The Interaction Between Efficiency Wage Theories and Labour Turnover Costs
The Interaction Between Efficiency Wage Theories and Labour Turnover Costs

Author: Eric Toulemonde

Publisher:

Published: 2003

Total Pages: 0

ISBN-13:

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We develop a simple model to illustrate how the effects of turnover costs on wages can be reinforced by an efficiency wage effect. The insider-outsider theory explains why labour turnover costs allow the insiders to earn higher wages than outsiders. According to the efficiency wage theory, higher wages enhance the insiders' productivity. Therefore, the costs of replacing an insider by a low-paid, low-productivity outsider are increased, which allows the insiders to raise their wages further. Again, higher wages increase insiders' productivity, which allows them to earn still higher wages, and so on. Thus, the existence of a link between effort and wages can reinforce the effects of labour turnover costs on wages.

Efficiency Wage
Efficiency Wage

Author: Fouad Sabry

Publisher: One Billion Knowledgeable

Published: 2024-02-12

Total Pages: 301

ISBN-13:

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What is Efficiency Wage The term efficiency wages was introduced by Alfred Marshall to denote the wage per efficiency unit of labor. Marshallian efficiency wages are those calculated with efficiency or ability exerted being the unit of measure rather than time. That is, the more efficient worker will be paid more than a less efficient worker for the same amount of hours worked. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Efficiency wage Chapter 2: Labour economics Chapter 3: Minimum wage Chapter 4: New Keynesian economics Chapter 5: Phillips curve Chapter 6: Employment Chapter 7: Principal-agent problem Chapter 8: Personnel economics Chapter 9: Signalling (economics) Chapter 10: Labour market flexibility Chapter 11: Compensating differential Chapter 12: Insider-outsider theory of employment Chapter 13: Ekkehart Schlicht Chapter 14: Involuntary unemployment Chapter 15: Union wage premium Chapter 16: Monopsony Chapter 17: Rehn-Meidner model Chapter 18: Real rigidity Chapter 19: Wage compression Chapter 20: Shapiro-Stiglitz theory Chapter 21: Gift-exchange game (II) Answering the public top questions about efficiency wage. (III) Real world examples for the usage of efficiency wage in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Efficiency Wage.

Macroeconomics
Macroeconomics

Author: Errol D'Souza

Publisher: Pearson Education India

Published: 2009-05

Total Pages: 516

ISBN-13: 9788131708187

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Errol D'Souza's Macroeconomics helps students realize the connections between theoretical frameworks and the actual behaviour of the economy; enables instructors to teach macroeconomics concepts within the context of both the Indian and global economy; and provides policymakers with material from current research in macroeconomics. The focus of the book rests on the analysis of macroeconomic thought in terms of the intuition and underlying logic that forms its basis. This book has been designed to help readers think independently about real-world situations, by helping them master the basic technical tools that enable them to do this. At a conceptual level, the book focuses on the most current and relevant issues, while also understanding the fluidity of the subject.