Efficiency Wages Versus Insiders and Outsiders

This paper compares two theories of involuntary unemployment: the efficiency-wage theory and the insider-outsider theory. We indicate that one of the central problems in providing microfoundations for the existence of involuntary unemployment is to explain why there is no underbidding, and we compare the two theories in this contex.

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Year of publication:	1986-10
Authors:	Lindbeck, Assar ; Snower, Dennis J.
Institutions:	C.E.P.R. Discussion Papers
Subject:	Efficiency Wages \| Insiders \| Outsiders \| Underbidding \| Unemployment

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Extent:	application/pdf
Series:	CEPR Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	Number 133
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005661489