Economics, Econometrics and Finance
4 years ago

Efficiency wages or bargaining? New study reveals surprising independence.

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RePEc: Research Papers in Economics
Efficiency wages and bargaining
Frank Walsh

Paper Summary

Efficiency wages and bargaining are usually separate concepts. If the wage agreed upon in bargaining meets the efficiency wage requirement, efficiency wages don't matter. But if the wage doesn't meet the efficiency wage standard, then efficiency wages come into play and bargaining doesn't matter.

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