Statements (98)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:economic_policy
|
| gptkbp:assumes |
no migration
no taxes no advertising firms cannot perfectly observe effort risk-neutral workers no international trade no discrimination no externalities no technological change effort is costly to workers exogenous job separation rate fired workers become unemployed firing is costless homogeneous jobs homogeneous workers imperfect monitoring of workers labor market is competitive no aggregate shocks no benefits no borrowing no branding no business cycles no capital no capital markets no career concerns no climate change no customer relationships no demographic change no entrepreneurship no environmental concerns no exchange rates no financial markets no firm entry or exit no firm-specific human capital no fiscal policy no foreign investment no government intervention no government spending no heterogeneity no idiosyncratic shocks no informal sector no innovation no inventory no job ladders no labor force participation decision no labor mobility no land no layoffs no learning no logistics no long-term contracts no marketing no matching function no minimum wage no monetary policy no natural resources no on-the-job search no output if worker shirks no part-time work no population growth no product differentiation no product market competition no promotions no public goods no quits no resource constraints no savings no search frictions no self-employment no supply chain no training no transportation no unemployment benefits no unemployment insurance no unions no wage bargaining no wage rigidity output if worker does not shirk random matching of workers and jobs shirking can be detected with some probability unemployed workers search for jobs wages are set by firms |
| gptkbp:describes |
unemployment as a worker discipline device
|
| gptkbp:explains |
involuntary unemployment
why unemployment persists in equilibrium why wages do not fall to clear the labor market |
| gptkbp:field |
labor economics
|
| https://www.w3.org/2000/01/rdf-schema#label |
Shapiro-Stiglitz model
|
| gptkbp:influenced |
modern labor economics
|
| gptkbp:influencedBy |
theory of efficiency wages
|
| gptkbp:proposedBy |
gptkb:Joseph_Stiglitz
gptkb:Carl_Shapiro |
| gptkbp:publishedIn |
gptkb:American_Economic_Review
|
| gptkbp:relatedTo |
efficiency wage theory
|
| gptkbp:yearProposed |
1984
|
| gptkbp:bfsParent |
gptkb:Yellen-Akerlof_efficiency_wage_model
|
| gptkbp:bfsLayer |
6
|