haku: @indexterm EFFICIENCY-WAGE MODELS / yhteensä: 7
viite: 6 / 7
| Tekijä: | Agenor, P-R. Aizenman, J. |
| Otsikko: | Technological change, relative wages, and unemployment |
| Lehti: | European Economic Review
1997 : FEB, VOL. 41:2, p. 187-205 |
| Asiasana: | EFFICIENCY-WAGE MODELS LABOUR MARKETS EMPLOYMENT |
| Kieli: | eng |
| Tiivistelmä: | The paper examines the effect of skilled-biased technological shocks on the structure of wages and the composition of employment in a two-sector economy with a heterogeneous work force. Efficiency wage considerations, turnover costs and minimum wage legislation lead to labor market segmentation and equilibrium unemployment. The analysis focuses on the effects of a technological shock that raises the demand for skilled labor and reduces the demand for un-skilled labor, in such a way that the total demand for labor in the primary sector with high wages remains constant at initial wages. The presence of efficiency considerations implies that such a shock tends to reduce total employment in that sector. Efficiency factors and initial un-employment are shown to magnify the adverse employment effects of pro-skilled technological progress. |
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