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State-Owned Enterprises, Shirking and Trade Liberalization

Ghosh, Madanmohan - 2000

We explore the implications of trade liberalization in economies with State Owned enterprises (SOEs) and shirking. SOEs … departures from Pareto optimality in SOE economies can be large and trade liberalization acts to discipline shirking associated …. This is especially the case where SOEs account for a significant fraction of economic activity and shirking is involved …

Persistent link: https://www.econbiz.de/10012471065

Fiscal Shocks in an Efficiency Wage Model

Burnside, Craig - 2000

This paper analyzes the ability of a general equilibrium efficiency wage model to account for the estimated response of hours worked and of real wages to a fiscal policy shock. Our key finding is that the model cannot do so unless we make the counterfactual assumption that marginal tax rates are...

Persistent link: https://www.econbiz.de/10012471261

Carrots and Sticks : Pay, Supervision and Turnover

Leonard, Jonathan S. - 1987

. Recently, the efficiency wage model (EWM) has been advanced as an explanation for these wage differentials. The shirking … turnover is costly to the firm. Variation across firms in the cost of monitoring/shirking or turnover then are hypothesized to …

Persistent link: https://www.econbiz.de/10012476894

Did Henry Ford Pay Efficiency Wages?

Raff, Daniel M.G. - 1986

This paper examines Henry Ford's introduction of the five-dollar day in 1914 in an effort to evaluate the relevance of efficiency wage theories of wage and employment determination. Our general conclusion is that the Ford experience is strongly supportive of the relevance of these theories....

Persistent link: https://www.econbiz.de/10012476968

Do Deferred Wages Dominate Involuntary Unemployment as a Worker Discipline Device?

Akerlof, George A. - 1986

sloping wage profiles do not act as a perfect substitute for explicit bonds in a natural extension of the shirking model in … 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 …

Persistent link: https://www.econbiz.de/10012477045

Efficiency Wages and the Wage Structure

Krueger, Alan B. - 1986

Persistent link: https://www.econbiz.de/10012477120

Are Efficiency Wages Efficient?

Dickens, William T. - 1986

Efficiency wage models have been criticized because worker malfeasance can be prevented in a pareto efficient manner by requiring workers to post a bond which they lose if they are caught cheating. However, since it is costly to monitor workers and costless to demand a larger bond, firms should...

Persistent link: https://www.econbiz.de/10012477137

Efficiency Wage Theories : A Partial Evaluation

Katz, Lawrence F. - 1986

This paper surveys recent developments in the literature on efficiency wage theories of unemployment. Efficiency wage models have in common the property that in equilibrium firms may find it profitable to pay wages in excess of market clearing. High wages can help reduce turnover, elicit worker...

Persistent link: https://www.econbiz.de/10012477169

An Empirical Model of Wage Indexation Provisions in Union Contracts

Card, David - 1984

Cost of living escalators are an important feature of North American labor contracts. This paper presents a measure of the response of index-linked wage increases to concurrent price increases for a sample of Canadian contracts, and then analyses this response in terms of a simple model of...

Persistent link: https://www.econbiz.de/10012477702

Efficient Wage Bargains Under Uncertain Supply and Demand

Hall, Robert E. - 1978

Much recent thought has been devoted to the macroeconomic importance of the existence of wage contracts. Still, some puzzling features of the most conspicuous form of wage bargaining, that done formally by employers and labor unions, deserve further theoretical attention. Among these important...

Persistent link: https://www.econbiz.de/10012478844