← Search

Wage and Employment Structure in an Economy with Internal Labor Markets

Andrew J. Oswald^1,2

¹ Princeton University · ² University of Oxford

The paper discusses the economics of promotion and, in particular, studies wage and employment structure in an economy with internal labor markets. It is shown—under a wide range of assumptions—that firms will set a nondecreasing wage profile that, for reasons apparently not suggested before, both junior and senior workers may be paid more or less than their marginal product, and that firms will offer a flat wage schedule if labor hours are supplied perfectly inelastically.

DOI

10.2307/1883121

Volume

99 (4)

Pages

693

Export

BibTeX

Sources

openalex crossref