政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/59139

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 113656/144643 (79%)
Visitors : 51715000 Online Users : 569

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大機構典藏 > 社會科學學院 > 財政學系 > 期刊論文 > Item 140.119/59139

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/59139

Title:	Reciprocity and downward wage rigidity
Authors:	Lin,Chung-Cheng;Yang,C.C.
Contributors:	政大財政系
Keywords:	Reciprocity;Downward wage rigidity;Social norm;Efficiency wage
Date:	2010-12
Issue Date:	2013-08-26 16:10:31 (UTC+8)
Abstract:	The employment relationship is to a large extent characterized by incomplete contracts, in which workers have a considerable degree of discretion over the choice of their work effort. This discretion at work kicks in the potential importance of “gift exchange” or reciprocity between workers and employers in their employment relationship. Built on the seminal work of Akerlof (1980), this paper adopts a social norm approach to model reciprocity in labor markets and theoretically derives two versions of downward wage rigidity. The first version explains why employers may adopt a high wage policy far above the competitive level. This version is not a novel finding in the existing literature and is mainly served as a benchmark for later comparison in the current paper. Our main contribution lies in the second version in which not only may employers adopt a high wage policy far above the competitive level, but one can also account for the asymmetric behavior of wages and explain why employers are hesitant about wage cuts in the presence of negative shocks. We argue that this second and stronger version of downward wage rigidity has moved the efficiency wage theory a step forward.
Relation:	Journal of Macroeconomics, 32(4), 1155-1168
Data Type:	article
DOI 連結:	http://dx.doi.org/http://dx.doi.org/10.1016/j.jmacro.2010.07.002
DOI:	10.1016/j.jmacro.2010.07.002
Appears in Collections:	[財政學系] 期刊論文

Files in This Item:

File	Description	Size	Format
1155.pdf		398Kb	Adobe PDF2	1026	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...