Arbeitspapier

Efficiency wages: Variants and implications

Higher wages increase labor costs but improve the productivity of the labor force through several channels. If firms take this into account and set their wages accordingly, the resulting wages may fail to adjust demand and supply but may engender phenomena like over-education, discrimination, regional wage differentials and a tendency for larger firms paying higher wages. All these phenomena are well established empirically. Efficiency wage theory provides an integrated explanation for them, rather than a sundry list of diverse reasons. At the same time, it provides an efficiency argument for progressive income taxation.

Sprache
Englisch

Erschienen in
Series: Munich Discussion Paper ; No. 2016-4

Klassifikation
Wirtschaft
Human Capital; Skills; Occupational Choice; Labor Productivity
Wage Level and Structure; Wage Differentials
Labor Turnover; Vacancies; Layoffs
Labor Discrimination
Personnel Economics: Compensation and Compensation Methods and Their Effects
Firm Behavior: Theory
Taxation and Subsidies: Efficiency; Optimal Taxation
Thema
efficiency wages
selection wages
turnover wages
discipline wages
shirking
size-wage effect
firm-size effect
congestion-wage effect
Reder-competition
discrimination
hiring standards
minimum wage
income taxation

Ereignis
Geistige Schöpfung
(wer)
Schlicht, Ekkehart
Ereignis
Veröffentlichung
(wer)
Ludwig-Maximilians-Universität München, Volkswirtschaftliche Fakultät
(wo)
München
(wann)
2016

DOI
doi:10.5282/ubm/epub.25168
Handle
URN
urn:nbn:de:bvb:19-epub-25168-8
Letzte Aktualisierung
09.02.2024, 07:22 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Schlicht, Ekkehart
  • Ludwig-Maximilians-Universität München, Volkswirtschaftliche Fakultät

Entstanden

  • 2016

Ähnliche Objekte (12)