Maurice Tutor

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    Argosy University/ Phoniex University/
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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 02 Feb 2018 My Price 7.00

Union wage premiums

Union wage premiums and efficiency wages. (Summers, 1988.) Consider the efficiency-wage model analyzed in equations (10.12)–(10.17). Suppose, however, that fraction f of workers belong to unions that are able to obtain a wage that exceeds the nonunion wage by proportion μ. Thus, wu = (1 + μ)wn,

where wu and wn denote wages in the union and nonunion sectors; and the average wage, wa, is given by f wu+(1− f)wn. Nonunion employers continue to set their wages freely; thus (by the same reasoning used to derive [10.15] in the text),

(a) Find the equilibrium unemployment rate in terms of β, b, f, and μ.

(b) Suppose μ = f = 0. 15.

(i) What is the equilibrium unemployment rate if β = 0.06 and b = 1? By what proportion is the cost of effective labor higher in the union sector than in the nonunion sector?

(ii) Repeat part (i) for the case of β = 0.03 and b = 0.5.

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Maurice Tutor
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Status NEW Posted 02 Feb 2018 09:02 PM My Price 7.00

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