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Efficiency Wages Versus Insiders and Outsiders

In: 40 Years of Research on Rent Seeking 2

Author

Listed:
  • Assar Lindbeck

    (University of Stockholm)

  • Dennis J. Snower

    (University of London)

Abstract

This paper aims to evaluate two competing microeconomic foundations of involuntary unemployment: the efficiency-wage theory and the insider-outsider theory. These theories compete not by being mutually exclusive, but by identifying different microeconomic sources of involuntary unemployment.

Suggested Citation

  • Assar Lindbeck & Dennis J. Snower, 1987. "Efficiency Wages Versus Insiders and Outsiders," Springer Books, in: Roger D. Congleton & Kai A. Konrad & Arye L. Hillman (ed.), 40 Years of Research on Rent Seeking 2, pages 657-666, Springer.
  • Handle: RePEc:spr:sprchp:978-3-540-79247-5_39
    DOI: 10.1007/978-3-540-79247-5_39
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