File:Efficiency wage Shapiro Stiglitz.svg
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Size of this PNG preview of this SVG file: 500 × 400 pixels. Other resolutions: 300 × 240 pixels | 600 × 480 pixels | 960 × 768 pixels | 1,280 × 1,024 pixels | 2,560 × 2,048 pixels.
Original file (SVG file, nominally 500 × 400 pixels, file size: 41 KB)
Summary
| Description |
English: Efficiency wage chart based on Sharpiro and Stiglitz (1984) "[Equilibrium Unemployment as a Worker Discipline Device" in the American Economic Review. Chart also draws from the interpretation in Brian Snowdon and Howard Vane (2005) Modern Macroeconomics. The chart represents the Shapiro-Stiglitz model of efficiency wages. The model shows employment below the full employment level and the wage is found at the intersection of the demand for labor and the no-shirking condition. The wage is higher than it would be at full employment.] |
| Date | |
| Source | Own work |
| Author | Bkwillwm |
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Permission is granted to copy, distribute and/or modify this document under the terms of the GNU Free Documentation License, Version 1.2 or any later version published by the Free Software Foundation; with no Invariant Sections, no Front-Cover Texts, and no Back-Cover Texts. A copy of the license is included in the section entitled GNU Free Documentation License. |
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File history
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| Date/Time | Thumbnail | Dimensions | User | Comment | |
|---|---|---|---|---|---|
| current | 01:04, 30 January 2011 | | 500 × 400 (41 KB) | wikimediacommons>Bkwillwm | Alter label |
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