Equilibration in the Labor Market
The competitive theory prediction that noncompensating wage differentials are liquidated in the dynamic setting is tested. Results indicate an equilibrating labor market, except for the finding that job stayers maintain positive differentials. Market contact facilitates the equilibrating process. Th...
Gespeichert in:
Veröffentlicht in: | Southern economic journal 1978-07, Vol.45 (1), p.192-204 |
---|---|
1. Verfasser: | |
Format: | Artikel |
Sprache: | eng |
Schlagworte: | |
Online-Zugang: | Volltext |
Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
Zusammenfassung: | The competitive theory prediction that noncompensating wage differentials are liquidated in the dynamic setting is tested. Results indicate an equilibrating labor market, except for the finding that job stayers maintain positive differentials. Market contact facilitates the equilibrating process. The erosion of existing market differentials is 4 times greater for job changers. Market forces facilitate the worker's attainment of his potential wage at full employment. But a significant group of workers remains insulated from market forces and maintains existing rents. Under conditions of deterioration in aggregate labor market conditions, the liquidation of negative differentials declines and rents are expropriated. |
---|---|
ISSN: | 0038-4038 2325-8012 |
DOI: | 10.2307/1057626 |