[PDF] The Economics Of Labor Labor Market Equilibrium eBook

Author : George J. Borjas
Publisher :
Page : pages
File Size : 34,77 MB
Release : 2014
Category : Labor
ISBN :

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The branch of economics concerned with the allocation of resources in the labor market addresses some of the most difficult issues facing governments and policy-makers at the beginning of the twenty-first century. The range of dizzying questions it seeks to answer include: --what is the impact of immigration on the wage and employment opportunities of native-born workers? --are government subsidies of investments in human capital an effective way to improve the economic well-being of disadvantaged workers? --what factors determine the distribution of wages? --what is the economic impact of trade unions? --why did the labor-force participation of women rise steadily throughout the past century in many industrialized countries? In addition to its policy relevance, labor economics has played an important role in the development of modern economics as a whole. Because of the widespread availability of data on labor-market outcomes, labor economists have developed a number of econometric methods that have profoundly influenced the profession. The diffusion of these methods to other fields within economics (and to other social sciences) has radically changed how social scientists analyse and interpret data. This new title from Routledge meets the need for an authoritative reference work to make sense of the subject's vast literature and the continuing explosion in research. Edited by George J. Borjas, the pre-eminent scholar in the field, The Economics of Labor is a four-volume collection of classic and contemporary contributions. The first volume is dedicated to the basic models of labor supply and labor demand. Volume II, meanwhile, focuses on studies of labor-market equilibrium, including the theory of compensating differentials. The third and fourth volumes bring together a number of related topics, including labor-market discrimination, labor-market unions, migration, theories of incentives and compensation, and unemployment. Together, the four volumes provide a one-stop resource for all interested researchers, teachers, and students to gain a thorough understanding of the roots of labor economics and its future direction. With a comprehensive introduction, newly written by the editor, which places the collected material in its historical and intellectual context, The Economics of Labor is destined to be valued by all economists, as well as by other social scientists working in related areas, as an essential work of reference. Edited and with a new introduction by George J. Borjas, Harvard University. Publisher's note.

Author : Orley Ashenfelter
Publisher : Elsevier
Page : 1140 pages
File Size : 29,53 MB
Release : 2010-10-27
Category : Business & Economics
ISBN : 0444534539

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What factors affect the ways individuals participate in labor markets?New Developments and Research on Labor Markets (volume 4B) proposes answers to this and other questions on important topics of public policy. Leading labor economists demonstrate how better data and advanced experiments help them apply economic theory, yielding sharper analyses and conclusions. The combinations of these improved empirical findings with new models enable the authors of these chapters to reveal how labor economists are developing new and innovative ways to measure key parameters and test important hypotheses. Concentrates on empirical research in specific labor markets, including those defined by age, gender, and race Reveals how questions and answers about these markets have changed and how models measure them Documents how conceptual models and empirical work explain important practical issues

Author : Bruce E. Kaufman
Publisher : South Western Educational Publishing
Page : 840 pages
File Size : 11,24 MB
Release : 1994
Category : Business & Economics
ISBN :

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In-depth study of labour market theories

Author : Christopher A. Pissarides
Publisher : MIT Press
Page : 273 pages
File Size : 48,29 MB
Release : 2000-03-02
Category : Business & Economics
ISBN : 0262264064

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This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. An equilibrium theory of unemployment assumes that firms and workers maximize their payoffs under rational expectations and that wages are determined to exploit the private gains from trade. This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. This approach to labor market equilibrium and unemployment has been successful in explaining the determinants of the "natural" rate of unemployment and new data on job and worker flows, in modeling the labor market in equilibrium business cycle and growth models, and in analyzing welfare policy. The second edition contains two new chapters, one on endogenous job destruction and one on search on the job and job-to-job quitting. The rest of the book has been extensively rewritten and, in several cases, simplified.

Author : Tito Boeri
Publisher : Princeton University Press
Page : 704 pages
File Size : 23,55 MB
Release : 2021-01-26
Category : Business & Economics
ISBN : 0691208824

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The leading textbook on imperfect labor markets and the institutions that affect them—now completely updated and expanded Today's labor markets are witnessing seismic changes brought on by such factors as rising self-employment, temporary employment, zero-hour contracts, and the growth of the sharing economy. This fully updated and revised third edition of The Economics of Imperfect Labor Markets reflects these and other critical changes in imperfect labor markets, and it has been significantly expanded to discuss topics such as workplace safety, regulations on self-employment, and disability and absence from work. This new edition also features engaging case studies that illustrate key aspects of imperfect labor markets. Authoritative and accessible, this textbook examines the many institutions that affect the behavior of workers and employers in imperfect labor markets. These include minimum wages, employment protection legislation, unemployment benefits, family policies, equal opportunity legislation, collective bargaining, early retirement programs, and education and migration policies. Written for advanced undergraduates and beginning graduate students, the book carefully defines and measures these institutions to accurately characterize their effects, and discusses how these institutions are being transformed today. Fully updated to reflect today's changing labor markets Significantly expanded to discuss a wealth of new topics, including the impact of the COVID-19 pandemic Features quantitative examples, new case studies, data sets that enable users to replicate results in the literature, technical appendixes, and end-of-chapter exercises Unique focus on institutions in imperfect labor markets Self-contained chapters cover each of the most important labor-market institutions Instructor's manual available to professors—now with new exercises and solutions

Author : Thomas J. Kniesner
Publisher : Now Publishers Inc
Page : 83 pages
File Size : 26,7 MB
Release : 2010
Category : Business & Economics
ISBN : 1601983700

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Hedonic Wage Equilibrium examines empirically and theoretically the properties of the equilibrium wage function.

Author : Edmund S. Phelps
Publisher : Harvard University Press
Page : 444 pages
File Size : 38,35 MB
Release : 1994
Category : Business & Economics
ISBN : 9780674843738

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Dissatisfied with the explanations of the business cycle provided by the Keynesian, monetarist, New Keynesian, and real business cycle schools, Edmund Phelps has developed from various existing strands-some modern and some classical--a radically different theory to account for the long periods of unemployment that have dogged the economies of the United States and Western Europe since the early 1970s. Phelps sees secular shifts and long swings of the unemployment rate as structural in nature. That is, they are typically the result of movements in the natural rate of unemployment (to which the equilibrium path is always tending) rather than of long-persisting deviations around a natural rate itself impervious to changing structure. What has been lacking is a "structuralist" theory of how the natural rate is disturbed by real demand and supply shocks, foreign and domestic, and the adjustments they set in motion. To study the determination of the natural rate path, Phelps constructs three stylized general equilibrium models, each one built around a distinct kind of asset in which firms invest and which is important for the hiring decision. An element of these models is the modern economics of the labor market whereby firms, in seeking to dampen their employees' propensities to quit and shirk, drive wages above market-clearing levels-the phenomenon of the "incentive wage"--and so generate involuntary unemployment in labor-market equilibrium. Another element is the capital market, where interest rates are disturbed by demand and supply shocks such as shifts in profitability, thrift, productivity, and the rate of technical progress and population increase. A general-equilibrium analysis shows how various real shocks, operating through interest rates upon the demand for employees and through the propensity to quit and shirk upon the incentive wage, act upon the natural rate (and thus equilibrium path). In an econometric and historical section, the new theory of economic activity is submitted to certain empirical tests against global postwar data. In the final section the author draws from the theory some suggestions for government policy measures that would best serve to combat structural slumps.