Bucci, Alberto; Fiorillo, Fabio; Staffolani, Stefano - In: Metroeconomica 54 (2003) 2-3, pp. 129-160
We introduce an efficiency wage mechanism into an innovation-driven growth model. Due to asymmetric information problems the labour market is segmented and homogeneous workers may be employed either in the non-competitive intermediate sector or in the competitive research sector. We analyse the...