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Efficiency wages, insiders-outsiders and wages determination: theories and evidence

Author

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  • Francisco G. Carneiro

Abstract

The article discusses alternative explanations for the rigidity of real wages in thepresence of involuntary unemployment. It is argued that real wage rigidity can be viewed asthe result of two factors: (i) trade unions’ bargaining power, in the form of insider power;and (ii) the deliberate action of firms which try to avoid the costs associated with labourturnover. The article also presents recent empirical evidence on the importance of insiderfactors in the process of wage determination for a number of countries. JEL Classification: J20; J31.

Suggested Citation

  • Francisco G. Carneiro, 1997. "Efficiency wages, insiders-outsiders and wages determination: theories and evidence," Brazilian Journal of Political Economy, Center of Political Economy, vol. 17(2), pages 278-298.
    • Handle: RePEc:ekm:repojs:v:17:y:1997:i:2:p:278-298:id:1169
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1169/1154
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    More about this item

    Keywords

    Labour demand; labor supply; wages;
    All these keywords.

    JEL classification:

    • J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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