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Supervision and Effort in an Intertemporal Efficiency Wage Model: The Role of the Solow Condition

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  • Joao Ricardo Faria

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    Abstract

    The Solow condition is examined in an intertemporal model that blends the shirking and the turnover models of efficiency wages with managerial supervision. It is shown that the Solow condition does not hold when shirking and turnover costs are considered. The Solow condition can be a possible outcome when managerial productivity offsets shirking and turnover costs.

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    File URL: ftp://ftp.ukc.ac.uk/pub/ejr/RePEc/ukc/ukcedp/9814.pdf
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    Bibliographic Info

    Paper provided by Department of Economics, University of Kent in its series Studies in Economics with number 9814.

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    Date of creation: Aug 1998
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    Publication status: Published in Economic Letters, 2000, 67, pp.93-98
    Handle: RePEc:ukc:ukcedp:9814

    Contact details of provider:
    Postal: Department of Economics, University of Kent at Canterbury, Canterbury, Kent, CT2 7NP
    Phone: +44 (0)1227 764000
    Fax: +44 (0)1227 827850
    Web page: http://www.ukc.ac.uk/economics/

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    Related research

    Keywords: Labour-Management Relations; Efficiency Wages; Unemployment; Turnover;

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    1. 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.
    2. Lin, Chung-cheng & Lai, Ching-chong, 1994. "The turnover costs and the Solow condition in an efficiency wage model with intertemporal optimization," Economics Letters, Elsevier, vol. 45(4), pages 501-505, August.
    3. Salop, Steven C, 1979. "A Model of the Natural Rate of Unemployment," American Economic Review, American Economic Association, vol. 69(1), pages 117-25, March.
    4. Christopher Martin, . "Efficiency Wages: Combining the Shirking and Turnover Cost Models," Economics and Finance Discussion Papers 97-09, Economics and Finance Section, School of Social Sciences, Brunel University.
    5. Marti, Christopher, 1997. "Efficiency wages: combining the shirking and turnover cost models," Economics Letters, Elsevier, vol. 57(3), pages 327-330, December.
    6. 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.
    7. Solow, Robert M., 1979. "Another possible source of wage stickiness," Journal of Macroeconomics, Elsevier, vol. 1(1), pages 79-82.
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