## Labor EconomicsThis landmark graduate-level text combines depth and breadth of coverage with recent, cutting-edge work in all the major areas of modern labor economics. It is the only textbook available for advanced graduate students in the field, and it will be widely used; because of its command of the literature and the freshness of the material included, it will also prove to be a valuable resource for practicing labor economists. The book moves back and forth between factual data and theoretical reasoning. The space devoted to theory reflects the profound theoretical restructuring in the field that has taken place in the last thirty years; the authors present these developments within a unified pedagogic framework. The teaching methods are based on mathematical models, with the mathematical analyses laid out clearly, and the derivation of most results given in five mathematical appendixes that provide a toolkit for understanding the models. The book is divided into four parts: Supply and Demand Behaviors examines the determinants of labor supply and demand; Wage Formation discusses wage determinants, including the influences of the wage policies of firms and collective bargaining; Unemp |

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### Contents

PART ONE Supply and Demand Behaviors | 5 |

Education and Human Capital | 59 |

Job Search | 107 |

Labor Demand | 171 |

From Theory to Estimates | 205 |

Labor Demand and Adjustment Costs | 212 |

Summary and Conclusion | 232 |

Compensating Wage Differentials | 245 |

Job Reallocation and Unemployment | 503 |

Technological Progress Globalization | 563 |

Globalization Inequality and Unemployment | 582 |

Summary and Conclusion | 625 |

Labor Market Policies | 635 |

Subsidies? | 660 |

Institutions and Labor Market Performance | 713 |

Employment Protection | 734 |

Contracts RiskSharing and Incentive | 305 |

Collective Bargaining | 369 |

I | 373 |

Standard Models of Collective Bargaining | 393 |

Dispersion | 401 |

Investment and Hours | 411 |

Empirical Evidence Regarding the Consequences | 419 |

PART THREE Unemployment and Inequality | 441 |

Labor Force | 447 |

From the Classical Model to the Keynesian View | 454 |

Taxation | 751 |

The Level at Which Wage Bargaining Takes Place | 768 |

Macroeconomic Assessments of Institutions | 777 |

Summary and Conclusion | 783 |

The Poisson Process and the Value | 801 |

Notes | 811 |

Name Index | 823 |

831 | |

### Other editions - View all

Labor Economics Pierre Cahuc,Stéphane Carcillo,André Zylberberg,William McCuaig Limited preview - 2014 |

Labor Economics Pierre Cahuc,Stéphane Carcillo,André Zylberberg,William McCuaig Limited preview - 2014 |

### Common terms and phrases

agent Ashenfelter assume average bargaining power Beveridge curve chapter collective bargaining competitive constraint contract contract curve defined denoted depends duration Economic Review effect efficient elasticity empirical studies employer entails equal estimate exogenous expected utility factor Figure firm France growth rate hiring human capital hypothesis impact incentive income increase indifference curve individual investment job destruction job search job-seeker Journal of Economics labor demand Labor Economics labor market tightness labor supply macroeconomic matching model ment minimum wage monopsony NAIRU Nash negotiated wage number of hours obtained OECD OECD countries offer optimal parameter participation perfect competition Phillips curve player ployment policies possible problem real wages reduce relation remuneration represents reservation wage respect rise sector shows solution subgame perfect equilibrium substitution takes technological progress theory tion unem unemployed persons unemployment benefits unemployment insurance unemployment rate union United Kingdom vacant jobs variables wage inequality workers zero