Evidence of Efficiency Wage Payments in UK Firm Level Panel Data
构建模型分析劳动和产品市场不完美导致的垂直溢出效应，利用英国企业面板数据证明效率工资和工会活动产生的下游溢出效应，为效率工资支付提供直接证据。
We explicitly model the vertical spillovers that result from imperfections in both labour and product markets. We model the vertical spillovers from wage determination in an upstream labour market to market share performance in a downstream product market and vice versa. Rent sharing due to efficiency wages is shown to create a unique downstream vertical spillover while rent sharing due to wage bargaining creates a two-way vertical spillover. Using U.K. firm level panel data, we show that downstream spillovers due to efficiency wage payments and union activity exist, and constitute general direct evidence of efficiency wage payments in U.K. companies.