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An Efficiency Wage - Imperfect Information Model of the Aggregate Supply Curve
(Munich Personal RePEc Archive, 2009-05)
This study derives a reduced-form equation for the aggregate supply curve from a model in which firms pay efficiency wages and workers have imperfect information about average wages at other firms. If specific assumptions ...
A Model of the Determinants of Effort
This study derives an expression for effort from utility-maximizing behavior on the part of workers, whose utility depends on consumption, effort, and the ratio between their wage and their perceived fair wage. Unlike many ...
An Efficiency Wage Approach to Reconciling the Wage Curve and the Phillips Curve
This study develops an efficiency wage model that generates a wage curve at the regional level and a Phillips curve at the national level, under the assumption that workers' efficiency depends on both regional and aggregate ...