کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
971726 | 932388 | 2008 | 28 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
An efficiency wage approach to reconciling the wage curve and the Phillips curve
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
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چکیده انگلیسی
This study develops an efficiency wage model that generates a wage curve at the regional level and a Phillips curve at the national level, under the assumption that workers' efficiency depends on both regional and aggregate labor market conditions. An equation relating wages to unemployment and lagged wages is derived from the profit-maximizing behavior of firms, and it is demonstrated that the coefficient on lagged wages is less than 1 with regional data but equals 1 with aggregate data. In addition, there is an equilibrium relationship between unemployment and wages at the regional level, but not at the aggregate level.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Labour Economics - Volume 15, Issue 6, December 2008, Pages 1388–1415
Journal: Labour Economics - Volume 15, Issue 6, December 2008, Pages 1388–1415
نویسندگان
Carl M. Campbell III,