Carl Campbell III, Professor & Chair


Carl Campbell III

Office Information

Office: ZH 513
Phone: (815) 753-6974 



Phillips Curve Appendix (pdf)

 Bargaining Model (pdf)

Phillips Curve Model (pdf)

Formation Wage Expectations Appendix (pdf) 

Utility Loss from Imperfect Information (pdf)

Efficiency Wage – Imperfect Information (pdf)

Efficiency Wages, Bargaining, and Search and Matching (pdf)

Backward Indexation Derivation (pdf) 



Professor Campbell obtained his M.A. and his Ph.D. in 1988 from Princeton University. Prior to joining NIU, he held teaching positions at Dartmouth College, University of Virginia, and Colgate University.


Dissertation title: "A Sectoral and International Compairson of Wage Rigidity"

Current Research: Unemployment and wage rigidity

Areas of Specialization: Macroeconomics, Labor Economics

Other Areas of Interest: Soccer, Hockey, Geneology

 Selected Publications:

  • "The Formation of Wage Expectations in the Effort and Quit Decisions of Workers," Economic Modelling, Vol. 42, October 2014, pp. 313-322.
  • "Deriving the Wage-Wage and Price-Price Phillips Curves from a Model with Efficiency Wages and Imperfect Information," Economics Letters,Vol. 107, May 2010, pp. 242-245.
  • "An Efficiency Wage Approach to Reconciling the Wage Curve and the Phillips Curve," Labour Economics, Vol.15, December 2008, pp. 1388-1415.
  • “A Model of the Determinants of Effort,” published in Economic Modelling (refereed), Vol. 23, March 2006, pp. 215-237.
  • "Can the Fair Wage-Effort Hypothesis Be Interpreted as a Safe Effort Hypothesis?" Economics Letters, vol. 72, August 2001, pp. 241-246 (with E. Katz).
  • "A Model of the Wage Curve." Economics Letters, Vol 59, April 1998, pp. 119-125 (with M. Orszag).
  • "The Reasons for Wage Rigidity: Evidence from a Survey of Firms." (with Kunal Kamlani), Quarterly Journal of Economics, Vol 112, August 1997, pp. 759-789.
  • "The Determinants of Dismissals, Quits, and Layoffs: A Multinomial Logit Approach." Southern Economic Journal, Vol. 63, April 1997, pp. 1066-1073.
  • "The Variation in Wage Rigidity by Occupation and Union Status."Oxford Bulletin of Economics and Statistics, Vol. 59, February 1997, pp. 133-147.
  • "The Effects of State and Industry Economic Conditions on New Firm Entry." Journal of Economics and Business, Vol. 48, May 1996, pp. 167-183.
  • "A Cross-Industry Time-Series Analysis of Quits." Quarterly Review of Economics and Finance, Vol. 35, Spring 1995, pp. 53-72.


  • "The Determinants of Dismissals: Tests of the Shirking Model with Individual Data." Economics Letters, Vol. 46, September 1994, pp. 89-95.
  • "Wage Change and the Quit Behavior of Workers: Implications for Efficiency Wage Theory." Southern Economic Journal, Vol. 61, July 1994, pp. 133-148.
  • "Do Firms Pay Efficiency Wages? Evidence with Data at the Firm Level." Journal of Labor Economics, Vol. 11, July 1993, pp. 442-470.
  • "Tests of Efficiency Wage Theory and Contract Theory with Disaggregated Data from the U.S." Weltwirtschaftliches Archiv, Vol. 127, March 1991, pp. 98-118.
  • "Sectoral Wage Rigidity in the Canadian and French Economies." European Economic Review, Vol. 33, December 1989, pp. 1727-1749.