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An Efficiency Wage Model With Persistent Cycles

Author

Listed:
  • Christophre Georges

    (Hamilton College)

Abstract

This note develops an efficiency wage model which displays persistent cycles under perfect foresight. Limit cycles arise from the dependence of current labor supply on both recent labor market conditions and the expected rate of job creation.

Suggested Citation

  • Christophre Georges, 2002. "An Efficiency Wage Model With Persistent Cycles," Economics Bulletin, AccessEcon, vol. 5(3), pages 1-6.
    • Handle: RePEc:ebl:ecbull:eb-02e30003
    as

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    References listed on IDEAS

    as
    1. Kimball, Miles S, 1994. "Labor-Market Dynamics When Unemployment is a Worker Discipline Device," American Economic Review, American Economic Association, vol. 84(4), pages 1045-1059, September.
    2. Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-444, June.
    3. Georges, Christophre, 1995. "Adjustment costs and indeterminacy in perfect foresight models," Journal of Economic Dynamics and Control, Elsevier, vol. 19(1-2), pages 39-50.
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    Cited by:

    1. M Guerrazzi, 2008. "A Dynamic Efficiency-Wage Model with Continuous Effort and Externalities," Economic Issues Journal Articles, Economic Issues, vol. 13(2), pages 37-58, September.

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    More about this item

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling

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