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.
Year of publication: |
1990
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Authors: | Gang, Ira N ; Tower, Edward |
Published in: |
The Economic Record. - Economic Society of Australia - ESA, ISSN 1475-4932. - Vol. 66.1990, 194, p. 186-94
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Publisher: |
Economic Society of Australia - ESA |
Saved in:
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