Decreasing Unemployment Increases Welfare

In a private ownership, production economy we show that under a smoothness assumption on production sets, an allocation involving unemployment and voluntary trades is always Pareto dominated by another attainable allocation where all the unemployed work (more).

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Year of publication:	1991-09
Authors:	Jacobsen, Hans Jørgen ; Schultz, Christian
Institutions:	Økonomisk Institut, Københavns Universitet
Subject:	employment studies \| unemployment

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Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	Published in: Scandinavian Journal of Economics, 1992, 94(3) pp 491-496 Number 91-12 7 pages
Classification:	J64 - Unemployment: Models, Duration, Incidence, and Job Search
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005749548