English, Article, Journal or magazine article edition: Gift exchange and the business cycle: the fair wage strikes back Collard, Fabrice; de la Croix, David

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/3963
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Gift exchange and the business cycle: the fair wage strikes back
Author
  • Collard, Fabrice
  • de la Croix, David
Physical Description
  • preprint
Notes
  • We extend the benchmark RBC model amending the technology for efficiency wage considerations. The disutility of effort depends on current, alternative and past wages. Past wages are treated as the worker's past wages (personal norm case) or as the past wages of the society (social norm case). This last model reproduces the high variability of employment, the low variability of wages and the low wage-employment correlation without requiring a second source of impulsions. Moreover the dynamics of wages and employment is adequately captured when norms adjust slowly to the environment. Efficiency wages are thus useful to solve the business cycle puzzle when we allow for inter-temporal wage comparisons.
  • efficiency wage; effort; time-non-separability; RBC; wage sluggishness; business cycle puzzle
  • RePEc:ctl:louvir:1997008
Language
  • English
Contributed by
OAIster

Get this edition

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment