Title of article
Macroeconomic effects of product market competition in a dynamic efficiency wage model
Author/Authors
Bruno Amable، نويسنده , , Donatella Gatti، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2002
Pages
8
From page
39
To page
46
Abstract
This paper proposes a model of monopolistic competition where wages are set according to a dynamic efficiency wage mechanism. We show that increased product market competition boosts labour turnover, widens wage differentials across sectors, and amplifies employment adjustments following adverse shocks.
Keywords
Labour turnover , Efficiency wage , Imperfect competition
Journal title
Economics Letters
Serial Year
2002
Journal title
Economics Letters
Record number
434899
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