The efficiency wage hypothesis: a mesoeconomic analysis

Article Abstract:

The efficiency wage hypothesis is applied to the mesoeconomic model to examine the effects of a nominal shock. The weak positive correlation between real wage and employment is captured with a modified formulation of the efficiency wage hypothesis and increasing return to scale, so as to show that nominal shocks may have real effects in an economy without a continuum of equilibria.

Analysis, Wages, Wages and salaries, Pay-for-knowledge systems, Pay for knowledge systems, Salary

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Inframarginal analysis of division of labor. A survey

Article Abstract:

An updated survey of the rapidly growing literature on inframarginal analysis of division of labor, tracing the development of this literature since its emergence in the 1970s and exploring the linkages between this literature and classical ideas on division of labor and contemporary work from other research programs is presented.

Forecasts, trends, outlooks, Forecasts and trends, Economic research, Market trend/market analysis

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General equilibria in large economies with endogenous structure of division of labor

Article Abstract:

A general equilibrium model that allows for increasing returns to labor specialization is described.

Management dynamics, Management, Company business management

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