A Classical Approach to Occupational Wage RatesDavid Gleicher and Lonnie Stevans present a theory of occupational wage rates that is a classical alternative to human capital theory. They introduce the net employment reserve, a novel explanatory variable that measures the bargaining power of employees in an occupation. An econometric model which includes net reserves is designed and tested. Results suggest standard empirical tests of human capital theory are misspecified. Other topics include: the origin of the firm, screening hypothesis, wage-efficiency, internal labor markets, and labor-market segmentation. This work offers insight into the theoretical and econometric modeling of labor specialization, as well as wage-rate differentials among occupations. It addresses researchers and graduate students in labor economics, classical price theory, and general political economy. |
Contents
A Theoretical Model of Prices and Wage Rates | 1 |
Extensions of the Theoretical Model 27 272 | 27 |
WageRate Determination 1 | 55 |
Copyright | |
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A Classical Approach to Occupational Wage Rates David Gleicher,Lonnie Stevens No preview available - 1991 |