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Fairness, Reciprocity, and Wage Rigidity

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Author Info
Truman F. Bewley () (Cowles Foundation, Yale University)
Abstract

This paper contains a review of work on wage rigidity. The work includes field studies, and economic experiments, and psychological surveys. Economists have done the field studies and experiments, and management scientists and experimental psychologists have done the surveys.

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File URL: http://cowles.econ.yale.edu/P/cd/d13b/d1383.pdf
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Publisher Info
Paper provided by Cowles Foundation, Yale University in its series Cowles Foundation Discussion Papers with number 1383.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 36 pages
Date of creation: 01 Oct 2002
Date of revision:
Handle: RePEc:cwl:cwldpp:1383

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Postal: Yale University, Box 208281, New Haven, CT 06520-8281 USA
Phone: (203) 432-3702
Fax: (203) 432-6167
Web page: http://cowles.econ.yale.edu/
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Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA

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Related research
Keywords: Wage rigidity; Morale; Fairness; Reciprocity;

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Find related papers by JEL classification:
J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. David E. Lebow & Raven E. Saks & Beth Anne Wilson, 1999. "Downward nominal wage rigidity: evidence from the employment cost index," Finance and Economics Discussion Series 1999-31, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  2. Unknown, 1999. "Discussion," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 422-426, February. [Downloadable!] (restricted)
  3. Unknown, 1999. "Discussion," Journal of Economic Psychology, Elsevier, vol. 20(4), pages 485-489, August. [Downloadable!] (restricted)
  4. Baker, George & Gibbs, Michael & Holmstrom, Bengt, 1994. "The Wage Policy of a Firm," The Quarterly Journal of Economics, MIT Press, vol. 109(4), pages 921-55, November. [Downloadable!] (restricted)
  5. Unknown, 1999. "Discussion," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 286-290, February. [Downloadable!] (restricted)
  6. Akerlof, George A, 1982. "Labor Contracts as Partial Gift Exchange," The Quarterly Journal of Economics, MIT Press, vol. 97(4), pages 543-69, November. [Downloadable!] (restricted)
  7. Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-44, June. [Downloadable!] (restricted)
  8. Agell, Jonas & Lundborg, Per, 1995. " Theories of Pay and Unemployment: Survey Evidence from Swedish Manufacturing Firms," Scandinavian Journal of Economics, Blackwell Publishing, vol. 97(2), pages 295-307, June.
  9. George A. Akerlof & William R. Dickens & George L. Perry, 1996. "The Macroeconomics of Low Inflation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(1996-1), pages 1-76. [Downloadable!]
  10. Kahn, Shulamit, 1997. "Evidence of Nominal Wage Stickiness from Microdata," American Economic Review, American Economic Association, vol. 87(5), pages 993-1008, December. [Downloadable!] (restricted)
  11. Akerlof, George A & Yellen, Janet L, 1988. "Fairness and Unemployment," American Economic Review, American Economic Association, vol. 78(2), pages 44-49, May. [Downloadable!] (restricted)
  12. Unknown, 1999. "Discussion," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 572-577, February. [Downloadable!] (restricted)
  13. Ernst Fehr & Simon Gachter & Georg Kirchsteiger, 1997. "Reciprocity as a Contract Enforcement Device: Experimental Evidence," Econometrica, Econometric Society, vol. 65(4), pages 833-860, July.
  14. Unknown, 1999. "Discussion," Journal of Economic Psychology, Elsevier, vol. 20(4), pages 465-483, August. [Downloadable!] (restricted)
  15. Unknown, 1999. "Discussion," Energy Policy, Elsevier, vol. 27(12), pages 737-742, November. [Downloadable!] (restricted)
  16. Unknown, 1999. "Discussion," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 215-220, February. [Downloadable!] (restricted)
  17. Fehr, Ernst & Kirchsteiger, George & Riedl, Arno, 1993. "Does Fairness Prevent Market Clearing? An Experimental Investigation," The Quarterly Journal of Economics, MIT Press, vol. 108(2), pages 437-59, May. [Downloadable!] (restricted)
  18. Lindbeck, Assar & Snower, Dennis J, 1988. "Cooperation, Harassment, and Involuntary Unemployment: An Insider-Outsider Approach," American Economic Review, American Economic Association, vol. 78(1), pages 167-88, March. [Downloadable!] (restricted)
    Other versions:
  19. Blinder, Alan S & Choi, Don H, 1990. "A Shred of Evidence on Theories of Wage Stickiness," The Quarterly Journal of Economics, MIT Press, vol. 105(4), pages 1003-15, November. [Downloadable!] (restricted)
    Other versions:
  20. Joseph G. Altonji & Paul J. Devereux, 1999. "The Extent and Consequences of Downward Nominal Wage Rigidity," NBER Working Papers 7236, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  21. Unknown, 1999. "Discussion," Journal of Economic Psychology, Elsevier, vol. 20(4), pages 495-498, August. [Downloadable!] (restricted)
  22. Solow, Robert M., 1979. "Another possible source of wage stickiness," Journal of Macroeconomics, Elsevier, vol. 1(1), pages 79-82. [Downloadable!] (restricted)
  23. Burda, M. & Gueth, W. & Kirchsteiger, G. & Uhlig, H., 1998. "Employment duration and resistance to wage reductions : experimental evidence," Discussion Paper 73, Tilburg University, Center for Economic Research. [Downloadable!]
    Other versions:
  24. Kirchler, Erich & Fehr, Ernst & Evans, Robert, 1996. "Social exchange in the labor market: Reciprocity and trust versus egoistic money maximization," Journal of Economic Psychology, Elsevier, vol. 17(3), pages 313-341, June. [Downloadable!] (restricted)
  25. Pierre Fortin, 1996. "The Great Canadian Slump," Canadian Journal of Economics, Canadian Economics Association, vol. 29(4), pages 761-87, November. [Downloadable!] (restricted)
  26. Smith, Jennifer C, 2000. "Nominal Wage Rigidity in the United Kingdom," Economic Journal, Royal Economic Society, vol. 110(462), pages C176-95, March. [Downloadable!] (restricted)
  27. Unknown, 1999. "Discussion," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 493-496, February. [Downloadable!] (restricted)
  28. McLaughlin, Kenneth J., 1994. "Rigid wages?," Journal of Monetary Economics, Elsevier, vol. 34(3), pages 383-414, December. [Downloadable!] (restricted)
  29. Unknown, 1999. "Discussion," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 533-536, February. [Downloadable!] (restricted)
  30. Unknown, 1999. "Discussion," Transportation Research Part A: Policy and Practice, Elsevier, vol. 33(7-8), pages 527-547. [Downloadable!] (restricted)
  31. Fehr, Ernst, et al, 1998. "When Social Norms Overpower Competition: Gift Exchange in Experimental Labor Markets," Journal of Labor Economics, University of Chicago Press, vol. 16(2), pages 324-51, April. [Downloadable!] (restricted)
  32. Fehr, Ernst & Klein, Alexander & Schmidt, Klaus M., 2001. "Fairness, Incentives and Contractual Incompleteness," CEPR Discussion Papers 2790, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  33. Unknown, 1999. "Discussion," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 605-607, February. [Downloadable!] (restricted)
  34. David E. Lebow & David J. Stockton & William L. Wascher, 1995. "Inflation, nominal wage rigidity, and the efficiency of labor markets," Finance and Economics Discussion Series 95-45, Board of Governors of the Federal Reserve System (U.S.).
  35. Unknown, 1999. "Discussion," Ecological Economics, Elsevier, vol. 31(1), pages 19-21, October. [Downloadable!] (restricted)
  36. Unknown, 1999. "Discussion," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 387-390, February. [Downloadable!] (restricted)
  37. Unknown, 1999. "Discussion," Journal of Accounting and Public Policy, Elsevier, vol. 18(2), pages 179-180. [Downloadable!] (restricted)
  38. Levine, David I, 1993. "Fairness, Markets, and Ability to Pay: Evidence from Compensation Executives," American Economic Review, American Economic Association, vol. 83(5), pages 1241-59, December. [Downloadable!] (restricted)
  39. Ernst Fehr & Lorenz Goette, 2000. "How Robust are Nominal Wage Rigidities?," Econometric Society World Congress 2000 Contributed Papers 0071, Econometric Society. [Downloadable!]
  40. Unknown, 1999. "Discussion," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 250-254, February. [Downloadable!] (restricted)
  41. Brown, Martin & Falk, Armin & Fehr, Ernst, 2002. "Contractual Incompleteness and the Nature of Market Interactions," CEPR Discussion Papers 3272, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  42. Unknown, 1999. "Discussion," Ecological Economics, Elsevier, vol. 31(1), pages 31-37, October. [Downloadable!] (restricted)
  43. 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.
  44. Unknown, 1999. "Discussion," Journal of Economic Psychology, Elsevier, vol. 20(4), pages 491-494, August. [Downloadable!] (restricted)
  45. Gachter, Simon & Falk, Armin, 2002. " Reputation and Reciprocity: Consequences for the Labour Relation," Scandinavian Journal of Economics, Blackwell Publishing, vol. 104(1), pages 1-26. [Downloadable!] (restricted)
    Other versions:
  46. Unknown, 1999. "Discussion," Ecological Economics, Elsevier, vol. 31(1), pages 23-29, October. [Downloadable!] (restricted)
  47. Unknown, 1999. "Discussion," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 358-366, February. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Jean-Pierre DANTHINE & André KURMANN, 2004. "Efficiency Wages Revisited: The Internal Reference Perspective (new version)," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 04.09, Université de Lausanne, Faculté des HEC, DEEP, revised Jun 2005. [Downloadable!]
  2. Jorge M. Streb, 2006. "Job market signals and signs," CEMA Working Papers: Serie Documentos de Trabajo. 326, Universidad del CEMA. [Downloadable!]
  3. Jan Libich, 2006. "An Explicit Inflation Target As A Commitment Device," CAMA Working Papers 2006-22, Australian National University, Centre for Applied Macroeconomic Analysis. [Downloadable!]
    Other versions:
  4. Danthine, Jean-Pierre & Kurmann, Andre, 2005. "The Macroeconomic Consequences of Reciprocity in Labour Relations," CEPR Discussion Papers 5174, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
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