Check this out Nicholas Ivan Caleb- on for the efficiency wage? While Yellen and Akerlof were teaching at UC Berkeley in the 1980s, their search for a babysitter for their son, Robert, now an economist teaching in Britain, inspired a 1990 research paper about wages. The couple willingly paid a premium for babysitters, figuring it would attract superior talent. Their research found that employees tend to slack off once their pay falls below a fair wage. This trend, in turn, contributes to unemployment because many people dont want to work for pay they deem unfairly low, they found.mercurynews/business/ci_25367972/marriage-equals-janet-yellens-husband-also-renowned-economist?utm_content=buffer52316&utm_medium=social&utm_source=twitter&utm_campaign=buffer
Posted on: Sat, 22 Mar 2014 10:59:41 +0000
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