Journal
JOURNAL OF LABOR ECONOMICS
Volume 19, Issue 1, Pages 1-21Publisher
UNIV CHICAGO PRESS
DOI: 10.1086/209978
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This article develops a model of noncompetitive labor markets in which high-wage (good) and low-wage (bad) jobs co-exist. Minimum wages and unemployment benefits shift the composition of employment toward high-wage jobs. Because the composition of jobs in the laissez-faire equilibrium is inefficiently biased toward low-wage jobs, these labor market regulations increase average labor productivity and may improve welfare.
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