List of figures List of tables List of contributors Introduction Edmund S. Phelps 1. Low-wage employment subsidies in a labour-turnover model of the 'natural rate' Hian Teck Hoon and Edmund S. Phelps 2. Taxes, subsidies and equilibrium labour market outcomes Dale Mortensen and Christopher Pissarides 3. Learning-by-doing versus on-the-job training: using variation induced by the EITC to distinguish between models of skill formation James J. Heckman, Lance Lochner and Ricardo Cossa 4. Unemployment vouchers versus low-wage subsidies J. Michael Orszag and Dennis J. Snower Index.
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