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
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Englisch
- Erschienen in
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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
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Veröffentlichung
- (wer)
-
Ludwig-Maximilians-Universität München, Volkswirtschaftliche Fakultät
- (wo)
-
München
- (wann)
-
2016
- DOI
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doi:10.5282/ubm/epub.25168
- Handle
- URN
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urn:nbn:de:bvb:19-epub-25168-8
- Letzte Aktualisierung
-
09.02.2024, 07:22 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Schlicht, Ekkehart
- Ludwig-Maximilians-Universität München, Volkswirtschaftliche Fakultät
Entstanden
- 2016