The Efficiency Wage Research Of Domestic Market Based On The Shirking Model

Efficiency wage theory was established by the new Keynesian economists to explain the stickiness of wages and involuntary unemployment. Different from the traditional marginal productivity wage theory, it holds that wage determines labor productivity of employees:the higher of the wage level, the higher of the labor productivity. Therefore, this article starts from the perspective of efficiency wage theory and put the theory into the domestic service market to perform the related normative and empirical analysis, with the help of the survey data of the domestic service market. The author hopes to have more useful discussion about the phenomenon that the efficiency wage exists in domestic service market and gives effective policy recommendations.First, this article has sort out the develop background of the domestic service market and the literature research of the efficiency wage theory, and defined the several related concepts. Then it performs the academic analysis and summary with amounts of first-hand data from this survey and finds some important features on the aspect of information asymmetry and efficiency wage that worthy of deeper research.Second, based on the fact that the efficiency wage exists in the domestic service market, the author performs a series of empirical analysis and test from three aspects: influence factor, mechanism and actual market effect of the efficiency wage. As a result, the author make a conclusion that the efficiency wage is determined by four factors:the effort level of the workers, the difficulty to obtain a job, the human capital of the workers and the difficulty of the job itself, and that the efficiency wage will have a positive impact on the effort level of the workers, labor liquidity and labor loyalty.At last, based on the above characteristics and conclusions, this article gives several specific policy suggestions to regulate and validate the domestic service market on three dimensions, from the aspect of the validity of information matching and the efficiency wage, hoping to make contribution to the development of the domestic service market.