We extend the efficiency wage model of Shapiro and Stiglitz to account for the observation that workers’ effort has a tendency to fall when they approach the end of their employment contract. In particular, we find that the efficiency wage increases when the end of term approaches for a given rate of unemployment. We draw implications for the behavior of workers who are approaching retirement, temporary employment contracts, and the advance notice of impending job loss.
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- Benoit Dostie, 2011.
"Wages, Productivity and Aging,"
Springer, vol. 159(2), pages 139-158, June.
- Dostie, Benoit, 2006. "Wages, Productivity and Aging," IZA Discussion Papers 2496, Institute for the Study of Labor (IZA).
- Benoit Dostie, 2006. "Wages, Productivity and Aging," Cahiers de recherche 0645, CIRPEE.
- Benoit Dostie, 2006. "Wages, Productivity and Aging," Cahiers de recherche 06-15, HEC Montréal, Institut d'économie appliquée.
- Benoit Dostie, 2007. "Wages, Productivity and Aging," CIRANO Working Papers 2007s-02, CIRANO.
- Fair, Ray C, 1994. "How Fast Do Old Men Slow Down?," The Review of Economics and Statistics, MIT Press, vol. 76(1), pages 103-118, February.
- Ray C. Fair, 1991. "How Fast Do Old Men Slow Down?," Cowles Foundation Discussion Papers 989, Cowles Foundation for Research in Economics, Yale University.
- Ray C. Fair, 1991. "How Fast Do Old Men Slow Down?," NBER Working Papers 3757, National Bureau of Economic Research, Inc.
- Addison, John T & Chilton, John B, 1997. "Nondisclosure as a Contract Remedy: Explaining the Advance-Notice Puzzle," Journal of Labor Economics, University of Chicago Press, vol. 15(1), pages 143-164, January.
- Ray Fair, 2004. "Estimated Age Effects in Athletic Events and Chess," Yale School of Management Working Papers amz2481, Yale School of Management, revised 01 Aug 2007. Full references (including those not matched with items on IDEAS)
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