Cahuc, Pierre; Zylberberg, André - In: Revue Économique 45 (1994) 3, pp. 385-398
[eng] What is left of the efficiency wage theory ? . . In this paper, it is shown that turn over or monitoring costs cannot explain, by themselves, involuntary unemployment. Nevertheless, such costs can prevent employers and workers from achieving agreements that would be Pareto improving. [fre]...