The basic efficiency wage model is analysed with real wages and cost pricing firm. The Solow condition implies that the effort wage output price elasticity is zero. Some empirical evidence from the US crude petroleum and natural gas industry and a sample of Finnish manufacturing industries does...

Four alternative tests for nonstationarity and stationarity are analysed in detail for a typical macro-economic time series. The analysed tests (ADF, LMSP, KPSS and G(p, q) tests) are asymptotical tests for the type of process considered. The small sample simulations reveal that the empirical...