Allocating Jobs under a Minimum Wage: Queues vs. Lotteries
In this paper we provide a simple diagrammatic technique of incorporating variable labor supply into the specific factors model. We then use the framework to analyze the positive and normative effects of a minimum wage both with a broadly based employment lottery (on-the-job search) and with an employment queue (the Harris-Todaro case). We discover that with a given minimum wage replacing the queue with a lottery may be welfare reducing. Copyright 1990 by The Economic Society of Australia.
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Volume (Year): 66 (1990)
Issue (Month): 194 (September)
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