Statements (27)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:economic_policy
|
| gptkbp:associatedWith |
adverse selection
turnover costs shirking model sociological models |
| gptkbp:contrastsWith |
classical labor market theory
|
| gptkbp:developedBy |
1970s
1980s |
| gptkbp:explains |
involuntary unemployment
|
| gptkbp:field |
labor economics
|
| https://www.w3.org/2000/01/rdf-schema#label |
efficiency wage hypothesis
|
| gptkbp:notableFigure |
gptkb:George_Akerlof
gptkb:Janet_Yellen gptkb:Joseph_Stiglitz gptkb:Carl_Shapiro |
| gptkbp:proposedBy |
firms may pay above-market wages to increase productivity
higher wages can attract higher quality workers higher wages can improve morale higher wages can reduce shirking higher wages can reduce turnover |
| gptkbp:publishedIn |
gptkb:Quarterly_Journal_of_Economics
|
| gptkbp:relatedTo |
gptkb:business
productivity unemployment wage rigidity |
| gptkbp:bfsParent |
gptkb:Yellen-Akerlof_efficiency_wage_model
|
| gptkbp:bfsLayer |
6
|