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Stocasthic frontiers and wage inefficiency in Venezuela

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  • Pedro Harmath

    () (Universidad Centroccidental Lisandro Alvarado, Decanato de Ciencias y Tecnología, Departamento de Investigación de Operaciones y Estadística, Núcleo Obelisco, Avenida Las Industrias, Barquisimeto estado Lara, Venezuela.)

  • Josefa Ramoni

    () (Universidad de Los Andes, Facultad de Ciencias Económicas y Sociales, Departamento de Economía, Núcleo Liria, Edificio H, Piso 3, Mérida, estado Mérida, Venezuela.)

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    Abstract

    This paper analyzes wage inefficiency in Venezuela in 2006 based on the methodology of stochastic frontiers. Empirical results indicate that employers’ inefficiency is above 30%, while for employees inefficiency is not statistical significant. This can be explained by government role in the labor market and by the fact that employers may be paying efficiency wages to increase productivity.

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    File URL: ftp://iies.faces.ula.ve/Pdf/Revista33/Rev33Harmath.pdf
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    Bibliographic Info

    Article provided by Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela in its journal Economía.

    Volume (Year): 37 (2012)
    Issue (Month): 33 (January-june)
    Pages: 107-142

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    Handle: RePEc:ula:econom:v:37:y:2012:i:33:p:107-142

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    Postal: Facultad de Ciencias Económicas y Sociales. Instituto de Investigaciones Económicas y Sociales. Campus Universitario Liria, Edificio G, Tercer Nivel. Mérida 5101, Estado Mérida, Venezuela
    Phone: +58 74 401111 ext. 1081
    Fax: +58 74 401120
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    Web page: http://iies.faces.ula.ve/
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    Related research

    Keywords: Stochastic frontiers; wages; labor market.;

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    1. Juan Miguel VILLA LORA, 2006. "Propuesta para la estimación del salario de reserva de los empleados en Colombia con el análisis de fronteras estocásticas," ARCHIVOS DE ECONOMÍA 003402, DEPARTAMENTO NACIONAL DE PLANEACIÓN.
    2. Polachek, Solomon W & Yoon, Bong Joon, 1996. "Panel Estimates of a Two-Tiered Earnings Frontier," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 11(2), pages 169-78, March-Apr.
    3. Polachek, Solomon & Xiang, Jun, 2005. "The Effects of Incomplete Employee Wage Information: A Cross-Country Analysis," IZA Discussion Papers 1735, Institute for the Study of Labor (IZA).
    4. Polachek, Solomon W & Yoon, Bong Joon, 1987. "A Two-tiered Earnings Frontier Estimation of Employer and Employee Information in the Labor Market," The Review of Economics and Statistics, MIT Press, vol. 69(2), pages 296-302, May.
    5. Aigner, Dennis & Lovell, C. A. Knox & Schmidt, Peter, 1977. "Formulation and estimation of stochastic frontier production function models," Journal of Econometrics, Elsevier, vol. 6(1), pages 21-37, July.
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