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Labour Turnover, Wage Structure, and Natural Unemployment

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Author Info
Schlicht, Ekkehart

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Abstract

A firm may reduce its turnover and the entailed turnover costs by raising wages. A rise in unemployment reduces turnover and turnover costs in a similar way. The interaction of these effects leads – in presence of perfectly flexible wages – to a stable equilibrium in the labor market which clears the market but accidentally. Unemployment increases with increases in labor mobility. Wage differentials arise between perfectly identical workers working in different firms that face different turnover costs.

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File URL: http://epub.ub.uni-muenchen.de/1255/1/schlicht_labour_turnover-EP.pdf
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Publisher Info
Paper provided by University of Munich, Department of Economics in its series Discussion Papers in Economics with number 1255.

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Date of creation: 1978
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Handle: RePEc:lmu:muenec:1255

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Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
Fax: +49-(0)89-2180-3900
Web page: http://www.vwl.uni-muenchen.de
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Related research
Keywords: efficiency wages; Solow-condition; turnover;

Other versions of this item:

Find related papers by JEL classification:
J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
J6 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies

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. Möller, Joachim, 2005. "Industrierenten und Lohnsetzungsverhalten : gibt es Indizien für die Insider-Outsider Hypothese? (Industry rents and wage settings behaviour * is there evidence to support the insider-outsider hypoth," Zeitschrift für ArbeitsmarktForschung - Journal for Labour Market Research, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 38(2/3), pages 147-164. [Downloadable!]
  2. Schlicht, Ekkehart, 2002. "Hiring Standards and Market Clearing," IZA Discussion Papers 481, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  3. Basu, Kaushik & Genicot, Garance & Stiglitz, Joseph E., 2000. "Unemployment and Wage Rigidity When Labor Supply Is a Household Decision," Working Papers 00-10, Cornell University, Center for Analytic Economics. [Downloadable!]
    Other versions:
  4. Ariane Breitfelder & Udo Broll & Kit Pong Wong, 2008. "Wages, Employment and Futures Markets," Finnish Economic Papers, Finnish Economic Association, vol. 21(2), pages 118-123, Autumn. [Downloadable!]
  5. Joseph E. Stiglitz, 1988. "The Wage-Productivity Hypothesis: Its Economic Consequences and Policy Implications," NBER Working Papers 1976, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  6. Hart, Robert A., 2000. "Hours and Wages in the Depression: British Engineering, 1926-1938," IZA Discussion Papers 132, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  7. Schlicht, Ekkehart, 2001. "Job Rents in a Stylized Labor Market," Discussion Papers in Economics 1254, University of Munich, Department of Economics. [Downloadable!]
  8. Basu, Kaushik & Genicot, Garance & Stiglitz, Joseph E., 1999. "Household labor supply, unemployment, and minimum wage legislation," Policy Research Working Paper Series 2049, The World Bank. [Downloadable!]
  9. Schlicht, Ekkehart, 1981. "Training Costs and Wage Differentials in the Theory of Job Competition," Discussion Papers in Economics 1347, University of Munich, Department of Economics. [Downloadable!]
  10. Michael Hoel, 1990. "Efficiency wages and income taxes," Journal of Economics, Springer, vol. 51(1), pages 89-99, February. [Downloadable!] (restricted)
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