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Efficiency Wages, Interfirm Comparison, and Unemployment

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  • Kare Johansen

    ()
    (Department of Economics, Norwegian University of Science and Technology)

  • Bjarne Strom

    ()
    (Department of Economics, Norwegian University of Science and Technology,)

Abstract

The paper presents an efficiency wage model where worker effort depends on own wages relative both to wages of other workers in the firm and to similar workers in other firms. First, we show how the Solow conditions are modified if internal comparison effects are at work. Second, we discuss the effect of internal wage comparison on wage inequality within firms. Third, we study unemployment and relative wage determination within a general equilibrium model, and analyze the effect of technological change and various tax policies on equilibrium unemployment and relative wages. Finally, the short-run effects of aggregate demand shocks are analyzed.

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Bibliographic Info

Article provided by Southern Economic Association in its journal Southern Economic Journal.

Volume (Year): 68 (2001)
Issue (Month): 2 (October)
Pages: 387-402

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Handle: RePEc:sej:ancoec:v:68:2:y:2001:p:387-402

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Web page: http://www.southerneconomic.org/
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Cited by:
  1. Andrew Clark & Davis Masclet & Marie-Claire Villeval, 2006. "Effort and Comparison Income : Survey and Experimental Evidence," Working Papers 0601, Groupe d'Analyse et de Théorie Economique (GATE), Centre national de la recherche scientifique (CNRS), Université Lyon 2, Ecole Normale Supérieure.
  2. repec:prs:ecoprv:ecop_0249-4744_1995_num_121_5_6137 is not listed on IDEAS
  3. repec:hal:wpaper:halshs-00590552 is not listed on IDEAS
  4. Andrew E. Clark & David Masclet & Marie-Claire Villeval, 2008. "Effort and Comparison Income: Experimental and Survey Evidence," CEP Discussion Papers dp0886, Centre for Economic Performance, LSE.

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