Designing Inclusion: Tools to Raise Low-end Pay and Employment in Private Enterprise

by Edmund S. Phelps

Overview

Economists may suppose that low-wage work can result in correspondingly low productivity. The best solution to high unemployment and turnover and low productivity is to pay users of low-wage labor a subsidy for each unit of labor they use. Top economists examine the best ways to address the problem of low wages and employment in the low-skilled labor pool.

Product Details

ISBN-13:	9780521036030
Publisher:	Cambridge University Press
Publication date:	03/26/2007
Pages:	180
Product dimensions:	5.91(w) x 8.98(h) x 0.43(d)

About the Author

Edmund S. Phelps is McVickar Professor of Political Economy and Director of the Center on Capitalism and Society at Columbia University.

Table of Contents

List of figures; List of tables; List of contributors; Introduction Edmund S. Phelps; 1. Low-wage employment subsidies in a labour-turnover model of the 'natural rate' Hian Teck Hoon and Edmund S. Phelps; 2. Taxes, subsidies and equilibrium labour market outcomes Dale Mortensen and Christopher Pissarides; 3. Learning-by-doing versus on-the-job training: using variation induced by the EITC to distinguish between models of skill formation James J. Heckman, Lance Lochner and Ricardo Cossa; 4. Unemployment vouchers versus low-wage subsidies J. Michael Orszag and Dennis J. Snower; Index.