Electronic Resource
Oxford, UK
:
Blackwell Publishing Ltd.
Metroeconomica
56 (2005), S. 0
ISSN:
1467-999X
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Economics
Notes:
Consider a labour market with heterogeneous workers. When recruiting workers, firms set a hiring standard and make a wage offer. A more demanding hiring standard necessitates a better wage offer in order to attract enough qualified applicants. As a result, an efficiency wage effect is obtained. An equilibrium emerges which does not clear the labour market. The wage level depends on structural characteristics of labour supply, such as heterogeneity and mobility of the workers, but—in contrast to other efficiency-wage models—not on the level of unemployment and is, thus, compatible with increasing unemployment as observed, e.g. in Germany.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/j.1467-999X.2005.00216.x
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