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Ken-ichi Hashimoto and Taro Kumagai
''Public Policy, Employment, and Welfare in an Efficiency Wage Model''
( 2006, Vol. 5 No.16 )
This paper develops an efficiency wage model to highlight public policy for relieving unemployment. For the purposes of relief, we present unemployment benefits, public employment programs and wage subsidies. The results show that unemployment benefits have a negative effect on the employment rate, while public employment and wage subsidies have a positive effect. The impact of these policies on social welfare is also considered.
JEL: E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General
H2 - Taxation, Subsidies, and Revenue: General
Manuscript Received : Sep 26 2006 Manuscript Accepted : Oct 26 2006

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