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A Theory of Wage Dispersion and Job Market Segmentation

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  • Martin L. Weitzman

Abstract

Job market segmentation refers to the idea that there tends to be a correlation among high wages, high productivity, high capital intensity, high value added, few quits relative to layoffs, and low labor turnover. This paper develops a model of wage dispersion and job market segmentation based on the very sparse assumption that the only departure from a strictly orthodox neoclassical world consists of wages being sticky in the short run. Implications of the model are explored and discussed.

Suggested Citation

  • Martin L. Weitzman, 1989. "A Theory of Wage Dispersion and Job Market Segmentation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 104(1), pages 121-137.
    • Handle: RePEc:oup:qjecon:v:104:y:1989:i:1:p:121-137.
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    Citations

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    Cited by:

    1. Kevin Lang, 2003. "The Effect of the Payroll Tax on Earnings: A Test of Competing Models of Wage Determination," NBER Working Papers 9537, National Bureau of Economic Research, Inc.
    2. Ellis Scharfenaker, Markus P.A. Schneider, 2019. "Labor Market Segmentation and the Distribution of Income: New Evidence from Internal Census Bureau Data," Working Paper Series, Department of Economics, University of Utah 2019_08, University of Utah, Department of Economics.
    3. Arai, Kazuhiro, 1997. "Cooperation, job security, and wages in a dual labor market equilibrium," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 26(1), pages 39-57.
    4. repec:zbw:ifwkwp:1309 is not listed on IDEAS
    5. Merkl, Christian & Snower, Dennis J., 2008. "Escaping the unemployment trap: The case of East Germany," Journal of Comparative Economics, Elsevier, vol. 36(4), pages 542-556, December.
    6. Martijn Cremers & Yaniv Grinstein, 2009. "The Market for CEO Talent: Implications for CEO Compensation," Yale School of Management Working Papers amz2385, Yale School of Management, revised 01 Sep 2009.
    7. Markus P. A. Schneider, 2018. "Revisiting the thermal and superthermal two-class distribution of incomes: A critical perspective," Papers 1804.06341, arXiv.org.
    8. William T. Dickens & Kevin Lang, 1992. "Labor Market Segmentation Theory: Reconsidering the Evidence," NBER Working Papers 4087, National Bureau of Economic Research, Inc.
    9. Ana Cecilia Pedraza Avella, 2011. "Segmentación laboral en Colombia durante el período 2001-2006," Revista CIFE, Universidad Santo Tomás, June.
    10. Gottfries, Nils & McCormick, Barry, 1995. "Discrimination and open unemployment in a segmented labour market," European Economic Review, Elsevier, vol. 39(1), pages 1-15, January.
    11. Joaquim Ramos Silva & Carla Regina Ferreira Freire Guimarães, 2017. "Wage differentials in Brazil: Tourism vs. other service sectors," Cogent Economics & Finance, Taylor & Francis Journals, vol. 5(1), pages 1319606-131, January.
    12. Diego Escobari & Li Gan, 2007. "Price Dispersion under Costly Capacity and Demand Uncertainty," NBER Working Papers 13075, National Bureau of Economic Research, Inc.
    13. Ellingsen, Tore & Rosen, Åsa, 1994. "Skill or Luck? Search Frictions and Wage Differentials," SSE/EFI Working Paper Series in Economics and Finance 1, Stockholm School of Economics.

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