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Download or read book Do Deferred Wages Dominate Involuntary Unemployment as a Worker Discipline Device? written by and published by . This book was released on 1986 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : George A. Akerlof
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (147 download)
Download or read book Do Deferred Wages Dominate Involuntary Unemployment as a Worker Discipline Device? written by George A. Akerlof and published by . This book was released on 1986 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the most widely analyzed type of efficiency wage model of involuntary unemployment, firms pay wages in excess of market clearing to give workers an incentive not to shirk. Such payments in excess of market clearing and the resultant equilibrium unemployment act as a worker discipline device. This paper concerns what is usually considered the most important theoretical criticism of such models: the so-called bonding argument. The essence of the bonding critique is that contracts whereby workers pay a bond to the firm upon taking a job (or pay an employment fee to gain employment) can eliminate involuntary unemployment. Explicit upfront bonds are only quite rarely observed. A more subtle form of the bonding critique argues that implicit bonding through upward sloping wage profiles and other deferred payment schemes can perfectly substitute for upfront bonds in providing incentives not to shirk and thereby allow the labor market to clear. This paper shows that upward sloping wage profiles do not act as a perfect substitute for explicit bonds in a natural extension of the shirking model in which workers are finite lived, the monitoring of worker behaviors on the job is costly, and firms have reputations for honesty as employers. In the absence of direct upfront bonding, optimal payment schedules will be in excess of market clearing. The reason why upward sloping wage profiles that are market clearing will not generally be the optimal labor contract is simple: delayed payment may provide sufficient incentive to prevent shirking late in the life of the contract, but in the beginning of the contract it does not prevent shirking. And it turns out in a variety of stylized cases, it is cheaper for the firm to pay a wage premium rather than to accept worker shirking early in the contract. The implications of potential worker malfeasance in the absence of explicit bonds for compensation schedules, job assignments, and firm monitoring strategies over the course of a worker's career are also analyzed
Author : George A. Akerlof
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.E/5 ( download)
Download or read book Do Deferred Wages Eliminate the Need for Involuntary Unemployment as a Worker Discipline Device? written by George A. Akerlof and published by . This book was released on 1987 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : George A. Akerlof
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (135 download)
Download or read book DO REFERRED WAGES DOMINATE INVOLUNTARY UNEMPLOYMENT AS A WORKER DISCIPLINE DEVICE? written by George A. Akerlof and published by . This book was released on 1986 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yoram Weiss
Publisher : Springer
ISBN 13 : 1349106887
Total Pages : 350 pages
Book Rating : 4.3/5 (491 download)
Download or read book Advances in the Theory and Measurement of Unemployment written by Yoram Weiss and published by Springer. This book was released on 1989-06-18 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of papers which analyzes and measures unemployment as a search activity, discusses efficiency wage models and which considers the impact of government and unions on employment and unemployment.
Author :
Publisher :
ISBN 13 :
Total Pages : 638 pages
Book Rating : 4.3/5 (129 download)
Download or read book Monthly Labor Review written by and published by . This book was released on 1987 with total page 638 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews.
Author : Orley Ashenfelter
Publisher :
ISBN 13 :
Total Pages : 520 pages
Book Rating : 4.4/5 (91 download)
Download or read book Labor Economics: Unemployment, trade unions, and dispute resolution written by Orley Ashenfelter and published by . This book was released on 1995 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprises a collection of papers published since 1958 which addresses the application of economic theory to the study of the labour market.
Author : National Bureau of Economic Research
Publisher :
ISBN 13 :
Total Pages : 480 pages
Book Rating : 4.E/5 ( download)
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 1988 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andrew Weiss
Publisher :
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.:/5 (318 download)
Download or read book A Sorting Model of Labor Contracts written by Andrew Weiss and published by . This book was released on 1990 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes a sorting model of labor contracts when workers have private information about their own productivities, and firms can test (monitor) workers. We show that sorting considerations alone generate steep wage-tenure profiles, high turnover rates of newly hired workers, and mandatory retirement rules. We find that if test results are only informative to the testing firm, and hiring is costless, then all workers that fail the test are fired. When hiring is costly, we derive conditions under which the firm retains sane (or all) workers that fail its test. We also derive conditions under which the firm tests sane, but not all, of its workers. In the second part of this paper, we consider the case when there are no hiring costs and there are many identical firms competing for the good type workers. we characterize the optimal contracts am show that competition for workers can lower total output. This is because competition can induce firms to increase the proportion of their workers that they test, rot it the test is costly, this lowers output. Finally, we show that because a mandated minimum wage affects the probability of a firm testing its worker's, an increase in the minimum wage can increase (or decrease) aggregate output.
Author :
Publisher :
ISBN 13 :
Total Pages : 326 pages
Book Rating : 4.:/5 (31 download)
Download or read book BEBR Faculty Working Paper written by and published by . This book was released on 1980 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Donald James Robbins
Publisher :
ISBN 13 :
Total Pages : 616 pages
Book Rating : 4.:/5 (7 download)
Download or read book The Brazilian Labor Market and Efficiency Wages written by Donald James Robbins and published by . This book was released on 1988 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 808 pages
Book Rating : 4.3/5 (91 download)
Download or read book The Journal of Human Resources written by and published by . This book was released on 1991 with total page 808 pages. Available in PDF, EPUB and Kindle. Book excerpt: A general journal of political science.
Author : Heinz König
Publisher :
ISBN 13 :
Total Pages : 400 pages
Book Rating : 4.F/5 ( download)
Download or read book Economics of Wage Determination written by Heinz König and published by . This book was released on 1990 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 986 pages
Book Rating : 4.:/5 (318 download)
Download or read book The American Economic Review written by and published by . This book was released on 1987 with total page 986 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gerrit de Geest
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 270 pages
Book Rating : 4.3/5 (91 download)
Download or read book Law and Economics and the Labour Market written by Gerrit de Geest and published by Edward Elgar Publishing. This book was released on 1999 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text bridges the gap between labour economies, law and economics and the legal profession. Beginning with an overview of the relationship between labour law and economic theory, it examines specific areas within the field of law and economics.
Download or read book Economics Letters written by and published by . This book was released on 1989 with total page 868 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : A. Ullah
Publisher :
ISBN 13 :
Total Pages : 708 pages
Book Rating : 4.:/5 (31 download)
Download or read book The Strategy Pyramid written by A. Ullah and published by . This book was released on 1987 with total page 708 pages. Available in PDF, EPUB and Kindle. Book excerpt:
