Yellen-Akerlof efficiency wage model
GPTKB entity
Statements (18)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:economic_policy
|
| gptkbp:basedOn |
gptkb:efficiency_wage_hypothesis
|
| gptkbp:describes |
relationship between wages and worker effort
|
| gptkbp:explains |
involuntary unemployment
|
| gptkbp:field |
labor economics
|
| gptkbp:hasConcept |
firms pay above-market wages to increase worker productivity
higher wages reduce shirking worker effort depends on relative wage |
| https://www.w3.org/2000/01/rdf-schema#label |
Yellen-Akerlof efficiency wage model
|
| gptkbp:influencedBy |
gptkb:Shapiro-Stiglitz_model
|
| gptkbp:proposedBy |
gptkb:George_Akerlof
gptkb:Janet_Yellen |
| gptkbp:publishedIn |
gptkb:Quarterly_Journal_of_Economics
|
| gptkbp:relatedTo |
efficiency wage theory
labor market equilibrium |
| gptkbp:yearProposed |
1986
|
| gptkbp:bfsParent |
gptkb:Janet_Louise_Yellen
|
| gptkbp:bfsLayer |
5
|