The impact of imperfect monitoring on the efficiency wage hypothesis

The impact of imperfect monitoring on the efficiency wage hypothesis · Zusammenfassung. Es wird ein Arbeitsmarkt untersucht, in dem Arbeiter unterschiedliche ...

The Impact of Imperfect Monitoring on the Efficiency. Wage Hypothesis. Gerhard Clemenz*). Zusammenfassung. Es wird ein Arbeitsmarkt untersucht, in dem Arbeiter ...

Efficiency Wage Models - Tao Wang

e.g. the moral hazard problem introduced by imperfect monitoring of effort level by employers. A firm and a worker. The worker chooses effort to ...

A Model of Involuntary Unemployment and Wage Rigidity

This paper analyzes a model that highlights imperfect monitoring and the threat of dismissal as microeconomic underpinnings for the efficiency-wage hypothesis.

Real wages, productivity, and the cycle: An efficiency wage model

This paper extends the results of previous work that shows imperfect monitoring of worker effort can explain involuntary unemployment in equilibrium.

Efficiency Wage Theories: A Partial Evaluation - Harvard University

The basic efficiency wage hypothesis states that workers' productivities depend positively on their wages. If this is the case, firms may find it profitable to ...

Efficiency wages

Test the hypothesis ∂ 7w/∂q < 0: are monitoring and wages substitutes? ... Assume that firms with imperfect monitoring technologies are paying efficiency.

The labor-managed firm under imperfect monitoring: Employment ...

Real Wages, Productivity, Unemployment and the Cycle: An Efficiency Wage Model ... Wage Determination under Labor Management: Theory and Evidence from Yugoslavia.

Labor Productivity in the Efficiency-Wage Model - jstor

combine the efficiency-wage model and implicit contract theory, while Chatterji and Sparks (1991) construct an imperfect monitoring model with an endogenous ...

Efficiency wages versus insiders and outsiders - EconStor

In the efficiency-wage theory, the source is firms' imperfect information ... As in the efficiency wage theory, firms are assumed to monitor work effort.

NBER WORKING PAPER SERIES SENIORITY DongIk Kang Miles S ...

This paper studies the optimal wage structure of a firm with imperfect monitoring of worker effort. We find that when firms can commit to (implicit) long ...

What is efficiency wage theory? - Perkbox

The model goes like this: it is impossible for firms to completely monitor the effort of all individuals in their employment and some people ...

Efficiency Wages, Unemployment Benefits and Union-Firm ... - Cairn

Various labour market imperfections, such as imperfect information and contracts, imperfect monitoring ... the effects of, for example, efficiency wage ...

Wage Differentials and Efficiency Wage Models

... monitoring, or that monitoring is imperfect. In order to induce workers' good behavior and discourage shirking, a firm needs to pay above the market clearing ...

NBER WORKING PAPER SERIES EFFICIENCY WAGE THEORIES

the efficiency wage hypothesis can explain equilibrium involuntary unemployment. Real wage rigidity also arises in this model. Changes in relative price to the.

Efficiency wages and unemployment

Efficiency wage theory-the idea that it may be efficient for firms to pay wages in excess of their market clearing levels-rests on two central propositions: ...

Efficiency wages: Variants and implications - IZA World of Labor

According to efficiency wage theory, progressive income taxation can be used to reduce pre-tax wage inequality. Firms could be discouraged from employing ...

Imperfect Monitoring of Job Search: Structural Estimation and Policy ...

Consequently, we find that the scheme hardly enhanced the job-finding rate. On the basis of simulations, we find that designing a “stricter” scheme, more in ...

An Interplant Test of the Efficiency Wage Hypothesis - jstor

More important, wage premi- ums may lead to a reduction in unobserved shirking-unobserved because of the imperfect monitoring of employee behavior-and if we ...

imperfect information model of the aggregate supply curve

Downloadable! This study derives a reduced-form equation for the aggregate supply curve from a model in which firms pay efficiency wages and workers have ...