search query: @author Ramaswamy, R. / total: 4
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| Author: | Ramaswamy, R. Rowthorn, R. E. |
| Title: | Efficiency wages and wage dispersion |
| Journal: | Economica
1991 : NOV, VOL. 58:232, p.501-514 |
| Index terms: | WAGE DETERMINATION EQUILIBRIUM ANALYSIS INEQUALITY WORKERS PAY DIFFERENTIALS |
| Language: | eng |
| Abstract: | The efficiency wage hypothesis, which has normally been used to generate an equilibrium level of unemployment, is used now to generate an equilibrium wage distribution. First the previous work of Solow in this area is generalized, then the results are used on effort-wage elasticities to derive a model of wage dispersion. The wage rate is shown to be an increasing function of the damage potential of workers; that is, workers with the highest damage potential receive the highest wage. The analysis of the equilibrium of the wage distribution provides interesting qualutative insights into the nature of actual wage differentials. |
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