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Firm level evidence of efficiency wages and labor turnover in Colombia's manufacturing industry

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  • Rodrigo Taborda

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  • Juan Carlos Guataqui

    ()

Abstract

Working on data of 1241 incumbent firms of the Colombian manufacturing industry this paper tests the hypothesis proposed in models relating turnover and efficiency wage theory. We find evidence of a substantial number of firms paying wages above the industry average and its effect on turn over in firms employment. ********************************************************************** Trabajando con datos de 1241 empresas permanentes de la industria manufacturera de Colombia, el artículo pone a prueba la hipótesis de modelos que relacionan la rotación laboral con salarios de eficiencia. Encontramos evidencia de un número sustancial de empresas que pagan salarios por encima del promedio de su industria y su efecto en la rotación del empleo al interior de las firmas.

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Bibliographic Info

Paper provided by UNIVERSIDAD DEL ROSARIO in its series BORRADORES DE INVESTIGACIÓN with number 002729.

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Length: 22
Date of creation: 03 Sep 2003
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Handle: RePEc:col:000091:002729

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Keywords: Efficiency wages; labor turn over; Colombia's manufacturing industry; microdata;

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  1. Katz, Lawrence F, 1988. "Some Recent Developments in Labor Economics and Their Implications for Macroeconomics," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 20(3), pages 507-22, August.
  2. Luis Eduardo Arango & Carlos Esteban Posada, . "Unemployment Rate and the Real Wage Behavoir: A Neoclassical Hint for the Colombian Labor Market Adjustment," Borradores de Economia 180, Banco de la Republica de Colombia.
  3. Munasinghe, Lalith, 2000. "Wage Growth and the Theory of Turnover," Journal of Labor Economics, University of Chicago Press, vol. 18(2), pages 204-20, April.
  4. J Konings & Patrick Paul Walsh, 1993. "Evidence of Efficiency Wage Payments in UK Firm Level Panel Data," CEP Discussion Papers dp0138, Centre for Economic Performance, LSE.
  5. Krueger, Alan B & Summers, Lawrence H, 1988. "Efficiency Wages and the Inter-industry Wage Structure," Econometrica, Econometric Society, vol. 56(2), pages 259-93, March.
  6. Juan Manuel Julio, 2001. "How Uncertain are NAIRU Estimates in Colombia?," BORRADORES DE ECONOMIA 002798, BANCO DE LA REPÚBLICA.
  7. Campbell, Carl M, III, 1993. "Do Firms Pay Efficiency Wages? Evidence with Data at the Firm Level," Journal of Labor Economics, University of Chicago Press, vol. 11(3), pages 442-70, July.
  8. Gracia Orlando & Gustavo Hernández & Juan Mauricio Ramirez, 2001. "Diferenciales salariales y mercados laborales en la industria colombiana," REVISTA DESARROLLO Y SOCIEDAD, UNIVERSIDAD DE LOS ANDES-CEDE.
  9. Luis Eduardo Arango T. & Carlos Esteban Posada, 2001. "El Desempleo En Colombia," BORRADORES DE ECONOMIA 002495, BANCO DE LA REPÚBLICA.
  10. Luis Arango & Carlos Posada, 2002. "Unemployment rate and the real wage behaviour: a neoclassical hint for the Colombian labour market adjustment," Applied Economics Letters, Taylor & Francis Journals, vol. 9(7), pages 425-428.
  11. Stiglitz, Joseph E, 1974. "Alternative Theories of Wage Determination and Unemployment in LDC'S: The Labor Turnover Model," The Quarterly Journal of Economics, MIT Press, vol. 88(2), pages 194-227, May.
  12. Francis Teal, 1995. "Efficiency wages and rent sharing: a note and some empirical findings," CSAE Working Paper Series 1995-17, Centre for the Study of African Economies, University of Oxford.
  13. Francis Teal, 1995. "Efficiency wages and rent sharing: a note and some empirical findings," Economics Series Working Papers WPS/1995-17, University of Oxford, Department of Economics.
  14. Campbell, Carl M, III & Kamlani, Kunal S, 1997. "The Reasons for Wage Rigidity: Evidence from a Survey of Firms," The Quarterly Journal of Economics, MIT Press, vol. 112(3), pages 759-89, August.
  15. Yellen, Janet L, 1984. "Efficiency Wage Models of Unemployment," American Economic Review, American Economic Association, vol. 74(2), pages 200-205, May.
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