A Wage Floor in a Linear Labour Market: Employment, Unemployment and Surplus
This lesson is part of the course
In this lesson
You solve a linear labour market for the equilibrium wage and employment, impose a fictional wage floor, measure the jobs lost and the unemployment it creates, and split the gains into worker surplus, employer surplus and deadweight loss.
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Lessons in this course
- Labour-Force Statistics: Participation, Unemployment and Employment Rates Locked
- Labour-Market Flows: Job Finding, Separations and Steady-State Unemployment Locked
- A Wage Floor in a Linear Labour Market: Employment, Unemployment and Surplus Locked
- Real Wages, Productivity and the Labour Share Locked
- Income Quintiles from Household Microdata: Cut-offs, Groups and Shares Locked
- The Lorenz Curve: Cumulative Shares, the Line of Equality and the Chart Locked
- The Gini Coefficient by Trapezoids, the Top-10 % Share and the Decile Ratio Locked
- Redistribution Scenario: Flat Tax, Equal Transfer and the Gini Before vs After Locked