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Supervision and Effort in an Intertemporal Efficiency Wage Model: The Role of the Solow Condition

  • Joao Ricardo Faria

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    The Solow condition is examined in an intertemporal model that blends the shirking and the turnover models of efficiency wages with managerial supervision. It is shown that the Solow condition does not hold when shirking and turnover costs are considered. The Solow condition can be a possible outcome when managerial productivity offsets shirking and turnover costs.

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    File URL: ftp://ftp.ukc.ac.uk/pub/ejr/RePEc/ukc/ukcedp/9814.pdf
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    Paper provided by School of Economics, University of Kent in its series Studies in Economics with number 9814.

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    Date of creation: Aug 1998
    Date of revision:
    Publication status: Published in Economic Letters, 2000, 67, pp.93-98
    Handle: RePEc:ukc:ukcedp:9814
    Contact details of provider: Postal: School of Economics, University of Kent, Canterbury, Kent, CT2 7NP
    Phone: +44 (0)1227 827497
    Web page: http://www.kent.ac.uk/economics/

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    1. Salop, Steven C, 1979. "A Model of the Natural Rate of Unemployment," American Economic Review, American Economic Association, vol. 69(1), pages 117-25, March.
    2. Lin, Chung-cheng & Lai, Ching-chong, 1994. "The turnover costs and the Solow condition in an efficiency wage model with intertemporal optimization," Economics Letters, Elsevier, vol. 45(4), pages 501-505, August.
    3. Solow, Robert M., 1979. "Another possible source of wage stickiness," Journal of Macroeconomics, Elsevier, vol. 1(1), pages 79-82.
    4. Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-44, June.
    5. Marti, Christopher, 1997. "Efficiency wages: combining the shirking and turnover cost models," Economics Letters, Elsevier, vol. 57(3), pages 327-330, December.
    6. Krueger, Alan B & Summers, Lawrence H, 1988. "Efficiency Wages and the Inter-industry Wage Structure," Econometrica, Econometric Society, vol. 56(2), pages 259-93, March.
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