UNA EXPLICACIÓN A LA CURVA DE SALARIOS

oleh: Daniel Velázquez Orihuela, Zeus Salvador Hernández Veleros

Format: Article
Diterbitkan: Universidad Nacional de Colombia 2018-01-01

Deskripsi

The wage curve and involuntary unemployment can usually be explained by the efficiency wage theory. However, the explanations are contradictory. In efficiency wage theory, unemployment is caused by high wage; however, for the wage curve, the low wage is due to high unemployment. In this paper, we present an efficiency wage model with equilibrium restricted by demand. Our model shows that the explications of unemployment and wage curve are indeed congruent.