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between and within skill categories, as well as an increase in unemployment, especially among low-skill workers. Movements in … productivity, unemployment and inequality may thus be linked to induced overeducation and credentialism. …
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This paper analyses the influence of norms of fairness on wage formation. Fairness is defined by "real-wage" and "relative-wage" norms that relate wage offers to workers' own current wage and to the wages of other groups of workers, and, to avoid shirking, firms pay fair wages. The wage norms...
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