Croix,David,de la; Palm, Franz; Urbain, Jean-Pierre - Maastricht : METEOR, Maastricht Research School of … - 1996
We present an efficiency wage model in which workers'' effort depends on the level and on the growth rate of their wage relative to an alternative wage. Using data for four countries (US, UK, FR, GY), the implications of the model are examined and are found to be in accordance with the...
