Efficiency wages : variants and implications

Ekkehart Schlicht

Higher wages increase labor costs but improve the productivity of the labor force through several channels. If firms take this into account and set their wages accordingly, the resulting wages may fail to adjust demand and supply but may engender phenomena like over-education, discrimination, regional wage differentials and a tendency for larger firms paying higher wages. All these phenomena are well established empirically. Efficiency wage theory provides an integrated explanation for them, rather than a sundry list of diverse reasons. At the same time, it provides an efficiency argument for progressive income taxation.

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Year of publication:	09. Mrz. 2016
Authors:	Schlicht, Ekkehart
Publisher:	Munich : Department of Economics, University of Munich
Subject:	efficiency wages \| selection wages \| turnover wages \| discipline wages \| shirking \| size-wage effect \| firm-size effect \| congestion-wage effect \| Reder-competition \| discrimination \| hiring standards \| minimum wage \| income taxation \| Effizienzlohn \| Efficiency wages \| Theorie \| Theory \| Mindestlohn \| Minimum wage \| Lohnstruktur \| Wage structure \| Qualifikation \| Occupational qualification \| Arbeitsmobilität \| Labour mobility

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Extent:	1 Online-Ressource (circa 15 Seiten) Illustrationen
Series:	Münchener Wirtschaftswissenschaftliche Beiträge : VWL ; discussion papers. - München : Univ., ZDB-ID 2296321-2. - Vol. no. 2016-4
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	hdl:10419/144888 [Handle]
Classification:	J24 - Human Capital; Skills; Occupational Choice; Labor Productivity ; J31 - Wage Level and Structure; Wage Differentials by Skill, Training, Occupation, etc ; J63 - Turnover; Vacancies; Layoffs ; J71 - Discrimination ; M52 - Compensation and Compensation Methods and Their Effects (stock options, fringe benefits, incentives, family support programs) ; D21 - Firm Behavior ; H21 - Efficiency; Optimal Taxation ; H3 - Fiscal Policies and Behavior of Economic Agents
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011438256