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wage rigidity can be traced to behavioral mechanisms involving negative reciprocity, relative wage comparisons and money …
Persistent link: https://www.econbiz.de/10011511094
wage rigidity can be traced to behavioral mechanisms involving negative reciprocity, relative wage comparisons and money …
Persistent link: https://www.econbiz.de/10005406061
wage rigidity can be traced to behavioral mechanisms involving negative reciprocity, relative wage comparisons and money …
Persistent link: https://www.econbiz.de/10005648535
We study the impact of reputational incentives in markets characterized by moral hazard problems. Social preferences have been shown to enhance contract enforcement in these markets, while at the same time generating considerable wage and price rigidity. Reputation powerfully amplifies the...
Persistent link: https://www.econbiz.de/10010268857
Persistent link: https://www.econbiz.de/10011348415
Persistent link: https://www.econbiz.de/10002034869
We study the impact of reputational incentives in markets characterized by moral hazard problems. Social preferences have been shown to enhance contract enforcement in these markets, while at the same time generating considerable wage and price rigidity. Reputation powerfully amplifies the...
Persistent link: https://www.econbiz.de/10005822329
The missing wage rigidity in general equilibrium models of efficiency wages is an artifact of the external wage reference perspective conventionally adopted by the literature. Efficiency wage models based on an internal wage reference perspective are capable of generating strong wage rigidity....
Persistent link: https://www.econbiz.de/10005124415
We develop and analyse a structural model of efficiency wages founded on reciprocity. Workers are assumed to face an …
Persistent link: https://www.econbiz.de/10005504485
We develop and analyze a structural model of effciency wages founded on reciprocity. Workers are assumed to face an …
Persistent link: https://www.econbiz.de/10005518859