, that frictions (sand-in-the-wheels) may decrease unemployment and that the equilibrium is determined by two simple …

and unemployment to influence the supply curve of labor. An increase in unemployment could prompt households to send more … minimum wage policy and the provision of unemployment benefits. It is argued that certain kinds of unemployment benefits can …

where efficiency wages lead to equilibrium unemployment, we show that if the elasticity of substitution is less than unity …, there will be a bias towards excessive labor augmenting innovation, resulting in too high unemployment, with convergence to … skilled and unskilled labor is less than unity, and there is efficiency wage unemployment for unskilled labor only, there is …