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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