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Fundamentals of Labor Economics 3rd edition [Kietas viršelis]

(Lehigh University), (Lehigh University), (Lancaster University Management School)
  • Formatas: Hardback, 528 pages, aukštis x plotis x storis: 25x193x236 mm, weight: 952 g
  • Išleidimo metai: 01-Jan-2020
  • Leidėjas: South-Western College Publishing
  • ISBN-10: 0357442121
  • ISBN-13: 9780357442128
Kitos knygos pagal šią temą:
  • Formatas: Hardback, 528 pages, aukštis x plotis x storis: 25x193x236 mm, weight: 952 g
  • Išleidimo metai: 01-Jan-2020
  • Leidėjas: South-Western College Publishing
  • ISBN-10: 0357442121
  • ISBN-13: 9780357442128
Kitos knygos pagal šią temą:
Examine the essential aspects of modern labor economics from an international perspective with Hyclak/Johnes/Thornton's highly accessible FUNDAMENTALS OF LABOR ECONOMICS, 3E. This convenient, digital edition provides a comprehensive survey of economic theory and empirical evidence on purely competitive labor markets. These acclaimed authors examine the impact of imperfect competition, incomplete information and uncertainty, and institutional factors -- stemming from government regulation, unions, social norms, and human resource management policies -- on wages and employment opportunities. The latest updates address important issues today, such as wage and income inequality, labor market effects of international migration, the impact of occupational licensing on wages and employment, and labor aspects of the current "gig" economy. First-hand labor economics research and results further enhance your understanding of the world in which you will work and manage employees.
Preface xv
Chapter 1 The Study of Labor Economics
1(17)
The Study and Scope of Labor Economics
1(1)
The Method of Labor Economics
2(5)
Labor Market Theory
2(2)
Labor Market Institutions
4(1)
Empirical Analysis
5(1)
Policy Analysis
6(1)
International Comparisons
7(1)
The Plan of This Book
7(2)
Summary
9(1)
Key Terms
10(1)
Problems
10(1)
Appendix: Regression Analysis
11(7)
Chapter 2 The Demand for Labor
18(26)
The Way We Work: Labor Demand
19(1)
The Production Function
19(4)
The Marginal Product of Labor
23(1)
The Short-Run Demand for Labor
23(9)
The Short-Run Demand for Labor: An Example
23(5)
Conditions for the MP to Represent Labor Demand
28(1)
The Demand for Labor in Noncompetitive Product Markets
29(2)
What Determines the Position of the Short-Run Demand for Labor?
31(1)
A Note on Exploitation
32(1)
The Demand for Labor in the Long Run
32(5)
Summary
37(1)
Key Terms
38(1)
Problems
38(3)
Appendix: Technological Change and Labor Demand
41(3)
Chapter 3 Topics in Labor Demand
44(20)
Elasticities
44(3)
The Wage Elasticity of Labor Demand
44(1)
The Cross-Elasticity of Labor Demand
45(2)
The Way We Work: The Changing Occupational Mix
47(1)
The Elasticity of Substitution
48(1)
How Elastic Is the Demand for Labor?
48(1)
The Way We Work: The Case of the Vanishing (?) Bank Teller
49(2)
The Way We Work: Do Machines Always Destroy Jobs?
51(1)
Extensions and Embellishments of Marginal Productivity Theory
52(7)
The Independence of Wages and Productivity
52(2)
Fixed Costs of Employment
54(5)
Are Workers Paid Their Marginal Product?
59(1)
Summary
60(1)
Key Terms
60(1)
Problems
60(2)
Appendix: A Test of the Marginal Productivity Theory: A Cobb-Douglas Exercise
62(2)
Chapter 4 The Supply of Labor: Labor Force Participation
64(23)
Labor Force Participation
65(4)
The Theory of Labor Force Participation for an Individual
69(4)
The Theory of Labor Force Participation for Croups
73(2)
Applications of the Theory
75(9)
Young Workers
76(2)
Older Male Workers
78(3)
Women
81(2)
Race and Residence
83(1)
Summary
84(1)
Key Terms
85(1)
Problems
85(2)
Chapter 5 The Supply of Labor: Hours of Work
87(25)
The History of Working Hours
87(1)
The Way We Work: The Good Old Days?
88(3)
Worker Preferences and Hours Worked
91(1)
The Theory of Hours of Work for an Individual
92(5)
Applications of the Theory
97(2)
Variations on the Wage Line
99(2)
The Way We Work: The Great Hours Debate
101(1)
Welfare Programs and Labor Supply
101(2)
Some Extensions of the Individual Model
103(5)
Family Models
103(2)
Life-Cycle Model
105(3)
Empirical Evidence on Labor Supply Elasticities
108(2)
Summary
110(1)
Key Terms
111(1)
Problems
111(1)
Chapter 6 Human Capital Analysis
112(42)
Some Background
112(3)
Education and Age--Earnings Profiles
115(3)
Around The World: Technology and the Future of Work
118(3)
Putting Theory To Work: The Age-Earnings Curve Again
121(1)
Calculating the Returns to Education
121(5)
The Net Present Value Approach
122(2)
The Internal Rate of Return Approach
124(1)
The Earnings Function Approach
124(2)
The Way We Work: What Good Does a Degree Do?
126(1)
The Evidence
127(14)
Bias in Rate-of-Return Estimates
132(9)
General versus Specific Human Capital
141(2)
Putting Theory To Work: Forensic Economists and Valuing a Life
143(1)
Externalities, Equity, and Subsidies
144(1)
Human Capital and Mobility
145(6)
Summary
151(1)
Key Terms
152(1)
Problems
152(2)
Chapter 7 Labor Market Equilibrium
154(31)
Equilibrium in a Single Labor Market
154(1)
Supply and Demand Models
155(4)
Empirical Evidence
159(3)
The Wage Curve
162(1)
Equilibrium across Different Labor Markets
163(1)
Supply Adjustments
164(1)
Demand Adjustments
165(1)
Compensating Differentials
166(1)
Empirical Studies of Wage Differentials
167(1)
Interregional Migration and Wage Convergence
267(1)
The Way We Work: Family-Friendly Policies
168(4)
Compensating Differentials for Job Safety
172(2)
Putting Theory To Work: Rising Labor Costs in China
174(1)
International Trade and Relative Wages
175(1)
The Relative Supply-Demand Model
176(1)
Theories of Trade and Wages
177(1)
Evidence on Trade and Wages
178(2)
Putting Theory To Work: US Immigration Policy
180(2)
Summary
182(1)
Key Terms
181(1)
Problems
182(3)
Chapter 8 Information and Job Search
185(1)
The Fixed Sample Search Model
186(3)
The Sequential Search Model
189(1)
An Example
189(3)
A More Formal Model
192(1)
Putting Theory To Work: Search in the Laboratory
193(4)
Refinements to the Model
194(1)
Relaxing the Assumption of No On-the-job Search
195(1)
Bilateral Search Models
196(1)
Screening and Signaling
196(1)
Matching Models
197(3)
Equilibrium Search Models
200(2)
The Duration of Unemployment and the Hazard Function
202(1)
Around The World: The Reservation Wage of Polish Job Seekers
202(2)
Labor Mobility
204(1)
Job Search Methods and Results
205(3)
The Way We Work: Unemployment Benefits and Wage Offers
208(1)
Summary
209(1)
Key Terms
210(1)
Problems
210(1)
Chapter 9 Monopsony and Minimum Wages
211(1)
Wage and Employment Determination under Conditions of Monopsony
212(4)
Where Does Monopsony Exist?
216(2)
Geographic Monopsony
216(3)
Government as a Monopsonistic Employer
219(3)
The Market for Professional Athletes
222(4)
Dynamic Monopsony
226(2)
Putting Theory To Work: The Wage Penalty
228(1)
Putting Theory To Work: Is Bigger Better?
228(1)
Minimum Wages
229(3)
Empirical Evidence on the Employment Effect of Minimum Wages
232(6)
The Card-Krueger "Natural Experiment" Study
232(3)
Other Minimum Wage--Employment Studies
235(1)
Econometric Studies
236(2)
Other Effects of the Minimum Wage
238(1)
Putting Theory To Work: A Living Wage?
238(2)
Summary
240(2)
Key Terms
242(1)
Problems
242(1)
Chapter 10 Internal Labor Markets
243(31)
The Characteristics of ILMs
245(3)
The Importance of Long-Term Employment Relations
245(3)
The Way We Work: Number of Jobs and Job Tenure during a Worker's Life
248(4)
Job Hierarchy and Internal Wage Structures
248(3)
Types of ILMs in the US Economy
251(1)
The Evolution of ILMs
252(7)
The US Labor Market a Century Ago
253(1)
The Emergence of ILMs in the United States
253(2)
Lifetime Employment in Japan
255(1)
Employment Protection
255(2)
Are ILMs Becoming Less Important?
257(2)
Putting Theory To Work: Managing Your Internal Labor Markets for Lasting Competitive Advantage
259(2)
High-Performance Work Systems
260(1)
ILMs and Firm Efficiency
261(2)
Implicit Contracts
261(1)
Efficiency Aspects of ILMs
262(1)
Around The World: Is the Gig Economy the Future of Work?
263(4)
ILMs and Firm Performance
264(1)
The Case of Academic Tenure
265(2)
Implications of ILMs for Labor Analysis
267(4)
Wage Determination
267(1)
Collective Bargaining
267(1)
Unemployment
268(1)
Labor Market Segmentation
268(3)
Summary
271(1)
Key Terms
272(1)
Problems
272(2)
Chapter 11 Personnel Economics
274(27)
Motivating Worker Effort
274(7)
Wages and the Supply of Effort
276(1)
Effort and Output in a Fixed Wage System
277(2)
Performance Pay
279(2)
Putting Theory To Work: Do Pay Incentives Increase Effort and Productivity?
281(3)
Difficulties with Implementing Performance Pay
282(2)
The Way We Work: Wells Fargo and the "Dark Side" of Incentive Pay
284(1)
Work-Life Incentive Schemes
285(5)
Basic Concepts
285(2)
The Probation Period
287(1)
Bonuses and Merit Pay
288(1)
Tournaments and Promotions
289(1)
Around The World: The Reward Structure of UK Firms
290(2)
Putting Theory To Work: Incentives for Poor Performance in Sports
292(4)
Fringe Benefits
295(1)
Behavioral Economics
296(2)
Summary
298(1)
Key Terms
299(1)
Problems
299(2)
Chapter 12 Unions and Collective Bargaining
301(54)
A Profile of Unionism in the United States
301(6)
Legislation and Labor Union Growth
303(3)
Unions in the Public Sector
306(1)
The Way We Work: Name That Union!
307(1)
Unionism in Other Countries
308(3)
Theories of Union Growth
311(3)
Union Goals and Objectives
314(1)
Union Monopoly Models
315(15)
Rent Maximization
316(2)
Maximization of the Wage Bill
318(1)
The Median Voter Model
319(2)
The Utility-Maximization Model
321(2)
Employer Wage--Employment Preferences
323(3)
Efficient Contracts
326(4)
Union Bargaining Power and Strikes
330(1)
Bargaining Power
330(1)
The Way We Work: Boycott!
331(4)
Models of Strike Activity
332(3)
The Effects of Unions
335(14)
Measuring Union Wage Effects: The Problems
336(2)
Measuring Union Wage Effects: The Methods
338(2)
The Effects of Unions on Wages
340(4)
The Effects of Unions on Other Economic Variables
344(5)
Summary
349(1)
Key Terms
350(1)
Problems
350(2)
Appendix: Occupational Licensing
352(3)
Chapter 13 Labor Market Discrimination
355(53)
The Many Faces of Labor Market Discrimination
355(2)
Gender and Racial Differences in Labor Markets
357(1)
Gender Differences
357(1)
The Way We Work: Women on Boards
358(7)
The Way We Work: Women's Pay and Family Responsibilities
365(1)
Racial and Ethnic Differences
366(1)
Theories of Labor Market Discrimination
366(9)
Personal Prejudice Theory
368(4)
Statistical Discrimination
372(1)
Other Models of Discrimination
373(2)
The Way We Work: Societal Prejudice at Work?
375(4)
Measuring the Effect of Discrimination on Pay Gaps
379(5)
Case Studies
379(1)
The Earnings Function Approach
380(4)
Discrimination and the Distribution of Earnings
384(1)
The Way We Work: Religious Discrimination and the Irish Troubles
384(1)
What Does the Research Show?
385(11)
Earnings Gaps
385(7)
Evidence from Audit Studies
392(1)
Discrimination in Sports
392(4)
Antidiscrimination Policies
396(6)
The Equal Pay Act
396(1)
The Civil Rights Act
396(1)
Discrimination on the Basis of Age and Disability
397(1)
Affirmative Action
397(2)
Comparable Worth
399(3)
The Effects of Antidiscrimination Policies
402(2)
Summary
404(1)
Key Terms
405(1)
Problems
405(3)
Chapter 14 Unemployment
408(41)
Measures of Unemployment
409(13)
The Unemployment Rate
409(3)
Around The World: Emerging Markets in the Great Recession and Beyond
412(1)
Measurement Issues
413(1)
Labor Market Flows
414(1)
The Duration of Unemployment
414(2)
The Natural Rate of Unemployment
416(6)
Estimating the Natural Rate
416(3)
Determinants of the Natural Rate
419(3)
Changes in the Natural Rate
422(1)
Fluctuations around the Natural Rate
422(11)
The Real Business Cycle Model
423(2)
Wage Rigidity Models
425(7)
Evidence on Wage Rigidity
432(1)
Putting Theory To Work: Excess Supply and Salary Offers for Phd Economists
433(3)
A Model of the Aggregate Labor Market
436(5)
Unemployment in the Great Recession
441(3)
The Way We Work: Mental Health Consequences of Unemployment
444(2)
Summary
446(1)
Key Terms
447(1)
Problems
447(2)
Chapter 15 Wage Inequality, Income Inequality, and Poverty
449(39)
Wage Inequality and Labor Market Performance
450(1)
Measuring Inequality
451(6)
Percentile Wage Differentials
453(2)
The Gini Coefficient
455(2)
The Variance of the Logarithm of Earnings
457(1)
Trends in Wage Inequality
457(6)
International Comparisons
457(3)
Other Aspects of Rising Wage Inequality
460(3)
Causes of Increased Wage Inequality
463(9)
A Relative Supply and Demand Model
464(2)
Causes of Shifts in Demand for Skilled Workers
466(3)
Changes in Labor Market Institutions
469(3)
The Effect of Unemployment Rates
472(1)
From Wage Inequality to Income Inequality
472(2)
Earnings Mobility
473(1)
Around The World: Intergenerational Income Mobility
474(3)
Measuring Inequality in Living Standards
474(1)
The Recipient Unit
475(1)
Trends in Income Inequality
475(2)
The Way We Work: Income Inequality and Marketing Strategy
477(1)
Around The World: Global Income Inequality
478(1)
Poverty
479(4)
The Measurement of Poverty in the United States
479(2)
Poverty in Other Countries
481(2)
Policy Options
483(2)
Keeping Unemployment Low
483(1)
Increasing the Relative Supply of Skilled Workers
484(1)
Shifting Demand Toward Low-Skill Workers
484(1)
Increasing Labor Market Access
484(1)
Maintaining the Real Minimum Wage
485(1)
Summary
485(1)
Key Terms
486(1)
Problems
486(2)
Index 488
Thomas Hyclak is Professor of Economics Emeritus. His research has involved empirical studies of the determinants of wage levels, unemployment, and earnings distributions with an emphasis on urban/regional labor markets and developments in Poland and other transition economies. Dr. Hyclak has also published several studies of the impact of human resource management innovations and industrial relations activities on the performance of workers and their organizations. Recent research projects include studies of the wage returns to foreign language proficiency and the effect of health improvements and increased life expectancy on economic growth. Dr. Hyclak earned his B.A. and M.A. from Cleveland State University and his Ph.D. from the University of Notre Dame and previously served as department chair and as interim dean for the College of Business and Economics. Geraint Johnes is Professor of Economics at Lancaster University Management School. His research focuses on labor economics and the economics of education, with a particular interest in the efficiency of educational provision. His recent papers include work on the gig economy and on the future of the high street. From 2014-15 he was Director of the Work Foundation, a major London-based think-tank dealing in policy issues surrounding the labor market. Dr. Johnes earned his B.Sc. from Bath University and his M.Sc. and Ph.D. from Lancaster. Dr. Johnes has earned numerous professional awards and has been a visiting or guest professor at Dartmouth College, Lehigh University, Australian National University, Beijing Normal University, Oxford University, Cardiff University, and the University of Glasgow. Robert Thornton is the MacFarlane Professor Emeritus of Economics at Lehigh University and an Associate Director of the Martindale Center for the Study of Private Enterprise. He has also served as chairman of Lehighs Department of Economics. His research interests lie in the areas of labor economics (particularly unionism in the public sector, occupational licensing, and labor market discrimination) and forensic economics. He has taught courses in labor economics and statistics. He received his Ph.D. in Economics from the University of Illinois after having served as a research assistant at the Brookings Institution. He began his academic career at Lehigh in 1970 and has been a visiting research professor at the University of Sussex (UK) and University College Dublin (Ireland). He also serves as a private consultant in litigation involving personal injury, wrongful death, and discrimination.