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Dual Labor Markets, Efficiency Wages, and Search

Author

Listed:
  • Albrecht, James W.

    (Georgetown University)

  • Vroman, Susan B.

    (Georgetown University)

Abstract

This article presents an equilibrium model of a dual labor market. Firms are assumed to be identical ex ante and dualism arises endogenously. The dual labor market outcome is supported by efficiency wage and search considerations. Firms choose wage/effort requirement packages optimally given optimal search and effort choice by workers, and vice versa. The authors prove existence and investigate the occurence and nature of dual labor market equilibria. Copyright 1992 by University of Chicago Press.
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Suggested Citation

  • Albrecht, James W. & Vroman, Susan B., 1990. "Dual Labor Markets, Efficiency Wages, and Search," Working Paper Series 267, Research Institute of Industrial Economics.
  • Handle: RePEc:hhs:iuiwop:0267
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    References listed on IDEAS

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    1. Burdett, Kenneth & Mortensen, Dale T, 1980. "Search, Layoffs, and Labor Market Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 88(4), pages 652-672, August.
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    Citations

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    Cited by:

    1. Marco Di Cintio & Emanuele Grassi, 2015. "Wage Incentive Profiles in Dual Labour Markets," Economica, London School of Economics and Political Science, vol. 82(328), pages 790-812, October.
    2. Mohamed Jellal & Francois-Charles Wolff, 2003. "Dual Labor Markets And Strategic Efficiency Wage," International Economic Journal, Taylor & Francis Journals, vol. 17(3), pages 99-112.
    3. Smith, Tony E. & Zenou, Yves, 1997. "Dual Labor Markets, Urban Unemployment, and Multicentric Cities," Journal of Economic Theory, Elsevier, vol. 76(1), pages 185-214, September.
    4. Jellal, Mohamed & Zenou, Yves, 1999. "Efficiency wages and the quality of job matching," Journal of Economic Behavior & Organization, Elsevier, vol. 39(2), pages 201-217, June.
    5. De Palma, Francesco & Seegmuller, Thomas, 2005. "Dual Labor Market And Endogenous Fluctuations," Macroeconomic Dynamics, Cambridge University Press, pages 398-411.
    6. WAUTHY, Xavier & ZENOU, Yves, 1997. "Efficiency wages, labor heterogeneity and the fInancing of the training cost," CORE Discussion Papers 1997072, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    7. Arai, Kazuhiro, 1997. "Cooperation, job security, and wages in a dual labor market equilibrium," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 26(1), pages 39-57.
    8. Patrice Gaubert & Marie Cottrell, 1999. "Neural Network And Segmented Labour Market," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00134146, HAL.
    9. J. Ignacio, Giménez-Nadal & Jose Alberto, Molina & Jorge, Velilla, 2017. "Leisure and effort at work: incorporating self-employment into urban markets," MPRA Paper 77972, University Library of Munich, Germany.
    10. Schlicht, Ekkehart, . "Job Rents in a Stylized Labor Market," Chapters in Economics, University of Munich, Department of Economics.
    11. Jellal, Mohamed, 2014. "Agglomeration economies and optimal efficiency wage," MPRA Paper 57836, University Library of Munich, Germany.

    More about this item

    Keywords

    Efficiency wages; Search theory; Dual labor market;

    JEL classification:

    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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