Artikel

Efficiency wages: Variants and implications

Higher wages increase labor costs but also improve the productivity of the labor force in several ways. If firms take this into account and set their wages accordingly, the resulting wages could fail to adjust demand and supply but may induce phenomena like over-education, discrimination, regional wage differentials, and a tendency for larger firms to pay higher wages. All these phenomena are quantitatively important and well-established empirically. Efficiency wage theory provides an integrated theoretical explanation rather than a sundry list of reasons, and offers an efficiency argument for progressive income taxation.

Sprache
Englisch

Erschienen in
Journal: IZA World of Labor ; ISSN: 2054-9571 ; Year: 2016 ; Bonn: Institute for the Study of Labor (IZA)

Klassifikation
Wirtschaft
Wage Level and Structure; Wage Differentials
Labor Turnover; Vacancies; Layoffs
Thema
efficiency wages
selection wages
turnover
morale
discipline

Ereignis
Geistige Schöpfung
(wer)
Schlicht, Ekkehart
Ereignis
Veröffentlichung
(wer)
Institute for the Study of Labor (IZA)
(wo)
Bonn
(wann)
2016

DOI
doi:10.15185/izawol.275
Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

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Objekttyp

  • Artikel

Beteiligte

  • Schlicht, Ekkehart
  • Institute for the Study of Labor (IZA)

Entstanden

  • 2016

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