Modern Labor Economics
Kaup valmöguleikar
Modern Labor Economics: Theory and Public Policy kemur nú út í fimmtándu útgáfu og er áfram leiðandi kennslubók í einnar annar námskeiðum í vinnumarkaðshagfræði, bæði í grunn- og framhaldsnámi. Hún veitir ítarlegt yfirlit yfir nútímakenningar um hegðun á vinnumarkaði og sýnir hvernig þeim er beitt til að greina opinbera stefnu. Bókin er ætluð nemendum sem hafa ekki endilega mikinn hagfræðigrunn og heldur jafnvægi milli kenninga og dæma um hagnýta stefnumótun svo nemendur sjái hugtökin að verki.
Höfundarnir telja að nemendur læri betur þegar þeir sjá samfélagslega þýðingu þess sem fjallað er um, og því er fjöldi dæma um stefnuákvarðanir sem hafa haft áhrif á síbreytilegan vinnumarkað og orðið fyrir áhrifum af honum. Bókin heldur áfram að bjóða upp á jafnvægi viðeigandi samtímadæma, umfjöllun um efnahagsástandið eins og það er, kynningu á helstu aðferðafræðilegum leiðum og álitamálum, og verkfæri til upprifjunar og frekara náms.
Í fimmtándu útgáfu eru gögn og dæmi uppfærð í gegn og aukin umfjöllun um vinnumarkaði þar sem einn kaupandi ræður, þar á meðal samkeppnisreglur og úrskurði, um hagfræði menntunar, launamun kynjanna, nýja þróun í starfi stéttarfélaga og atvinnuleysi, auk nýs efnis um fjarvinnu og gervigreind.
Modern Labor Economics: Theory and Public Policy, now in its fifteenth edition, continues to be the leading text for one-semester courses in labor economics at the undergraduate and graduate levels. It offers a thorough overview of the modern theory of labor market behavior and reveals how this theory is used to analyze public policy. Designed for students who may not have extensive backgrounds in economics, the text balances theoretical coverage with examples of practical policy applications that allow students to see concepts in action.
The authors believe that showing students the social implications of the concepts discussed in the course will enhance their motivation to learn. Consequently, this text presents numerous examples of policy decisions that have affected, and been affected by, the ever-shifting labor market. This new edition continues to offer the following: a balance of relevant, contemporary examples coverage of the current economic climate an introduction to basic methodological techniques and problems tools for review and further study This fifteenth edition presents updated data and examples throughout and offers greater coverage of monopsonistic labor markets (including anti-trust regulations and rulings), the economics of education, the gender pay gap, recent developments in unions, and unemployment, plus new material on the work-from-home trend and AI.
Nánar um bókina
- Taylor & Francis
- 9781040342022
- 9781032825953
- ePub
- 15
- Ronald G. Ehrenberg; Robert S. Smith; Kevin F. Hallock
- English
- 2025-05-20
- 100
- 2
- 2
Kaflar
- Cover Page
- Half Title page
- Title Page
- Copyright Page
- Contents
- Reference Tables
- Preface
- Chapter 1 Introduction
- The Labor Market
- Labor Economics: Some Basic Concepts
- Positive Economics
- The Models and Predictions of Positive Economics
- Normative Economics
- Normative Economics and Government Policy
- Efficiency Versus Equity
- Plan of the Text
- Review Questions
- Problems
- Notes
- Selected Readings
- Appendix 1A Statistical Testing of Labor Market Hypotheses
- A Univariate Test
- Multiple Regression Analysis
- The Problem of Omitted Variables
- Notes
- Chapter 2 Overview of the Labor Market
- The Labor Market: Definitions, Facts, and Trends
- The Labor Force and Unemployment
- Industries and Occupations: Adapting to Change
- The Earnings of Labor
- How the Labor Market Works
- The Demand for Labor
- The Supply of Labor
- The Determination of the Wage
- Review Questions
- Problems
- Notes
- Selected Readings
- Chapter 3 The Demand for Labor
- Profit Maximization
- Marginal Income from an Additional Unit of Input
- Marginal Expense of an Added Input
- The Short-Run Demand for Labor When Both Product and Labor Markets Are Competitive
- A Critical Assumption: Declining MPL
- From Profit Maximization to Labor Demand
- The Demand for Labor in Competitive Markets When Other Inputs Vary
- Labor Demand in the Long Run
- More Than Two Inputs
- Labor Demand When the Product Market Is Not Competitive
- Maximizing Monopoly Profits
- Do Monopolies Pay Higher Wages?
- Policy Application: The Labor Market Effects of Employer Payroll Taxes and Wage Subsidies
- Who Bears the Burden of a Payroll Tax?
- Employment Subsidies as a Device to Help Unemployed People
- Review Questions
- Problems
- Notes
- Selected Readings
- Appendix 3A Graphical Derivation of a Firm's Labor Demand Curve
- The Production Function
- Demand for Labor in the Short Run
- Demand for Labor in the Long Run
- Conditions for Cost Minimization
- The Substitution Effect
- The Scale Effect
- Notes
- Chapter 4 Labor Demand Elasticities
- The Own-Wage Elasticity of Demand
- The Hicks–Marshall Laws of Derived Demand
- Estimates of Own-Wage Labor Demand Elasticities
- Applying the Laws of Derived Demand: Inferential Analysis
- The Cross-Wage Elasticity of Demand
- Can the Laws of Derived Demand Be Applied to Cross-Elasticities?
- Estimates Relating to Cross-Elasticities
- Applying Concepts of Labor Demand Elasticity to the Issue of Technological Change
- Product Demand Shifts
- Substitutes or Complements in Production?
- Gross Substitutes or Gross Complements?
- Overall Effects of Technological Change
- Policy Application: Employment Effects of Minimum-Wage Laws
- Non-Employment Responses of Employers
- Better Modeling of the Labor Market
- Review Questions
- Problems
- Notes
- Selected Readings
- Chapter 5 Frictions in the Labor Market
- Frictions on the Employee Side of the Market
- The Law of One Price
- Profit Maximization Under Monopsonistic Conditions
- How Do Monopsonistic Firms Respond to Shifts in the Supply Curve?
- Monopsonistic Conditions and the Employment Response to Minimum-Wage Legislation
- Monopsonistic Conditions and the Relevance of the Competitive Model
- Frictions on the Employer Side of the Market
- Categories of Quasi-Fixed Costs
- The Employment/Hours Trade-Off
- Training Investments
- The Training Decision of Employers
- The Types of Training
- Training and Post-Training Wage Increases
- Employer Training Investments and Recessionary Layoffs
- Hiring Investments
- The Use of Credentials
- Internal Labor Markets
- How Can the Employer Recoup Its Hiring Investments?
- Review Questions
- Problems
- Notes
- Selected Reading
- Chapter 6 Supply of Labor to the Economy: The Decision to Work
- Trends in Labor Force Participation and Hours of Work
- Labor Force Participation Rates
- Hours of Work
- A Theory of the Decision to Work
- Some Basic Concepts
- Analysis of the Labor/Leisure Choice
- Policy Applications
- Budget Constraints With “Spikes”
- Programs with Net Wage Rates of Zero
- Subsidy Programs with Positive Net Wage Rates
- Review Questions
- Problems
- Notes
- Selected Readings
- Chapter 7 Labor Supply: Household Production, the Family, and the Life Cycle
- A Labor Supply Model That Incorporates Household Production
- The Basic Model for an Individual: Similarities With the Labor-Leisure Model
- The Basic Model for an Individual: Some New Implications
- Joint Labor Supply Decisions in the Household
- Specialization of Function
- The Joint Decision and Interdependent Productivity at Home
- Labor Supply in Recessions: The “Discouraged” Versus the “Added” Worker
- Life Cycle Aspects of Labor Supply
- The Substitution Effect and When to Work Over a Lifetime
- The Choice of Retirement Age
- Policy Application: Childcare and Labor Supply
- Childcare Subsidies
- Child Support Assurance
- Review Questions
- Problems
- Notes
- Selected Readings
- Chapter 8 Compensating Wage Differentials and Labor Markets
- Job Matching: The Role of Worker Preferences and Information
- Individual Choice and Its Outcomes
- Assumptions and Predictions
- Empirical Tests for Compensating Wage Differentials
- Hedonic Wage Theory and the Risk of Injury
- Employee Considerations
- Employer Considerations
- The Matching of Employers and Employees
- Normative Analysis: Occupational Safety and Health Regulation
- Hedonic Wage Theory and Employee Benefits
- Employee Preferences
- Employer Preferences
- The Joint Determination of Wages and Benefits
- Policy Example: Employer-Provided Healthcare Benefits
- Review Questions
- Problems
- Notes
- Selected Readings
- Appendix 8A Compensating Wage Differentials and Layoffs
- Unconstrained Choice of Work Hours
- Constrained Hours of Work
- The Effects of Uncertain Layoffs
- The Observed Wage–Layoff Relationship
- Notes
- Chapter 9 Investments in Human Capital: Education and Training
- Human-Capital Investments: The Basic Model
- The Concept of Present Value
- Modeling the Human-Capital Investment Decision
- The Demand for a College Education
- Weighing the Costs and Benefits of College
- Predictions of the Theory
- Market Responses to Changes in College Attendance
- Education, Earnings, and Post-Schooling Investments in Human Capital
- Average Earnings and Educational Level
- On-the-Job Training and the Concavity of Age–Earnings Profiles
- The Fanning Out of Age–Earnings Profiles
- Women and the Acquisition of Human Capital
- Is Education a Good Investment?
- Is Education a Good Investment for Individuals?
- Is Education a Good Social Investment?
- Is Public Sector Training a Good Social Investment?
- Review Questions
- Problems
- Notes
- Selected Readings
- Appendix 9A A “Cobweb” Model of Labor Market Adjustment
- An Example of “Cobweb” Adjustments
- Adaptive Expectations
- Rational Expectations
- Notes
- Chapter 10 Worker Mobility: Migration, Immigration, and Turnover
- The Determinants of Worker Mobility
- Geographic Mobility
- The Direction of Migratory Flows
- Personal Characteristics of Migrants
- The Role of Distance
- The Earnings Distribution in Sending Countries and International Migration
- The Returns to International and Domestic Migration
- Policy Application: Restricting Immigration
- U.S. Immigration History
- Restrictions
- Naive Views of Immigration
- An Analysis of the Gainers and Losers
- Do the Overall Gains from Immigration Exceed the Losses?
- Employee Turnover
- Age Effects
- Wage Effects
- Effects of Employer Size
- Cyclical Effects
- Is More Mobility Better?
- Review Questions
- Problems
- Notes
- Selected Readings
- Chapter 11 Pay and Productivity: Wage Determination Within the Firm
- Motivating Workers: An Overview of the Fundamentals
- The Employment Contract
- Coping with Information Asymmetries
- Compensation Plans: Overview and Guide to the Rest of the Chapter
- Productivity and the Basis of Yearly Pay
- Employer Considerations: Individually Based Output Pay
- Employer Considerations: Group-Based Output Pay
- Employee Considerations: Output-Based Pay
- Employee Considerations: Which Workers Prefer Output-Based Pay?
- Motivating Productivity Under Time-Based Pay
- Comparing Output-Based and Time-Based Pay
- Productivity and the Level of Pay
- Why Higher Pay Might Increase Worker Productivity
- Efficiency Wages
- Productivity and the Sequencing of Pay
- Underpayment Followed by Overpayment
- Promotion Tournaments
- Career Concerns and Productivity
- Review Questions
- Problems
- Notes
- Selected Readings
- Chapter 12 Gender, Race, and Ethnicity in the Labor Market
- Measured and Unmeasured Sources of Earnings Differences
- Earnings Differences by Gender
- Earnings Differences Between Black Americans and White Americans
- Earnings Differences by Ethnicity
- Theories of Market Discrimination
- Personal-Prejudice Models: Employer Discrimination
- Personal-Prejudice Models: Customer Discrimination
- Personal-Prejudice Models: Employee Discrimination
- Statistical Discrimination
- Noncompetitive Models of Discrimination
- Crowding
- Dual Labor Markets
- Search-Related Monopsony
- A Final Word on the Theories of Discrimination
- Federal Programs to End Discrimination
- Equal Pay Act of 1963
- Title VII of the Civil Rights Act
- The Federal Contract Compliance Program
- Effectiveness of Federal Antidiscrimination Programs
- Review Questions
- Problems
- Notes
- Selected Readings
- Appendix 12A Estimating Comparable-Worth Earnings Gaps: An Application of Regression Analysis
- Notes
- Chapter 13 Unions and the Labor Market
- Union Structure and Membership
- International Comparisons of Unionism
- The Legal Structure of Unions in the United States
- Constraints on the Achievement of Union Objectives
- The Monopoly-Union Model
- The Efficient-Contracts Model
- The Activities and Tools of Collective Bargaining
- Union Membership: An Analysis of Demand and Supply
- Union Actions to Alter the Labor Demand Curve
- Bargaining and the Threat of Strikes
- Bargaining in the Public Sector: The Threat of Arbitration
- The Effects of Unions
- The Theory of Union Wage Effects
- Evidence of Union Wage Effects
- Evidence of Union Total Compensation Effects
- The Effects of Unions on Employment
- The Effects of Unions on Productivity and Profits
- Normative Analyses of Unions
- Review Questions
- Problems
- Notes
- Selected Readings
- Appendix 13A Arbitration and the Bargaining Contract Zone
- Notes
- Chapter 14 Unemployment
- A Stock-Flow Model of the Labor Market
- Duration of Unemployment
- Paths to Unemployment
- Rates of Flow Affect Unemployment Levels
- Frictional Unemployment
- The Theory of Job Search
- Effects of Unemployment Insurance Benefits
- Structural Unemployment
- Occupational and Regional Unemployment Rate Differences
- International Differences in Long-Term Unemployment
- Whether Efficiency Wages Cause Structural Unemployment
- Demand-Deficient (Cyclical) Unemployment
- Downward Wage Rigidity
- Financing U.S. Unemployment Compensation
- Seasonal Unemployment
- When Do We Have Full Employment?
- Defining the Natural Rate of Unemployment
- Unemployment and Demographic Characteristics
- What Is the Natural Rate?
- Review Questions
- Problems
- Notes
- Selected Readings
- Chapter 15 Inequality in Earnings
- Measuring Inequality
- Earnings Inequality Since 2000: Some Descriptive Data
- The Increased Returns of Higher Education
- Growth of Earnings Dispersion Within Human-Capital Groups
- The Underlying Causes of Growing Inequality
- Changes in Supply
- Changes in Demand: Technological Change
- Changes in Institutional Forces
- Is Inequality Inherited?
- Review Questions
- Problems
- Notes
- Selected Readings
- Appendix 15A Lorenz Curves and Gini Coefficients
- Notes
- Chapter 16 The Labor Market Effects of International Trade and Production Sharing
- Why Does Trade Take Place?
- Trade Between Individuals and the Principle of Comparative Advantage
- The Incentives for Trade Across Different Countries
- Effects of Trade on the Demand for Labor
- Product Demand Shifts
- Shifts in the Supply of Alternative Factors of Production
- The Net Effect on Labor Demand
- Will Wages Converge Across Countries?
- Policy Issues
- Subsidizing Human-Capital Investments
- Income Support Programs
- Subsidized Employment
- How Narrowly Should We Target Compensation?
- Summary
- Review Questions
- Problems
- Notes
- Selected Readings
- Answers to Odd-Numbered Review Questions and Problems
- Chapter 1
- Review Questions
- Problems
- Chapter 2
- Review Questions
- Problems
- Chapter 3
- Review Questions
- Problems
- Chapter 4
- Review Questions
- Problems
- Chapter 5
- Review Questions
- Problems
- Chapter 6
- Review Questions
- Problems
- Chapter 7
- Review Questions
- Problems
- Chapter 8
- Review Questions
- Problems
- Chapter 9
- Review Questions
- Problems
- Chapter 10
- Review Questions
- Problems
- Chapter 11
- Review Questions
- Problems
- Chapter 12
- Review Questions
- Problems
- Chapter 13
- Review Questions
- Problems
- Chapter 14
- Review Questions
- Problems
- Chapter 15
- Review Questions
- Problems
- Chapter 16
- Review Questions
- Problems
- Author Index
- Subject Index