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Youth unemployment and government policy

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  • J. Michael Orszag

    ()
    (Department of Economics, Birkbeck College, University of London, London W1P 2LL, UK)

  • Dennis Snower

    ()
    (Department of Economics, Birkbeck College, University of London, London W1P 2LL, UK)

Abstract

Young people of working age tend to be particularly prone to labor market inefficiencies that keep their wages excessively high and their employment excessively low. These inefficiencies are usually magnified through unemployment benefit systems. This paper examines how these problems can be tackled through "employment vouchers," i.e. hiring subsidies or tax breaks for the unemployed. It examines how vouchers to the young unemployed should differ from those to the adult unemployed. The employment vouchers considered here reduce unemployment and impose no cost on the government, since they are financed by the induced fall in government expenditures on unemployment benefits. Among other things, we find that young workers should receive lower vouchers as displacement of the old rises and as deadweight from providing vouchers to the old increases.

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Bibliographic Info

Article provided by Springer in its journal Journal of Population Economics.

Volume (Year): 12 (1999)
Issue (Month): 2 ()
Pages: 197-213

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Handle: RePEc:spr:jopoec:v:12:y:1999:i:2:p:197-213

Note: Received: 15 January 1997/Accepted: 30 April 1998
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Related research

Keywords: Youth unemployment · employment · employment subsidies · adult unemployment · overlapping generations models;

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Cited by:
  1. Brown, Alessio J G & Merkl, Christian & Snower, Dennis J., 2007. "Comparing the Effectiveness of Employment Subsidies," CEPR Discussion Papers 6334, C.E.P.R. Discussion Papers.
  2. Frank Oskamp & Dennis J. Snower, 2007. "Interactions between Employment and Training Policies," Kiel Working Papers 1389, Kiel Institute for the World Economy.
  3. Orszag, J. Michael & Snower, Dennis J., 2003. "Designing employment subsidies," Labour Economics, Elsevier, vol. 10(5), pages 557-572, October.
  4. Frank Oskamp & Dennis J. Snower, 2006. "The Effect of Low-Wage Subsidies on Skills and Employment," Kiel Working Papers 1292, Kiel Institute for the World Economy.
  5. Christian Merkl & Dennis J. Snower, 2007. "Escaping the Unemployment Trap � The Case of East Germany," Kiel Working Papers 1309, Kiel Institute for the World Economy.

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