A Hicksian Model of Labour Turnover and Local Wage Determination
Bibliographic Data
| ID | 4898554 |
|---|---|
| Authors | Gordon L Clark (0000-0003-3159-7674, Harvard University, corresponding author) |
| Year | 1981 |
| Volume | 13 |
| Issue | 5 |
| Pages | 563-574 |
| Publication date | 1981-05-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Environment and Planning A Economy and Space (JOURNAL) |
| Journal identifiers | ISSN: 0308-518X • E-ISSN: 1472-3409 |
| Publisher | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1068/a130563 |
| OpenAlex | W2103004153 |
| Language | EN |
| Citations received | 6 |
| References cited | 13 |
Employers have a variety of reasons for attempting to stabilize turnover in their labour force. For example, specific skill requirements, the added costs of training inherent in hiring new workers, and the absolute demand for labour may stimulate firms to minimize labour turnover. One way of reducing turnover is for the individual firm to raise its wage rates. However, depending upon the relative tightness of the local labour market (reflected in the rates of hiring and unemployment), this could result in widespread wage competition amongst employers and general increases in the aggregate local wage rate. The significance of quits, hires, and unemployment are explored, in an attempt to explain differential urban wage inflation in the United States. Emphasis is placed on Hicks's model of labour turnover which emphasizes the firm's management of its labour needs. This model is analysed in a time-series framework over the period 1970-1979; a decade of rapid inflation and general stagnation in the United States
Economics · Efficiency wage · Labour economics · Macroeconomics · Turnover · Unemployment · Wage · Fiscal Policy and Economic Growth · Labor market dynamics and wage inequality · Urban, Neighborhood, and Segregation Studies
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| Unique citing works | 6 |
|---|---|
| Citations per year | 0,13 |
| Citation span | 1981 - 1984 (4) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 4 |