Efficiency Wages

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Publisher : Princeton University Press
ISBN 13 : 140086206X
Total Pages : 126 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Efficiency Wages by : Andrew Weiss

Download or read book Efficiency Wages written by Andrew Weiss and published by Princeton University Press. This book was released on 2014-07-14 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: Known for his seminal work in efficiency-wage theory, Andrew Weiss surveys recent research in the field and presents new results. He shows how wage schedules affect the kinds of workers a firm employs and how well those workers perform on the job. Using straightforward examples, he demonstrates how efficiency-wage theory can explain labor market outcomes and guide government policy. There is a separate section of applications to less developed countries. "Efficiency-wage models represent one of the most important developments in economic theory of recent years. They have, at last, provided integrated explanations both of macroeconomic phenomena, such as unemployment and wage rigidity, and microeconomic phenomena, such as wage dispersion. Weiss--one of the pioneers of efficiency-wage theory--provides here a masterful survey, a lucid and systematic and yet critical account of this rapidly developing branch of economics. This book should be required reading in all courses in macroeconomics."--Joseph Stiglitz, Stanford University "Efficiency Wages should be on the bookshelf of all labor and macroeconomists."--Lawrence H. Summers, Harvard University "A splendid monograph ... most readable... I will put it on my reading list."--Partha Dasgupta, Stanford University Originally published in 1991. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Efficiency Wage Models of the Labor Market

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Publisher : Cambridge University Press
ISBN 13 : 9780521312844
Total Pages : 196 pages
Book Rating : 4.3/5 (128 download)

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Book Synopsis Efficiency Wage Models of the Labor Market by : George A. Akerlof

Download or read book Efficiency Wage Models of the Labor Market written by George A. Akerlof and published by Cambridge University Press. This book was released on 1986-11-28 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributors explore the reasons why involuntary unemployment happens when supply equals demand.

Efficiency Wages and Labor Mobility in an Open Economy

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Publisher : International Monetary Fund
ISBN 13 : 1451850166
Total Pages : 42 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Efficiency Wages and Labor Mobility in an Open Economy by : Pierre-Richard Agénor

Download or read book Efficiency Wages and Labor Mobility in an Open Economy written by Pierre-Richard Agénor and published by International Monetary Fund. This book was released on 1993-10-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper analyzes the role of labor market segmentation and relative wage rigidity in the transmission process of macroeconomic shocks in a two-sector optimizing model of a small open economy. The analysis is first conducted in the context of perfect intersectoral labor mobility. The discussion is then extended to consider the existence of short-run constraints on labor movements. The results highlight the role of efficiency considerations in the behavior of sectoral wages. A deflationary policy induces a reallocation of labor across sectors, but has no long-run effect on the unemployment rate.

Fixed-term Contracts and Unemployment

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Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Fixed-term Contracts and Unemployment by : Maia Güell

Download or read book Fixed-term Contracts and Unemployment written by Maia Güell and published by . This book was released on 2000 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Advances in the Theory and Measurement of Unemployment

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Publisher : Springer
ISBN 13 : 1349106887
Total Pages : 350 pages
Book Rating : 4.3/5 (491 download)

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Book Synopsis Advances in the Theory and Measurement of Unemployment by : Yoram Weiss

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.

Relative Wages, Efficiency Wages, and Keynesian Unemployment

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Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Relative Wages, Efficiency Wages, and Keynesian Unemployment by : Lawrence H. Summers

Download or read book Relative Wages, Efficiency Wages, and Keynesian Unemployment written by Lawrence H. Summers and published by . This book was released on 1988 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: While modern economic theorists have produced a variety of explanations for the failure of wages to fall in the face of unemployment, Keynes emphasis on relative wages has not been reflected in most contemporary discussions. This short paper suggests that relative wage theories in which workers' productivity depends primarily on their relative wage provide the best available apparatus for understanding actual unemployment and its fluctuations. Such theories are very closely related to the efficiency wage theories that have received widespread attention in recent years.

Taxes and Unemployment

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Publisher : Springer Science & Business Media
ISBN 13 : 1461507871
Total Pages : 308 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Taxes and Unemployment by : Laszlo Goerke

Download or read book Taxes and Unemployment written by Laszlo Goerke and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter has set out in detail the models which are employed below in order to analyse the labour market effects of changes in tax rates and in alterations in the tax structure. The fundamental mechanisms underlying the different approaches have been pointed out. Moreover, vital assumptions have been emphasised. By delineating the models which are used for the subsequent analyses, implicitly statements have also been made about topics or aspects which this study does not cover. For example, all workers and firms are identical ex ante. However, ex-post differences are allowed for, inter alia, if unemploy ment occurs or if some firms have to close down. These restrictions indicate areas of future research insofar as that the findings for homogeneous workers or firms yield an unambiguous proposal for changes in tax rates or the tax structure in order to promote employment. This is because it would be desir able for tax policy to know whether the predicted effects also hold in a world with ex-ante heterogeneity. Furthermore, the product market has not played a role. Therefore, repercussions from labour markets outcomes on product demand - and vice versa - are absent. 55 Moreover, neither the process of capital accumulation, be it physical or human capital, nor substitution pos sibilities between labour and capital in the firms' production function are taken into account. Finally, international competition is not modelled.

Employment Protection and Unemployment in an Efficiency Wage Model

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Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Employment Protection and Unemployment in an Efficiency Wage Model by : Maia Güell

Download or read book Employment Protection and Unemployment in an Efficiency Wage Model written by Maia Güell and published by . This book was released on 2000 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Efficiency Wages and Unemployment

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Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (594 download)

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Book Synopsis Efficiency Wages and Unemployment by : M. Lever

Download or read book Efficiency Wages and Unemployment written by M. Lever and published by . This book was released on 1993 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Firing Costs, Efficiency Wages and Unemployment

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Firing Costs, Efficiency Wages and Unemployment by : Stefano Staffolani

Download or read book Firing Costs, Efficiency Wages and Unemployment written by Stefano Staffolani and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a Shapiro-Stiglitz efficiency wage model to analyse the effects of firing costs on wages, employment, expected utility and profits. It considers that the probability of a non-shirker being fired depends on an exogenous shock which follows a two-state Markov process. It finds that higher severance payments give rise to lower wages, a lower unemployment rate, an increase in firms' profits and a decrease in the utility of both workers and the unemployed. These conclusions derive from the finding that a greater probability of keeping one's job, because of higher firing costs, raises the value of the job and reduces the worker's incentives to behave opportunistically; this enables firms to reduce wages. Hence, if firms pay efficiency wages, a higher degree of labour market flexibility increases unemployment.

Efficiency Wage 36 Success Secrets - 36 Most Asked Questions on Efficiency Wage - What You Need to Know

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Publisher : Emereo Publishing
ISBN 13 : 9781488867262
Total Pages : 50 pages
Book Rating : 4.8/5 (672 download)

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Book Synopsis Efficiency Wage 36 Success Secrets - 36 Most Asked Questions on Efficiency Wage - What You Need to Know by : Steven Gardner

Download or read book Efficiency Wage 36 Success Secrets - 36 Most Asked Questions on Efficiency Wage - What You Need to Know written by Steven Gardner and published by Emereo Publishing. This book was released on 2014-11-04 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New Efficiency Wage Guide That Will Give You ALL You Want To Know. There has never been a Efficiency Wage Guide like this. It contains 36 answers, much more than you can imagine; comprehensive answers and extensive details and references, with insights that have never before been offered in print. Get the information you need--fast! This all-embracing guide offers a thorough view of key knowledge and detailed insight. This Guide introduces what you want to know about Efficiency Wage. A quick look inside of some of the subjects covered: Job creation, Involuntary unemployment - Explanations, George Akerlof - Bibliography, Theory of the firm - Other models, Agency Theory, Principal-agent problem - Deferred compensation, Outline of economics - General economic concepts, History of macroeconomic thought - Efficiency wages, Efficiency - In economics, Paul Milgrom - Labor Markets, Union threat model, Market equilibrium - Interpretations, Opportunism - Economic opportunism, Types of unemployment, Index of economics articles - E, Efficiency wages - Overview, Employment Protection Legislation - On firm efficiency and profits, Compensating differential - Area characteristics, Market-clearing - On market clearing, JEL classification codes - Labor and demographic economics JEL: J Subcategories, New Keynesian economics - Microfoundations of price stickiness, Agency Theory - Employment contract, Principal-agent - Deferred compensation, Unemployed, Classical unemployment, Employment gap, Equilibrium (economics) - Interpretations, Feminist economics - Homo economicus, Unemployment rate, Efficiency wages - Labor turnover, Principal-agent problem, Cyclical unemployment, Union threat model - Empirical literature, Principal-agent problem - Deferred compensation, Efficiency wages - Shirking, History of macroeconomic thought - Labor market failures, and much more...

The Efficiency Wage and U.K. Unemployment

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Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis The Efficiency Wage and U.K. Unemployment by : C. E. van der Ploeg

Download or read book The Efficiency Wage and U.K. Unemployment written by C. E. van der Ploeg and published by . This book was released on 1987 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Efficiency Wages in a Share Economy

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Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis Efficiency Wages in a Share Economy by : Bernard Elbaum

Download or read book Efficiency Wages in a Share Economy written by Bernard Elbaum and published by . This book was released on 1988 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Essential Readings in Economics

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Publisher : Bloomsbury Publishing
ISBN 13 : 1349240028
Total Pages : 412 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis Essential Readings in Economics by : Saul Estrin

Download or read book Essential Readings in Economics written by Saul Estrin and published by Bloomsbury Publishing. This book was released on 1995-05-24 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intellectual advances in economics often come from debates that have been long forgotten but which offer context, depth and clarity to contemporary study. Essential Readings in Economics makes available in a single volume some of the seminal papers in the areas of microeconomics and macroeconomics for intermediate courses in economic principles. The readings are organised in two groups: Microeconomics and Macroeconomics. Part 1 looks at topics ranging from 'The Theory of Demand' and 'The Firm and Supply' to 'The Economics of Uncertainty and Information'. In Part 2 the wide ranging debates over the last 55 years are illustrated with contributions from Keynes, Friedman, Phillips and other leading Economists. This vigorous and accessible collection of readings is intended to supplement and extend the understanding students could obtain from conventional introductory textbooks.

Long-Run Involuntary Unemployment in a Dynamic Efficiency Wage Model with Technical Progress and Heterogeneity

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Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Long-Run Involuntary Unemployment in a Dynamic Efficiency Wage Model with Technical Progress and Heterogeneity by : Vishal Wilde

Download or read book Long-Run Involuntary Unemployment in a Dynamic Efficiency Wage Model with Technical Progress and Heterogeneity written by Vishal Wilde and published by . This book was released on 2017 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper updates the Shapiro-Stiglitz (1984) efficiency wage model with technical progress. Involuntary unemployment may not necessarily exist in a long-run equilibrium even when efficiency wages resulting from competitive markets are paid. The effect of reducing real (monetary) unemployment benefits has an ambiguous (possibly negative) impact on employment. The implications of incorporating Okun's (1962) Law into the model are also briefly considered. Institutional factors that may cause involuntary unemployment are also discussed (intellectual property rights regimes and labour market restrictions, such as the minimum wage). Some behavioural perspectives that accord with the model are discussed. This updated model also serves as a (weak) theoretical defence of the Universal Basic Income (UBI) in terms of its potential impact on involuntary unemployment. For a UBI to be implemented, there must be a holistic reconsideration of intellectual property rights regimes (as well as other impediments to technical progress) as well as labour market restrictions. It is suggested that the UK's 'Productivity Puzzle' could be explained through this model (through constrained technical progress, labour market restrictions, unemployment benefits etc.).

Why Union Workers Deserve Their Pay

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Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Why Union Workers Deserve Their Pay by : Helene Jorgensen

Download or read book Why Union Workers Deserve Their Pay written by Helene Jorgensen and published by . This book was released on 1997 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Efficiency Wages and Unemployment

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Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (95 download)

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Book Synopsis Efficiency Wages and Unemployment by : Marcel Hendrik Christinus Lever

Download or read book Efficiency Wages and Unemployment written by Marcel Hendrik Christinus Lever and published by . This book was released on 1993 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: