Contemporary Labor Economics / Edition 7 available in Hardcover
Contemporary Labor Economics / Edition 7
- ISBN-10:
- 0072978600
- ISBN-13:
- 9780072978605
- Pub. Date:
- 01/26/2005
- Publisher:
- McGraw-Hill Companies, The
- ISBN-10:
- 0072978600
- ISBN-13:
- 9780072978605
- Pub. Date:
- 01/26/2005
- Publisher:
- McGraw-Hill Companies, The
Contemporary Labor Economics / Edition 7
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Overview
Product Details
ISBN-13: | 9780072978605 |
---|---|
Publisher: | McGraw-Hill Companies, The |
Publication date: | 01/26/2005 |
Edition description: | Older Edition |
Pages: | 672 |
Product dimensions: | 7.50(w) x 9.20(h) x 1.10(d) |
About the Author
Campbell R. McConnell earned his Ph.D. from the University of Iowa after receiving degrees from Cornell College and the University of Illinois. He taught at the University of Nebraska-Lincoln from 1953 until his retirement in 1990. He is also coauthor of Contemporary Labor Economics, Seventh edition, and Essentials of Economics, First edition (both The McGraw-Hill Companies), and has edited readers for the principles and labor economics courses. He is a recipient of both the University of Nebraska Distinguished Teaching Award and the James A. Lake Academic Freedom Award, and is past-president of the Midwest Economics Association. Professor McConnell was awarded an honorary Doctor of Laws degree from Cornell College in 1973 and received its Distinguished Achievement Award in 1994.
Stanley L. Brue did his undergraduate work at Augustana College (South Dakota) and received its Distinguished Achievement Award in 1991. He received his Ph.D. from the University of Nebraska–Lincoln. He is a professor at Pacific Lutheran University, where he has been honored as a recipient of the Burlington Northern Faculty Achievement Award. Professor Brue has also received the national Leavey Award for excellence in economic education. He has served as national president and chair of the Board of Trustees of Omicron Delta Epsilon International Economics Honorary. He is coauthor of Economic Scenes, Fifth edition (Prentice-Hall), Contemporary Labor Economics, Seventh edition, Essentials of Economics, First edition (both The McGraw-Hill Companies), and The Evolution of Economic Thought, Seventh edition (South-Western).
Table of Contents
Preface iv
Labor Economics: Introduction and Overview 1
Labor Economics as a Discipline 1
The "Old" and the "New" 3
Economic Perspective 4
Gary Becker: Nobel Laureate 6
Overview 6
Lotto Winners: Who Quit? 10
Payoffs 11
The Theory of Individual Labor Supply 14
The Work-Leisure Decision: Basic Model 14
Sleep Time Linked to Earnings 30
Applying and Extending the Model 31
The Carnegie Conjecture 35
More Flexible Work Schedules 37
New Overtime Rules 38
The Labor Supply Impact of the Earned Income Tax Credit 46
Population, Participation Rates, and Hours of Work 52
The Population Base 53
Becker's Model: The Allocation of Time 54
The Changing Face of America 55
Participation Rates: Defined and Measured 59
Secular Trend of Participation Rates 60
Fewer Teens Have Summer Jobs 61
The Later Male Retirement Puzzle 65
Many Wives Outearn Their Husbands 67
The Power of the Pill 70
Family and Medical Leave Act of 1993 74
Cyclic Changes in Participation Rates 76
Hours of Work: Two Trends 78
Time Stress 80
Labor Quality: Investing in Human Capital 85
Investment in Human Capital: Concept and Data 86
The Human Capital Model 87
Recessions and the College Enrollment Rate 95
Twins, Education, and Earnings 97
Higher Education: Making the Right Choices 101
Human Capital Investment and the Distribution of Earnings 104
Reversal of the College Gender Gap 110
On-the-Job Training 112
Criticisms of Human Capital Theory 119
How Much Is a Standardized Test Point Worth? 123
The Demand for Labor 128
Derived Demand for Labor 128
A Firm's Short-Run Production Function 129
Short-Run Demand for Labor: The Perfectly Competitive Seller 134
Short-Run Demand for Labor: The Imperfectly Competitive Seller 136
The Long-Run Demand for Labor 139
Why Has Manufacturing Employment Fallen? 143
The Market Demand for Labor 143
Comparative Advantage and the Demand for Labor 146
Elasticity of Labor Demand 146
Determinants of Demand for Labor 152
Offshore Outsourcing of White-Collar Jobs 156
Real-World Applications 156
Occupational Employment Trends 158
Isoquant-Isocost Analysis of the Long-Run Demand for Labor 164
Isoquant Curves 164
Isocost Curves 166
Least-Cost Combination of Capital and Labor 167
Deriving the Long-Run Labor Demand Curve 168
Wage Determination and the Allocation of Labor 171
Theory of a Perfectly Competitive Labor Market 171
The Fall and Rebound of Real Earnings, 1979-2006 177
Wage and Employment Determination: Monopoly in the Product Market 181
Monopsony 183
Unions and Wage Determination 187
Pay and Performance in Professional Baseball 188
The WTO, Trade Liberalization, and Labor Standards 191
Has Deunionization Increased Earnings Inequality? 197
Bilateral Monopoly 198
NAFTA and American Labor 201
Wage Determination: Delayed Supply Responses 201
Do Medical Students Know How Much Doctors Earn? 204
Alternative Pay Schemes and Labor Efficiency 210
Economics of Fringe Benefits 210
Theory of Optimal Fringe Benefits 213
Does Health Insurance Cause "Job Lock"? 219
The Principal-Agent Problem 220
Pay for Performance 221
Why Is There Academic Tenure? 223
Participant Direction in Pension Plans 229
Efficiency Wage Payments 232
What Is a Good CEO Worth? 233
The Ford Motor Company's {dollar}5 per Day Wage 236
Labor Market Efficiency Revisited 238
The Wage Structure 243
Perfect Competition: Homogeneous Workers and Jobs 243
The Wage Structure: Observed Differentials 244
Wage Differentials: Heterogeneous Jobs 247
The Economics of the Oldest Profession 250
Wage Inequality and Skill-Biased Technological Change 254
Smoking Is Bad for Your Financial Health 256
Wage Differentials: Heterogeneous Workers 256
Do Former College Athletes Earn More Than Nonathletes? 259
The Hedonic Theory of Wages 260
Compensating Pay for Shift Work 264
Placing a Value on Human Life 266
Wage Differentials: Labor Market Imperfections 266
Mobility, Migration, and Efficiency 275
Types of Labor Mobility 275
Migration as an Investment in Human Capital 277
Determinants of Occupational Tenure 278
The Determinants of Migration: A Closer Look 279
The Consequences of Migration 283
Capital and Product Flows 293
U.S. Immigration Policy and Issues 295
Human Trafficking 297
What Jobs Do Illegal Aliens Hold? 301
Labor Unions and Collective Bargaining 305
Why Unions? 305
Labor Unionism: Facts and Figures 306
A Divorce in the Union Movement 312
Unionism's Decline 315
Should the Right to Hire Permanent Strikebreakers Be Rescinded? 319
Will the Internet Help Revive Unions? 323
What Do Unions Want? 324
Strikes and the Bargaining Process 328
The Economic Impact of Unions 335
The Union Wage Advantage 335
A Tale of Two Industries 343
The Highest-Paid Blue-Collar Workers 344
Efficiency and Productivity 346
Labor Strife and Product Quality 351
Unions and Investment 357
Firm Profitability 357
Distribution of Earnings 359
Other Issues: Inflation, Unemployment, and Income Shares 363
Government and the Labor Market: Employment, Expenditures, and Taxation 368
Public Sector Employment and Wages 369
What Do Government Workers Do? 371
Public Sector Unions: Are They Unique? 374
The Military Sector: The Draft versus the Voluntary Army 375
Nonpayroll Spending by Government: Impact on Labor 378
Private Military Companies 379
Labor Market Effects of Publicly Provided Goods and Services 381
Income Taxation and the Labor Market 384
Who Pays the Social Security Payroll Tax? 391
Government and the Labor Market: Legislation and Regulation 394
Labor Law 394
Minimum Wage Law 399
Living Wage Laws 405
Occupational Health and Safety Regulation 407
The Effect of Workers' Compensation on Job Safety 415
Government as a Rent Provider 416
Lawyers Attempt to Disbar Competition from Software 420
Labor Market Discrimination 425
Gender and Racial Differences 425
The Gender Pay Gap: An International Comparison 427
Discrimination and Its Dimensions 432
It Pays to Be Good-Looking 434
Taste for Discrimination Model 435
Competition and Discrimination 439
Theory of Statistical Discrimination 440
The Crowding Model: Occupational Segregation 442
Women's Entry into Selected Professions 448
Cause and Effect: Nondiscriminatory Factors 449
The Gender Pay Gap: Slowing Convergence 453
Antidiscrimination Policies and Issues 454
Orchestrating Impartiality 457
Job Search: External and Internal 463
External Job Search 464
Job Search and the Internet 466
Internal Labor Markets 471
Are Long-Term Jobs Vanishing? 472
The Distribution of Personal Earnings 483
Describing the Distribution of Earnings 483
Explaining the Distribution of Earnings 489
Mobility within the Earnings Distribution 497
Cross-Country Differences in Earnings Mobility Across Generations 498
Government Employment and the Earnings Distribution 499
Rising Earnings Inequality 500
Labor Productivity: Wages, Prices, and Employment 508
The Productivity Concept 508
Importance of Productivity Increases 512
Long-Run Trend of Labor Productivity 516
Is Public Capital Productive? 519
Cyclic Changes in Productivity 521
Productivity and Employment 524
A "New Economy"? 530
Employment and Unemployment 536
Employment and Unemployment Statistics 536
New Data on Job Gains and Losses 543
Macroeconomic Output and Employment Determination 545
Frictional Unemployment 547
Structural Unemployment 549
Downsizing and College Graduates 551
The Danish Flexicurity Model 552
Demand-Deficient Unemployment 553
The Distribution of Unemployment 556
Reducing Unemployment: Public Policies 559
Information Sources in Labor Economics 565
Sources of Labor Statistics 565
Applications, New Theories, Emerging Evidence 573
Textbooks and Research Surveys 579
Glossary 581
Answers to "Your Turn" Questions 596
Name Index 600
Subject Index 607