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Growth and unemployment in a shirking efficiency wage model

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Author Info
Michelle Alexopoulos

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Abstract

The relationship between growth and unemployment in a general equilibrium shirking efficiency wage model is explored. In contrast to past work on this subject, detected shirkers are not dismissed but instead incur a monetary punishment. As a result of this modification, the model can account for a stable rate of unemployment when there is positive population growth and-or technological growth in the economy. Moreover, I show that institutions and policies that limit the ability of firms to punish detected shirkers or restrict their use of discretionary bonuses can increase unemployment and reduce the economy's long run growth rate.

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File URL: http://economics.ca/cgi/xms?jab=v36n3/10.pdf
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Publisher Info
Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 36 (2003)
Issue (Month): 3 (August)
Pages: 728-746
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Handle: RePEc:cje:issued:v:36:y:2003:i:3:p:728-746

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Related research
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Find related papers by JEL classification:
E0 - Macroeconomics and Monetary Economics - - General
J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts

Cited by:
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  1. William Scarth, 2005. "Fiscal Policy Can Raise Both Employment and Productivity," International Productivity Monitor, Centre for the Study of Living Standards, vol. 11, pages 39-46, Fall. [Downloadable!]
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This page was last updated on 2009-11-25.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.