WAGE DIFFERENTIALS AND EFFICIENCY WAGE MODELS: EVIDENCE FROM THE CHILEAN ECONOMY Pilar Romaguera Working Paper #153 - March 1991 Pilar Romaguera is a graduate of the Universidad de Chile and of Boston University and currently a researcher at CIEPLAN (Corporación de Investigaciones Económicas para América Latina) in Santiago de Chile. In spring 1989 she was a residential fellow at the Kellogg Institute. To a large extent this paper summarizes and reviews parts of her thesis. It was written during her stay at the Kellogg Institute and she would like to gratefully acknowledge the hospitality of the institution.