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Autor:innen: 
Erscheinungsjahr: 
1997
Schriftenreihe/Nr.: 
Center Discussion Paper No. 772
Verlag: 
Yale University, Economic Growth Center, New Haven, CT
Zusammenfassung: 
This paper examines the apparent conflict between the classical assumption of a bargaining agricultural sector wage and the neoclassical assumption of a competitive wage in the context of a labor surplus developing economy. It concludes that the relatively inelastic supply of labor hours offered by low income small or landless farmers in the static micro-economic leisure/work context is perfectly consistent with the persistence for some time of an institutional real wage offered to the non-agricultural sector of the dual economy. Empirical evidence is brought to bear in support of that position.
Schlagwörter: 
Institutional vs. Competitive Real Wage
Labor Surplus Economy
Neoclassical vs. Classical Labor Markets
Dokumentart: 
Working Paper

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