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Anonymity, efficiency wages and technological progress

Abstract:

Although the industrial revolution is often characterized as the culmination of a process of commercialisation, the precise nature of such a link remains unclear. This paper provides an analysis of one such link: the role of commercialisation in raising wages as impersonal labour market transactions replace personalized customary relations. In the presence of an aggregate capital externality, we show that the resulting shift in relative factor prices will, under certain conditions, lead to hi...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Accepted Manuscript

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Publisher copy:
10.1016/j.jdeveco.2016.06.002

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Institution:
University of Oxford
Department:
Oxford, SSD, Economics
Publisher:
Elsevier Publisher's website
Journal:
Journal of Development Economics Journal website
Volume:
127
Pages:
379-394
Publication date:
2016-06-27
DOI:
ISSN:
0304-3878
URN:
uuid:a49a38b5-5f34-4e47-a1b6-969ba146479a
Source identifiers:
631743
Local pid:
pubs:631743

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