compatible with lower unemployment, higher GDP,higher real incomes for workers, lower income inequality between workers, but a lower real income for the (voluntary) unemployed.
Keywords: basic income; unemployment; efficiency wage (search for similar items in EconPapers)
JEL-codes: E24 (search for similar items in EconPapers)
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Published in Journal of Post-Keynesian Economics 19.4(1997): pp. 573-597
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Journal Article: A Model of Conditional and Unconditional Social Security in an Efficiency Wage Economy: The Economic Sustainability of a Basic Income (1997)
Working Paper: A model of conditional and unconditional social security in an efficiency wage economy: the economic sustainability of a basic income (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:23518
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