Stocasthic frontiers and wage inefficiency in Venezuela
This paper analyzes wage inefficiency in Venezuela in 2006 based on the methodology of stochastic frontiers. Empirical results indicate that employers’ inefficiency is above 30%, while for employees inefficiency is not statistical significant. This can be explained by government role in the labor market and by the fact that employers may be paying efficiency wages to increase productivity.
Volume (Year): 37 (2012)
Issue (Month): 33 (January-june)
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- Juan Miguel VILLA LORA, 2006. "Propuesta para la estimación del salario de reserva de los empleados en Colombia con el análisis de fronteras estocásticas," ARCHIVOS DE ECONOMÍA 003402, DEPARTAMENTO NACIONAL DE PLANEACIÓN.
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- Aigner, Dennis & Lovell, C. A. Knox & Schmidt, Peter, 1977. "Formulation and estimation of stochastic frontier production function models," Journal of Econometrics, Elsevier, vol. 6(1), pages 21-37, July.
- Polachek, Solomon W & Yoon, Bong Joon, 1996. "Panel Estimates of a Two-Tiered Earnings Frontier," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 11(2), pages 169-78, March-Apr.
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