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A Normative Analysis of Wage Subsidies and Unemployment Benefits Under Fixed Number of Working Hours

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  • Salvador LÓPEZ

    (Universidad Autónoma de Barcelona)

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    Abstract

    In recent years Western governments have introduced a number of emergency measures in their fight against short run unemployment. In this paper a normative analysis concerning the joint implementation of two such measures is offered, viewing unemployment as involuntary, and taking account of the dissatisfaction cost (lack of the social status that having a job provides) borne by unemployed workers. Attention is paid to the existing trade-off between a policy of wage subsidies to the private sector aimed at stimulating employment and a policy of transfer payments to the unemployed intended to increase their purchasing power. In a simple general equilibrium model with wage rigidity, wage subsidy formulas are derived for two settings of incomes control.

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    Bibliographic Info

    Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (REL - Recherches Economiques de Louvain) with number 1994045.

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    Length: 24
    Date of creation: 01 Dec 1994
    Date of revision:
    Handle: RePEc:ctl:louvre:1994045

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