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- DescriptionThe Theory of Quality Wages contributes to the understanding of the observed pattern of the interindustry wage structure and of unemployment. Basically, it is a modification of the efficiency wage theory grounded on an essential feature of modern manufacturing firms. The basic quality wage hypothesis states that in order to produce improved quality, better (and t more) workers are needed. From this simple specification it immediately follows that firms with a higher degree of market power and capital-intensive firms pay higher wages. Moreover, by predicting above market clearing wages, the model yields an explanation of unvoluntary unemployment.
- Author BiographyThe Author: Eva Pichler was born in Vienna in 1958. She studied economics at the University of Vienna. She is assistant professor at the Wirtschaftsuniversitaet Wien.
- Author(s)Eva Pichler
- PublisherPeter Lang GmbH
- Date of Publication01/09/1994
- SubjectEconomics: Professional & General
- Series TitleEuropean University Studies
- Series Part/Volume Numberv. 1557
- Place of PublicationFrankfurt am Main
- Country of PublicationGermany
- First Published1994
- ImprintPeter Lang GmbH
- Content Note6 tab., 18 graph.
- Weight300 g
- Width148 mm
- Height210 mm
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