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Designing Social Inclusion. The Economics of Subsidies in the Labor Market.

Designing Social Inclusion. The Economics of Subsidies in the Labor Market.

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  • ISBN:9780521816953
  • Editorial: Cambridge University Press
  • Fecha de la edición:
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  • Dimensiones: 16 cm x 23 cm
  • Nº Pág.:178
  • Idiomas:Inglés,Ingles

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Growing out of a conference on Expectations Formation and Economic Disequilibrium held in New York City in 1981, the papers in this volume provide a complex view of market processes in which individual rationality is no guarantee of convergence to the 'correct model and the equilibrium coordination of agents plans. They reject the 'optimality argument for the rational expectations hypothesis, opening the door to other hypotheses of optimal expectations of agents in the decentralized market economy.

Introduction Edmund S. Phelps; 1. Low-wage employment subsidies in a labor-turnover model of the 'natural rate Hian Teck Hoon and Edmund S. Phelps; 2. Taxes, subsidies and equilibrium labor market outcomes Dale Mortensen and Christopher Pissarides; 3. Learning-by-doing vs. on-the-job training James J. Heckman, Lance Lochner and Ricardo Cossa; 4. Unemployment vouchers versus low wage subsidies J. Michael Orszag and Dennis J. Snower.

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