@TechReport{iza:izadps:dp662,
            	author={Strobl, Eric and Walsh, Frank},
            	title={Getting It Right: Employment Subsidy or Minimum Wage?},
            	year={2002},
	month={Dec},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={662},
            	url={https://www.iza.org/index.php/publications/dp662},
	abstract={In monopsony models of the labour market either a minimum wage or an employment subsidy financed by a lump sum tax on profits can achieve the efficient level of employment and output. Incorporating working conditions into a monopsony model where higher wages raise firm labour supply, but less attractive working conditions reduce it, changes these policy implications. Specifically, a minimum wage policy could, in contrast to an employment subsidy, cause working conditions to deteriorate and welfare to fall. Empirical evidence from the Republic of Trinidad and Tobago shows that a minimum wage may indeed cause working conditions to worsen.},
	keywords={minimum wage;working conditions;monopsony models},
            }