Modern Labor EconomicsThis edition of the introductory text in labor economics develops the modern theory of labor market behavior, summarizes empirical evidence that supports or contradicts each hypothesis, and illustrates the usefulness of the theory for public policy analysis. It presents an overview of demand and supply in labor markets, and deals with labor supply issues, compensation, unionism, public sector labor markets, discrimination, and the macroceonomic issues of inflation and unemployment. The edition provides new discussions of implicit contracting and asymmetric information; selectivity bias in rates of return to education; sex differences in the choice of college majors; firm size and gender effects on quit rates; the effects of union on profitability; and determinants of retirement age. It also includes analyses of state fair employment practice laws and Title VII of the Civil Rights Act. ISBN 0-673-18105-7 : $26.95. |
Contents
The Labor Market | 2 |
Plan of the Text | 10 |
The Demand for Labor | 49 |
Copyright | |
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analysis average behavior Chapter compensating wage differentials constraint contract decisions demand curve demand for labor discussion earnings elasticity of demand employed employment levels equilibrium estimates example expected factors Figure firm fringe benefits hiring human capital immigration incentives income effect incomes policies indifference curves individuals industries investments isoprofit curve isoquant Jacob Mincer Labor Economics labor force labor market labor supply layoffs leisure less marginal cost marginal product market discrimination minimum wage nonunion occupational offer Orley Ashenfelter output overtime paid pension percent percentage period present value price inflation profits public employees public sector rate of wage real wage reduce relative retirement risk shift slope social studies substitution effect supply curve Suppose Table teenagers tend theory things equal U.S. Government Printing unemployed unemployment rate United utility W₁ wage increases wage inflation wage rate women workers