Good Jobs versus Bad Jobs

Daron Acemoğlu

540 citations0/0 files storedJournal of Labor Economics

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Labor market dynamics and wage inequality Employment, Labor, and Gender Studies Gender, Labor, and Family Dynamics

Abstract

This article develops a model of noncompetitive labor markets in which high‐wage (good) and low‐wage (bad) jobs coexist. 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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References

1991Equilibrium Unemployment Theory 1990On the Efficiency of Matching and Related Models of Search and Unemployment 1984Investment and Wages in the Absence of Binding Contracts: A Nash Bargaining Approach 1982Wage Determination and Efficiency in Search Equilibrium 1977Unemployment Insurance and Job Search Decisions 1991Unemployment Compensation and Labor Market Transitions: A Critical Review 1985A Theory of Dual Labor Markets with Application to Industrial Policy, Discrimination and Keynesian Unemployment 1999Changes in Unemployment and Wage Inequality: An Alternative Theory and Some Evidence

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