Efficiency Wages: Models of Unemployment, Layoffs and Wage Dispersion - Softcover

Weiss, Andrew

Softcover

ISBN 10: 019828392X ISBN 13: 9780198283928

Publisher: Clarendon Press, 1991

Synopsis

This overview of the principal efficiency wage models presents new results in the field. It provides models of competitive labour markets in which wages have sorting, incentive and nutritional effects. It shows how these effects can cause unemployment, a misallocation of labour and equilibrium wage distributions. Results are derived with the use of simple mathematics, motivated by economic intuition and numerical examples. Other models in which wages affect productivity are also discussed. The book is divided into two parts. Part 1 is concerned with the sorting effects of wages, or more generally wage schedules, in an economy where workers have information about their own productivity that is not available to firms. Part 2 is concerned with the direct effects of wages and wage schedules on the performance of workers, assuming that workers have private information about their own productivity.

Edition details

• Publisher: Clarendon Press
• Publication date: 1991
• Language: English
• ISBN 10: 019828392X
• ISBN 13: 9780198283928
• Binding: Paperback
• Number of pages: 125