We analyse recent proposals to shift the tax burden away from low-paid labour, assuming a dual labour market where the "good" high-paying jobs are rationed. A shift in the tax burden from low-paid to high-paid workers has an ambiguous effect on the "level" of aggregate employment while the...

This paper addresses the welfare implications of introducing workfare into unemployment benefit policy. We consider a population composed of employed and unemployed workers and of individuals who do not seek employment. Job search behavior is unobservable, which means that voluntarily unemployed...

According to much of the recent growth literature, the dramatic worldwide decline in fertility currently taking place should ultimately lead to global economic stagnation. This pessimistic prediction is not shared by the original innovation-based growth literature. In recent years, however, this...