Modern Labor Economics: Theory and Public Policy / Edition 8

Modern Labor Economics: Theory and Public Policy / Edition 8

by Ronald G. Ehrenberg, Robert S. Smith, Robert Stewart Smith
     
 

ISBN-10: 0201785773

ISBN-13: 9780201785777

Pub. Date: 07/05/2002

Publisher: Pearson Education

Written for undergraduate labor economics courses, this text draws on both current and classic research and uses policy examples and case studies to illustrate theory in business, historical, and cross-cultural contexts. This eighth edition has been revised to create a more streamlined text, with new discussion of immigration and child care issues and new boxed

Overview

Written for undergraduate labor economics courses, this text draws on both current and classic research and uses policy examples and case studies to illustrate theory in business, historical, and cross-cultural contexts. This eighth edition has been revised to create a more streamlined text, with new discussion of immigration and child care issues and new boxed examples on applied topics. Learning features continued in this edition include review questions and problems. The text can be used with students who do not have an extensive background in economics. The authors are affiliated with the School of Industrial and Labor Relations at Cornell University. Annotation c. Book News, Inc.,Portland, OR

Product Details

ISBN-13:
9780201785777
Publisher:
Pearson Education
Publication date:
07/05/2002
Series:
Addison-Wesley Series in Economics
Edition description:
8TH
Pages:
587
Product dimensions:
7.54(w) x 9.42(h) x 1.14(d)

Table of Contents

Prefacexvii
Chapter 1Introduction1
The Labor Market2
Labor Economics: Some Basic Concepts2
Plan of the Text12
Chapter 2Overview of the Labor Market24
The Labor Market: Definitions, Facts, and Trends25
How the Labor Market Works34
Applications of the Theory47
Chapter 3The Demand for Labor56
Profit Maximization57
The Short-Run Demand for Labor When Both Product and Labor Markets Are Competitive60
The Demand for Labor in Competitive Markets When Other Inputs Can Be Varied67
Labor Demand When the Product Market Is Not Competitive71
Monopsony in the Labor Market73
Policy Application: The Labor Market Effects of Employer Payroll Taxes and Wage Subsidies79
Chapter 4Labor Demand Elasticities96
The Own-Wage Elasticity of Demand97
The Cross-Wage Elasticity of Demand105
Policy Application: Effects of Minimum Wage Laws110
Applying Concepts of Labor Demand Elasticity to the Issue of Technological Change118
Chapter 5Quasi-Fixed Labor Costs and Their Effects on Demand131
Nonwage Labor Costs132
The Employment/Hours Trade-off136
Firms' Labor Investments and the Demand for Labor141
General and Specific Training150
Hiring Investments158
Chapter 6Supply of Labor to the Economy: The Decision to Work163
Trends in Labor Force Participation and Hours of Work164
A Theory of the Decision to Work167
Policy Applications190
Chapter 7Labor Supply: Household Production, the Family, and the Life Cycle203
The Theory of Household Production203
The Tripartite Choice: Market Work, Household Work, and Leisure207
Joint Labor Supply Decisions within the Household210
Life-Cycle Aspects of Labor Supply216
Policy Application: Child Care and Labor Supply223
Chapter 8Compensating Wage Differentials and Labor Markets231
Job Matching: The Role of Worker Preferences and Information231
Hedonic Wage Theory and the Risk of Injury238
Hedonic Wage Theory and Employee Benefits251
Chapter 9Investments in Human Capital: Education and Training265
Human Capital Investments: The Basic Model267
The Demand for a College Education269
Education, Earnings, and Postschooling Investments in Human Capital276
Is Education a Good Investment?286
Chapter 10Worker Mobility: Migration, Immigration, and Turnover310
The Determinants of Worker Mobility311
Geographic Mobility311
Policy Application: Restricting Immigration321
Employee Turnover and Job Matching331
Chapter 11Pay and Productivity: Wage Determination within the Firm344
Motivating Workers: An Overview of the Fundamentals346
Productivity and the Basis of Yearly Pay353
Productivity and the Level of Pay359
Productivity and the Sequencing of Pay362
Applications of the Theory: Explaining Three Puzzles370
Chapter 12Gender, Race, and Ethnicity in the Labor Market377
Measured and Unmeasured Sources of Earnings Differences379
Theories of Market Discrimination394
Federal Programs to End Discrimination408
Chapter 13Unions and the Labor Market423
Union Structure and Membership424
Constraints on the Achievement of Union Objectives429
The Activities and Tools of Collective Bargaining436
The Effects of Unions452
Chapter 14Inequality in Earnings471
Measuring Inequality472
Earnings Inequality since 1980: Some Descriptive Data475
The Underlying Causes of Growing Inequality482
International Comparisons of Changing Inequality492
Chapter 15Unemployment503
A Stock-Flow Model of the Labor Market505
Frictional Unemployment509
Structural Unemployment516
Demand-Deficient (Cyclical) Unemployment522
Seasonal Unemployment529
When Do We Have Full Employment?530
Answers to Odd-Numbered Review Questions and Problems537
Name Index571
Subject Index577

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