An empirical framework for the efficiency-wage model: use of micro data for Nigeria

Article Abstract:

An in-depth empirical analysis of the efficiency-wage theory as applied in a less developed country is presented. A series of regression tests is conducted on Nigerian data to validate the explanatory determinants of inter-industry wage differences as specifically the model's postulates. Results indicate the validity of the model since firms operating under imperfectly competitive conditions are found to maintain higher wages that were not attuned to labor market supply and demand conditions.

Economic policy, Nigeria, Labor mobility

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Defence spending and unemployment rates: an empirical analysis for the OECD

Article Abstract:

A mathematical model has been created to examine the existence of consistent cause and effect occurrences between defense/non-defense spending and the unemployment rate in 18 member states of the Organization for Economic Cooperation and Development (OECD). Empirical data from 1962-1988 was used in the analysis. Results indicate that there is no regular cause and effect pattern between defense/non-defense spending and unemployment rate across all 18 OECD nations studied.

Economic aspects, Employment, Government spending policy, Organization for Economic Cooperation and Development, Defense spending

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Strategic bargaining with firm inventories

Article Abstract:

Research was conducted to examine the impact of a firm's inventory of finished goods on the wage outcome in a strategic bargaining game with random alternating offers. The objective was to show circumstances where the wage bargaining outcome was equivalent to a Nash bargaining solution. Results reveal that the wage increases when demand is high while the wage falls as inventories rise.

Wage Administration, Collective Bargaining, Inventories, Interpretation and construction, Compensation management, Stochastic processes, Collective labor agreements

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