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Abstract

This article identifies the circumstances under which the introduction of a basic income in an efficiency-wage economy leads to the desirable effects of lower unemployment, nondecreasing real incomes and profits, and an increase of secondary- versus primary-sector wages. The model analyses show that a moderate basic income can be compatible with lower unemployment, higher GDP,higher real incomes for workers, lower income inequality between workers, but a lower real income for the voluntary unemployed.



Item Type: MPRA Paper -

Original Title: A model of conditional and unconditional social security in an efficiency wage economy: the economic sustainability of a basic income-

Language: English-

Keywords: basic income; unemployment; efficiency wage-

Subjects: E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E24 - Employment ; Unemployment ; Wages ; Intergenerational Income Distribution ; Aggregate Human Capital ; Aggregate Labor Productivity-





Author: Groot, L.f.m.

Source: https://mpra.ub.uni-muenchen.de/23518/



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