efficiency benefit of corporatism. For laborers in manufacturing, we find that wage hikes result in productivity gains. Managers …Conventional theory predicts that productivity gains lead to hikes in real pay. Efficiency wage theory hypothesizes … that pay increases can lead to productivity improvements. But would such results be observed in a corporatist economy with …

We introduce "fair" wages in a general-equilibrium model where worker's effort is unobservable and investigate whether … internalize the effect that past wages have on current effort level. We calibrate the model to Bulgarian data (1999-2016), and … quantify the effect of technological shocks on hours and wages in the theoretical setup. Overall, the calibrated model with …

We introduce "fair" wages in a general-equilibrium model where worker's effort is unobservable and investigate whether … internalize the effect that past wages have on the current effort level. We calibrate the model to Bulgarian data (1999-2016), and … quantify the effect of technological shocks on hours and wages in the theoretical setup. Overall, the calibrated model with …

bargaining. But it is not always true that equilibrium wages exceed those under individual bargaining. If unemployment benefits … are sufficiently low, collectively bargained wages are smaller. The theory sheds new light on policies concerned with …

efficiency wages with managerial supervision. It is shown that the Solow condition does not hold when shirking and turnover costs … are considered. The Solow condition can be a possible outcome when managerial productivity offsets shirking and turnover …

This paper extends the efficiency wages/partially adaptive expectations Phillips curve, otherwise known as the price …

union density on firm productivity and wages in the population of Norwegian firms over the period 2001 to 2012. Increases in … union density lead to substantial increases in firm productivity and wages having accounted for the potential endogeneity of …

efficiency wages with managerial supervision. It is shown that the Solow condition does not hold when shirking and turnover costs … are considered. The Solow condition can be a possible outcome when managerial productivity offsets shirking and turnover …