Handbook of labor economics, Volume 1
The Handbook brings together a systematic review of the research topics, empirical findings, and methods that comprise modern labor economics. It serves as an introduction to what has been done in this field, while at the same time indicating possible future trends which will be important in both spheres of public and private decision-making.
Part I is concerned with the classic topics of labor supply and demand, the size and nature of the elasticities between the two, and their impact on the wage structure. This analysis touches on two fundamental questions: what are the sources of income inequality, and what are the disincentive effects of attempts to produce a more equal income distribution ?
The papers in Part II proceed from the common observation that the dissimilarity in worker skills and employer demands often tempers the outcomes that would be expected in frictionless labor markets. And the last section of the Handbook deals explicitly with the role of institutional structures (e.g. trade unions) that now form an important part of modern labor economics.
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aggregate allocation analysis Ashenfelter assumed assumption average Becker behavior birth budget constraint Census changes choice cohorts comparative dynamics consumption corner solutions costs cycle demand differentials discrimination dynamic earnings function econometric Economic Review elasticity empirical employment equal equation equilibrium estimates example exogenous income factor female labor supply fertility firm given Heckman household household production function human capital implies income effects increase indifference curve individual inputs investment Journal of Political labor economics labor force participation labor market leisure life-cycle lifetime linear male marginal marginal utility marital marriage measure Mincer negative observed occupation optimal output panel data parameters pension percent Political Economy population problem rate of return ratio Reference regression relative retirement sample schooling selection bias shadow price social security specification statistical studies substitution substitution effects survey Table theory tion translog Trussell unobserved utility function variables wage rate workers