test of efficiency-wage model for iran''s economy
پاییز 1385 - شماره 17 ISC (10 صفحه - از 127 تا 136)
According to efficiency- wage model, the firms instead of paying the market clearing wages will pay the real wages which enhance the productivity of their workers. In this approach wage is an independent variable which will influence the performance of the firms. On the other hand, one can say that when productivity and efficiency increase the firms will be induced to pay higher wages to their workers. In this study we have investigated the relationship between the wages and the productivity for the period 1984-2004. The results show that the causality is from wages to efficiency and productivity. Among the variables which are expected to have influence on productivity and efficiency, oil revenue is the dominant factor. Real wages also had a positive and significant effect which is consistent with efficiency- wage theory; even though its effect is very small.خلاصه ماشینی:
"In doing so, condition for profit maximization is that the firm should hire labor up to the point where its marginal product is equal to the efficiency wage. In doing so, condition for profit maximization is that the firm should hire labor up to the point where its marginal product is equal to the efficiency wage. ] Fig1: The Growth of total Factor Productivityand Efficiency 3-2- Causality Test As it was explained in section2, efficiency wage theory emphasizes that firms can use the wages to enhance the workers'''' effort and prevent their shirking. Table 1: The causality test between growth of productivity, efficiency and Wages $$$ 3-3- Estimating the effects of wages on productivity and efficiency In order to see the effects of wages on productivity and efficiency we have estimated some equations, in which other factors such as variation in oil revenues, level of education of labor force, government employees and social environment are also included . ] The factors in equation (9) and (10) are: TFP, total factor productivity; TE efficiency index; DOILL a dummy for those years in which the reduction in oil revenues were more than 10 percent; DOILU a dummy variable for those years in which the increase in oil revenues were more than 10 percent ; w average wages with 1997 prices ; EDU human capital measured with the years of education for employed workers ; CR the number of per capita cases investigated in the courts ; NG number of government employees ."
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