This paper attempts to test whether there is econometric evidence in support of the efficiency wage theory in Singapore's manufacturing sector. Two of the possible ways to account for efficiency wages are to show that higher wages have resulted in reduced shirking by workers, and to show that...

Dr Goh Keng Swee has been credited as being the social and economic architect of Singapore. In his 25 years of government service, he served in a wide range of ministerial appointments, including Deputy Prime Minister, Minister of Finance, Minister of Defence and Minister of Education. This...

Singapore has been able to achieve full employment, and her actual rate of unemployment is often quite close to her natural unemployment rate (Groenewold and Tang, 2004). The island country has been able to achieve this because her wage costs are fully flexible. During periods of growth, the...

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No abstract received.

This paper investigates the roles played by a macro-focused union in the stabilization of the employment level and wages during periods of demand shocks. A macro focused union sets the wage at the level which maximizes employment and provides union benefits to union members to counter free...

Trade unions may exact a heavy cost on an economy, but there is one mode of trade unionism that will enable the trade union to play a positive role in economic development. This mode of unionism, which may be characterized as macro-focused, requires the trade union to work closely with the...