In the most widely analyzed type of efficiency wage model of involuntary unemployment, firms pay wages in excess of … equilibrium unemployment act as a worker discipline device. This paper concerns what is usually considered the most important … involuntary unemployment. Explicit upfront bonds are only quite rarely observed. A more subtle form of the bonding critique argues …

This paper looks at models of unemployment which make two central assumptions. The first is that wages are bargained … between firms and employed workers, and that unemployment affects the outcome only to the extent that it affects the labor … market prospects of either employed workers or of firms. The second is that the duration of unemployment affects either the …

This paper surveys recent developments in the literature on efficiency wage theories of unemployment. Efficiency wage … employees. Simple versions of efficiency wage models can explain normal involuntary unemployment,segmented labor markets, and … job rationing and involuntary unemployment. A wide variety of evidence on inter-industry wage differences is analyzed …

unemployment, Keynes emphasis on relative wages has not been reflected in most contemporary discussions. This short paper suggests … available apparatus for understanding actual unemployment and its fluctuations. Such theories are very closely related to the …

-work time is substantial and varies positively with the local unemployment rate. While average time spent by workers in non …-work conditional on any positive amount rises with the unemployment rate, the fraction of workers reporting positive values varies pro …-work with wage rates and measures of unemployment benefits in state data linked to the ATUS, and it is consistent with estimated …

We study the incidence of pollution taxes and their impact on unemployment in an analytical general equilibrium … efficiency wage model. We find closed-form solutions for the effect of a pollution tax on unemployment, factor prices, and output …