Preface |
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xv | |
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Chapter 1 The Study of Labor Economics |
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1 | (17) |
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The Study and Scope of Labor Economics |
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1 | (1) |
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The Method of Labor Economics |
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2 | (5) |
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2 | (2) |
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Labor Market Institutions |
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4 | (1) |
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5 | (1) |
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6 | (1) |
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International Comparisons |
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7 | (1) |
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7 | (2) |
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9 | (1) |
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10 | (1) |
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10 | (1) |
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Appendix: Regression Analysis |
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11 | (7) |
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Chapter 2 The Demand for Labor |
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18 | (26) |
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The Way We Work: Labor Demand |
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19 | (1) |
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19 | (4) |
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The Marginal Product of Labor |
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23 | (1) |
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The Short-Run Demand for Labor |
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23 | (9) |
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The Short-Run Demand for Labor: An Example |
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23 | (5) |
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Conditions for the MP to Represent Labor Demand |
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28 | (1) |
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The Demand for Labor in Noncompetitive Product Markets |
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29 | (2) |
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What Determines the Position of the Short-Run Demand for Labor? |
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31 | (1) |
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32 | (1) |
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The Demand for Labor in the Long Run |
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32 | (5) |
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37 | (1) |
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38 | (1) |
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38 | (3) |
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Appendix: Technological Change and Labor Demand |
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41 | (3) |
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Chapter 3 Topics in Labor Demand |
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44 | (20) |
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44 | (3) |
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The Wage Elasticity of Labor Demand |
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44 | (1) |
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The Cross-Elasticity of Labor Demand |
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45 | (2) |
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The Way We Work: The Changing Occupational Mix |
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47 | (1) |
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The Elasticity of Substitution |
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48 | (1) |
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How Elastic Is the Demand for Labor? |
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48 | (1) |
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The Way We Work: The Case of the Vanishing (?) Bank Teller |
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49 | (2) |
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The Way We Work: Do Machines Always Destroy Jobs? |
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51 | (1) |
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Extensions and Embellishments of Marginal Productivity Theory |
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52 | (7) |
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The Independence of Wages and Productivity |
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52 | (2) |
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Fixed Costs of Employment |
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54 | (5) |
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Are Workers Paid Their Marginal Product? |
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59 | (1) |
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60 | (1) |
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60 | (1) |
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60 | (2) |
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Appendix: A Test of the Marginal Productivity Theory: A Cobb-Douglas Exercise |
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62 | (2) |
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Chapter 4 The Supply of Labor: Labor Force Participation |
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64 | (23) |
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Labor Force Participation |
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65 | (4) |
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The Theory of Labor Force Participation for an Individual |
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69 | (4) |
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The Theory of Labor Force Participation for Croups |
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73 | (2) |
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Applications of the Theory |
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75 | (9) |
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76 | (2) |
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78 | (3) |
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81 | (2) |
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83 | (1) |
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84 | (1) |
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85 | (1) |
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85 | (2) |
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Chapter 5 The Supply of Labor: Hours of Work |
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87 | (25) |
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The History of Working Hours |
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87 | (1) |
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The Way We Work: The Good Old Days? |
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88 | (3) |
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Worker Preferences and Hours Worked |
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91 | (1) |
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The Theory of Hours of Work for an Individual |
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92 | (5) |
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Applications of the Theory |
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97 | (2) |
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Variations on the Wage Line |
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99 | (2) |
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The Way We Work: The Great Hours Debate |
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101 | (1) |
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Welfare Programs and Labor Supply |
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101 | (2) |
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Some Extensions of the Individual Model |
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103 | (5) |
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103 | (2) |
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105 | (3) |
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Empirical Evidence on Labor Supply Elasticities |
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108 | (2) |
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110 | (1) |
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111 | (1) |
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111 | (1) |
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Chapter 6 Human Capital Analysis |
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112 | (42) |
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112 | (3) |
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Education and Age--Earnings Profiles |
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115 | (3) |
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Around The World: Technology and the Future of Work |
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118 | (3) |
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Putting Theory To Work: The Age-Earnings Curve Again |
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121 | (1) |
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Calculating the Returns to Education |
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121 | (5) |
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The Net Present Value Approach |
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122 | (2) |
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The Internal Rate of Return Approach |
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124 | (1) |
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The Earnings Function Approach |
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124 | (2) |
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The Way We Work: What Good Does a Degree Do? |
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126 | (1) |
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127 | (14) |
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Bias in Rate-of-Return Estimates |
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132 | (9) |
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General versus Specific Human Capital |
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141 | (2) |
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Putting Theory To Work: Forensic Economists and Valuing a Life |
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143 | (1) |
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Externalities, Equity, and Subsidies |
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144 | (1) |
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Human Capital and Mobility |
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145 | (6) |
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151 | (1) |
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152 | (1) |
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152 | (2) |
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Chapter 7 Labor Market Equilibrium |
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154 | (31) |
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Equilibrium in a Single Labor Market |
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154 | (1) |
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155 | (4) |
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159 | (3) |
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162 | (1) |
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Equilibrium across Different Labor Markets |
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163 | (1) |
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164 | (1) |
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165 | (1) |
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Compensating Differentials |
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166 | (1) |
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Empirical Studies of Wage Differentials |
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167 | (1) |
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Interregional Migration and Wage Convergence |
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267 | (1) |
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The Way We Work: Family-Friendly Policies |
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168 | (4) |
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Compensating Differentials for Job Safety |
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172 | (2) |
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Putting Theory To Work: Rising Labor Costs in China |
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174 | (1) |
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International Trade and Relative Wages |
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175 | (1) |
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The Relative Supply-Demand Model |
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176 | (1) |
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Theories of Trade and Wages |
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177 | (1) |
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Evidence on Trade and Wages |
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178 | (2) |
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Putting Theory To Work: US Immigration Policy |
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180 | (2) |
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182 | (1) |
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181 | (1) |
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182 | (3) |
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Chapter 8 Information and Job Search |
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185 | (1) |
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The Fixed Sample Search Model |
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186 | (3) |
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The Sequential Search Model |
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189 | (1) |
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189 | (3) |
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192 | (1) |
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Putting Theory To Work: Search in the Laboratory |
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193 | (4) |
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194 | (1) |
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Relaxing the Assumption of No On-the-job Search |
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195 | (1) |
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196 | (1) |
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196 | (1) |
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197 | (3) |
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Equilibrium Search Models |
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200 | (2) |
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The Duration of Unemployment and the Hazard Function |
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202 | (1) |
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Around The World: The Reservation Wage of Polish Job Seekers |
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202 | (2) |
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204 | (1) |
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Job Search Methods and Results |
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205 | (3) |
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The Way We Work: Unemployment Benefits and Wage Offers |
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208 | (1) |
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209 | (1) |
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210 | (1) |
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210 | (1) |
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Chapter 9 Monopsony and Minimum Wages |
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211 | (1) |
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Wage and Employment Determination under Conditions of Monopsony |
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212 | (4) |
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Where Does Monopsony Exist? |
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216 | (2) |
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216 | (3) |
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Government as a Monopsonistic Employer |
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219 | (3) |
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The Market for Professional Athletes |
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222 | (4) |
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226 | (2) |
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Putting Theory To Work: The Wage Penalty |
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228 | (1) |
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Putting Theory To Work: Is Bigger Better? |
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228 | (1) |
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229 | (3) |
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Empirical Evidence on the Employment Effect of Minimum Wages |
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232 | (6) |
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The Card-Krueger "Natural Experiment" Study |
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232 | (3) |
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Other Minimum Wage--Employment Studies |
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235 | (1) |
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236 | (2) |
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Other Effects of the Minimum Wage |
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238 | (1) |
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Putting Theory To Work: A Living Wage? |
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238 | (2) |
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240 | (2) |
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242 | (1) |
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242 | (1) |
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Chapter 10 Internal Labor Markets |
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243 | (31) |
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The Characteristics of ILMs |
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245 | (3) |
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The Importance of Long-Term Employment Relations |
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245 | (3) |
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The Way We Work: Number of Jobs and Job Tenure during a Worker's Life |
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248 | (4) |
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Job Hierarchy and Internal Wage Structures |
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248 | (3) |
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Types of ILMs in the US Economy |
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251 | (1) |
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252 | (7) |
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The US Labor Market a Century Ago |
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253 | (1) |
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The Emergence of ILMs in the United States |
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253 | (2) |
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Lifetime Employment in Japan |
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255 | (1) |
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255 | (2) |
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Are ILMs Becoming Less Important? |
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257 | (2) |
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Putting Theory To Work: Managing Your Internal Labor Markets for Lasting Competitive Advantage |
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259 | (2) |
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High-Performance Work Systems |
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260 | (1) |
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261 | (2) |
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261 | (1) |
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Efficiency Aspects of ILMs |
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262 | (1) |
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Around The World: Is the Gig Economy the Future of Work? |
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263 | (4) |
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ILMs and Firm Performance |
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264 | (1) |
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The Case of Academic Tenure |
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265 | (2) |
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Implications of ILMs for Labor Analysis |
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267 | (4) |
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267 | (1) |
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267 | (1) |
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268 | (1) |
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Labor Market Segmentation |
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268 | (3) |
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271 | (1) |
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272 | (1) |
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272 | (2) |
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Chapter 11 Personnel Economics |
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274 | (27) |
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274 | (7) |
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Wages and the Supply of Effort |
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276 | (1) |
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Effort and Output in a Fixed Wage System |
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277 | (2) |
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279 | (2) |
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Putting Theory To Work: Do Pay Incentives Increase Effort and Productivity? |
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281 | (3) |
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Difficulties with Implementing Performance Pay |
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282 | (2) |
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The Way We Work: Wells Fargo and the "Dark Side" of Incentive Pay |
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284 | (1) |
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Work-Life Incentive Schemes |
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285 | (5) |
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285 | (2) |
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287 | (1) |
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288 | (1) |
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Tournaments and Promotions |
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289 | (1) |
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Around The World: The Reward Structure of UK Firms |
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290 | (2) |
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Putting Theory To Work: Incentives for Poor Performance in Sports |
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292 | (4) |
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295 | (1) |
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296 | (2) |
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298 | (1) |
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299 | (1) |
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299 | (2) |
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Chapter 12 Unions and Collective Bargaining |
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301 | (54) |
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A Profile of Unionism in the United States |
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301 | (6) |
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Legislation and Labor Union Growth |
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303 | (3) |
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Unions in the Public Sector |
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306 | (1) |
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The Way We Work: Name That Union! |
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307 | (1) |
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Unionism in Other Countries |
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308 | (3) |
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311 | (3) |
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Union Goals and Objectives |
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314 | (1) |
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315 | (15) |
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316 | (2) |
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Maximization of the Wage Bill |
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318 | (1) |
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319 | (2) |
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The Utility-Maximization Model |
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321 | (2) |
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Employer Wage--Employment Preferences |
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323 | (3) |
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326 | (4) |
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Union Bargaining Power and Strikes |
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330 | (1) |
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330 | (1) |
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The Way We Work: Boycott! |
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331 | (4) |
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Models of Strike Activity |
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332 | (3) |
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335 | (14) |
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Measuring Union Wage Effects: The Problems |
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336 | (2) |
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Measuring Union Wage Effects: The Methods |
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338 | (2) |
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The Effects of Unions on Wages |
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340 | (4) |
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The Effects of Unions on Other Economic Variables |
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344 | (5) |
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349 | (1) |
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350 | (1) |
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350 | (2) |
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Appendix: Occupational Licensing |
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352 | (3) |
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Chapter 13 Labor Market Discrimination |
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355 | (53) |
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The Many Faces of Labor Market Discrimination |
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355 | (2) |
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Gender and Racial Differences in Labor Markets |
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357 | (1) |
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357 | (1) |
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The Way We Work: Women on Boards |
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358 | (7) |
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The Way We Work: Women's Pay and Family Responsibilities |
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365 | (1) |
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Racial and Ethnic Differences |
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366 | (1) |
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Theories of Labor Market Discrimination |
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366 | (9) |
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Personal Prejudice Theory |
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368 | (4) |
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Statistical Discrimination |
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372 | (1) |
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Other Models of Discrimination |
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373 | (2) |
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The Way We Work: Societal Prejudice at Work? |
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375 | (4) |
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Measuring the Effect of Discrimination on Pay Gaps |
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379 | (5) |
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379 | (1) |
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The Earnings Function Approach |
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380 | (4) |
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Discrimination and the Distribution of Earnings |
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384 | (1) |
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The Way We Work: Religious Discrimination and the Irish Troubles |
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384 | (1) |
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What Does the Research Show? |
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385 | (11) |
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385 | (7) |
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Evidence from Audit Studies |
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392 | (1) |
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392 | (4) |
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Antidiscrimination Policies |
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396 | (6) |
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396 | (1) |
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396 | (1) |
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Discrimination on the Basis of Age and Disability |
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397 | (1) |
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397 | (2) |
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399 | (3) |
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The Effects of Antidiscrimination Policies |
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402 | (2) |
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404 | (1) |
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405 | (1) |
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405 | (3) |
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408 | (41) |
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409 | (13) |
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409 | (3) |
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Around The World: Emerging Markets in the Great Recession and Beyond |
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412 | (1) |
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413 | (1) |
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414 | (1) |
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The Duration of Unemployment |
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414 | (2) |
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The Natural Rate of Unemployment |
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416 | (6) |
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Estimating the Natural Rate |
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416 | (3) |
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Determinants of the Natural Rate |
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419 | (3) |
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Changes in the Natural Rate |
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422 | (1) |
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Fluctuations around the Natural Rate |
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422 | (11) |
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The Real Business Cycle Model |
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423 | (2) |
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425 | (7) |
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Evidence on Wage Rigidity |
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432 | (1) |
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Putting Theory To Work: Excess Supply and Salary Offers for Phd Economists |
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433 | (3) |
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A Model of the Aggregate Labor Market |
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436 | (5) |
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Unemployment in the Great Recession |
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441 | (3) |
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The Way We Work: Mental Health Consequences of Unemployment |
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444 | (2) |
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446 | (1) |
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447 | (1) |
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447 | (2) |
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Chapter 15 Wage Inequality, Income Inequality, and Poverty |
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449 | (39) |
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Wage Inequality and Labor Market Performance |
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450 | (1) |
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451 | (6) |
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Percentile Wage Differentials |
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453 | (2) |
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455 | (2) |
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The Variance of the Logarithm of Earnings |
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457 | (1) |
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Trends in Wage Inequality |
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457 | (6) |
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International Comparisons |
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457 | (3) |
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Other Aspects of Rising Wage Inequality |
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460 | (3) |
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Causes of Increased Wage Inequality |
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463 | (9) |
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A Relative Supply and Demand Model |
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464 | (2) |
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Causes of Shifts in Demand for Skilled Workers |
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466 | (3) |
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Changes in Labor Market Institutions |
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469 | (3) |
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The Effect of Unemployment Rates |
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472 | (1) |
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From Wage Inequality to Income Inequality |
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472 | (2) |
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473 | (1) |
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Around The World: Intergenerational Income Mobility |
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474 | (3) |
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Measuring Inequality in Living Standards |
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474 | (1) |
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475 | (1) |
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Trends in Income Inequality |
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475 | (2) |
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The Way We Work: Income Inequality and Marketing Strategy |
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477 | (1) |
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Around The World: Global Income Inequality |
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478 | (1) |
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479 | (4) |
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The Measurement of Poverty in the United States |
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479 | (2) |
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Poverty in Other Countries |
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481 | (2) |
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483 | (2) |
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483 | (1) |
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Increasing the Relative Supply of Skilled Workers |
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484 | (1) |
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Shifting Demand Toward Low-Skill Workers |
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484 | (1) |
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Increasing Labor Market Access |
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484 | (1) |
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Maintaining the Real Minimum Wage |
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485 | (1) |
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485 | (1) |
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486 | (1) |
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486 | (2) |
Index |
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488 | |