Efficiency Wage Theory, Labor Markets, and Adjustment
| Author | : Luis A. Riveros |
| Publisher | : |
| Total Pages | : 44 |
| Release | : 1991 |
| ISBN-10 | : UCSD:31822006714919 |
| ISBN-13 | : |
| Rating | : 4/5 ( Downloads) |
Book Synopsis Efficiency Wage Theory, Labor Markets, and Adjustment by : Luis A. Riveros
Download or read book Efficiency Wage Theory, Labor Markets, and Adjustment written by Luis A. Riveros and published by . This book was released on 1991 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Efficiency wage theory suggests that wages (and hence labor markets) may be unresponsive to typical macroeconomic policies that seek to lower real wages, change resource allocation, and reduce open unemployment. Under this theory, firms will react to macroeconomic shocks by altering employment (laying workers off), not wages.