From the theory of efficiency-wage appears, the theory is looked as the one of the most developed perspective fields in modern macroeconomics.

效率工资理论自产生以来，就受到广泛的关注，被看作是当代宏观经济学最有发展前景的领域之一。

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The theory of "efficiency wages" says that firms which cannot monitor workers' efforts well should instead pay high wages to make it costlier for them to risk being sacked.

有效工资原理说的是对于无法监控员工是否工作努力的公司应该给予员工比较高的工资从而使其有较高的离职成本。

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In theory, such specialisation should increase the efficiency of the venture-capital process, as it does in other industries.

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In theory, the PPP was meant to harness the efficiency of the private sector and, in return for healthy profits, transfer risks to the firms doing the work.

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Mr Llewellyn also questions the theory that building-society conversions will herald a wave of takeovers, leading to efficiency gains as overcapacity is cut.

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