Dynamic Efficiency-Wage Model with Real Business Cycle

Subject Areas : Labor and Demographic Economics

seyed fakhr aldin fakhrhoseini ¹

1 - استادیار دانشگاه آزاد اسلامی واحد ملارد

Received: 2016-10-10 Accepted : 2016-10-10 Published : 2016-04-20

Keywords: E31, E32, JEL Classification: E24, J23 Keywords: DSGE Model, Efficiency Wage, Real Business Cycle, Effort,

Abstract :

The purpose of this paper is to examine the cyclical consequences of Efficiency Wage theory when changing the workers efforts based on Dynamic Real Business Cycle model by using the data collected during 1966-2014. The equations are estimated through oleic approach (1999) as a space-state model in MATLAB context. The results represent that the increase of efforts variability to efficiency wage consideration causes the variables like production, consumption, labor and employment rate react less to technology shock. According to this model, higher level of workers efforts will lead to the increase of employment rate.  

References:

منابع

-      امینی، علیرضا، نشاط حاجی، محمد (1384). برآورد سری زمانی موجودی سرمایه در اقتصاد ایران طی دوره 1338-1381. مجله برنامه و بودجه، (90): 53-86.

-      شاهمرادی، اصغر(1387). بررسی اثرات تغییر قیمت‌های انرژی بر روی سطح قیمت، تولید و رفاه در اقتصاد ایران. طرح پژوهشی مربوط به وزارت اقتصاد و دارایی.

-      طائی، حسن (1385). تابع عرضه نیروی کار: تحلیلی بر پایه داده­های خرد. پژوهش‌های اقتصادی ایران، (29): 93-112.

-      فخرحسینی، سید فخرالدین، شاهمرادی، اصغر، احسانی، محمد علی (1391).‏ چسبندگی قیمت و دستمزد و سیاست پولی در اقتصاد ایران. ‎‏فصلنامه پژوهش‌های اقتصادی، 12 (1): 1-30‏‎.

-      Broadberry. S., Ghosal, S., Proto, E., (2015).   Anonymity, efficiency  wages and technological progress. IZA Discussion Paper No. 8791

-      Danthine, J. and John B. D. (1990). Efficiency wages and the business cycle puzzle, European Economic Review 34: 1275-1301.

-      Hansen, Gary D. 1985. Indivisible labor and the business cycle. Journal of Monetary Economics, 16: 309-327.

-      Shapiro, C., and Stiglitz, J. E. (1984). Equilibrium unemployment as a worker discipline device. American Economic Review, 74: 433-444.

-      Solow, R. M. (1956). A Contribution to the theory of economic growth. Quarterly Journal of Economics, 70: 65-94.

-      Solow, Robert M. (1979). Another possible Source of wage stickiness. Journal of Macroeconomics, 1: 79-82.

-      Uhlig H. and Xu (1996). Effort and the cycle: Cyclical implications of efficiency wages. CentER Discussion Paper: 1996-49.

-      Uhlig, H.(1999). A toolkit for analyzing nonlinear dynamic stochastic models easily. Oxford University Press.