Labor Economics, second edition / Edition 2 available in Hardcover
Labor Economics, second edition / Edition 2
- ISBN-10:
- 0262027704
- ISBN-13:
- 9780262027700
- Pub. Date:
- 08/01/2014
- Publisher:
- MIT Press
- ISBN-10:
- 0262027704
- ISBN-13:
- 9780262027700
- Pub. Date:
- 08/01/2014
- Publisher:
- MIT Press
Labor Economics, second edition / Edition 2
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Overview
This landmark graduate-level text combines depth and breadth of coverage with recent, cutting-edge work in all the major areas of modern labor economics. Its command of the literature and its coverage of the latest theoretical, methodological, and empirical developments make it also a valuable resource for practicing labor economists.
This second edition has been substantially updated and augmented. It incorporates examples drawn from many countries, and it presents empirical methods using contributions that have proved to be milestones in labor economics. The data and codes of these research publications, as well as numerous tables and figures describing the functioning of labor markets, are all available on a dedicated website (www.labor-economics.org), along with slides that can be used as course aids and a discussion forum.
This edition devotes more space to the analysis of public policy and the levers available to policy makers, with new chapters on such topics as discrimination, globalization, income redistribution, employment protection, and the minimum wage or labor market programs for the unemployed. Theories are explained on the basis of the simplest possible models, which are in turn related to empirical results. Mathematical appendixes provide a toolkit for understanding the models.
Product Details
| ISBN-13: | 9780262027700 |
|---|---|
| Publisher: | MIT Press |
| Publication date: | 08/01/2014 |
| Series: | The MIT Press |
| Edition description: | second edition |
| Pages: | 1080 |
| Product dimensions: | 8.25(w) x 9.31(h) x 1.82(d) |
| Age Range: | 18 Years |
About the Author
Stéphane Carcillo is Associate Professor of Economics at the University of Paris 1, Panthéon-Sorbonne, a Senior Economist in the Directorate for Employment, Labor, and Social Affairs at the OECD, and a Research Fellow in the Department of Economics at Sciences Po (Paris) and at IZA Bonn.
André Zylberberg is Emeritus Research Director at the Centre National de la Recherche Scientifique (CNRS), and member of the Paris School of Economics (PSE).
Table of Contents
| Introduction | xxiii | |
| Acknowledgments | xxxv | |
| Part 1 | Supply and Demand Behaviors | 1 |
| Chapter 1 | Labor Supply | 3 |
| 1 | The Neoclassical Theory of Labor Supply | 5 |
| 2 | Empirical Aspects of Labor Supply | 27 |
| 3 | Summary and Conclusion | 51 |
| 4 | Related Topics in the Book | 52 |
| 5 | Further Readings | 52 |
| 6 | Appendices | 53 |
| Chapter 2 | Education and Human Capital | 59 |
| 1 | Some Facts | 61 |
| 2 | The Theory of Human Capital | 69 |
| 3 | Education as a Signaling Device | 79 |
| 4 | Evaluations of the Returns to Education | 85 |
| 5 | Summary and Conclusion | 102 |
| 6 | Related Topics in the Book | 103 |
| 7 | Further Readings | 103 |
| Chapter 3 | Job Search | 107 |
| 1 | Basic Job Search Theory | 109 |
| 2 | The Equilibrium Search Model and the Theory of Optimal Unemployment Insurance | 125 |
| 3 | Empirical Aspects of Job Search | 146 |
| 4 | Summary and Conclusion | 164 |
| 5 | Related Topics in the Book | 165 |
| 6 | Further Readings | 166 |
| 7 | Appendix: The Discounted Cost of an Unemployed Person | 166 |
| Chapter 4 | Labor Demand | 171 |
| 1 | The Static Theory of Labor Demand | 173 |
| 2 | From Theory to Estimates | 205 |
| 3 | Labor Demand and Adjustment Costs | 212 |
| 4 | Summary and Conclusion | 232 |
| 5 | Related Topics in the Book | 233 |
| 6 | Further Readings | 234 |
| 7 | Appendices | 234 |
| Part 2 | Wage Formation | 243 |
| Chapter 5 | Compensating Wage Differentials and Discrimination | 245 |
| 1 | Perfect Competition and Compensating Wage Differentials | 248 |
| 2 | Obstacles to Perfect Competition (1): Barriers to Entry | 257 |
| 3 | Obstacles to Perfect Competition (2): Imperfect Information | 265 |
| 4 | What Empirical Studies Tell Us | 276 |
| 5 | Summary and Conclusion | 298 |
| 6 | Related Topics in the Book | 299 |
| 7 | Further Readings | 299 |
| Chapter 6 | Contracts, Risk-Sharing, and Incentive | 305 |
| 1 | The Labor Contract | 307 |
| 2 | Risk-Sharing | 309 |
| 3 | Incentive in the Presence of Verifiable Results | 322 |
| 4 | Incentive in the Absence of Verifiable Results | 333 |
| 5 | Summary and Conclusion | 360 |
| 6 | Related Topics in the Book | 361 |
| 7 | Further Readings | 361 |
| Chapter 7 | Collective Bargaining | 369 |
| 1 | Unions and Collective Bargaining | 371 |
| 2 | Bargaining Theory | 380 |
| 3 | Standard Models of Collective Bargaining | 393 |
| 4 | Insiders and Outsiders | 405 |
| 5 | Investment and Hours | 411 |
| 6 | Empirical Evidence Regarding the Consequences of Collective Bargaining | 419 |
| 7 | Summary and Conclusion | 429 |
| 8 | Related Topics in the Book | 431 |
| 9 | Further Readings | 431 |
| 10 | Appendices | 431 |
| Part 3 | Unemployment and Inequality | 441 |
| Chapter 8 | Unemployment and Inflation | 443 |
| 1 | Some Facts | 445 |
| 2 | From the Classical Model to the Keynesian View | 454 |
| 3 | Nominal Rigidities: The Critiques of Friedman and Lucas | 471 |
| 4 | Real Rigidities: Hysteresis and the Wage Curve | 476 |
| 5 | Estimates of the NAIRU and Wage Equations | 485 |
| 6 | Summary and Conclusion | 491 |
| 7 | Related Topics in the Book | 493 |
| 8 | Further Readings | 493 |
| 9 | Appendices | 493 |
| Chapter 9 | Job Reallocation and Unemployment | 503 |
| 1 | Job Flows and Worker Flows | 505 |
| 2 | The Competitive Model with Job Reallocation | 514 |
| 3 | The Matching Model | 517 |
| 4 | Investment and Employment | 537 |
| 5 | Out-of-Stationary-State Dynamics | 545 |
| 6 | The Efficiency of Market Equilibrium | 550 |
| 7 | Summary and Conclusion | 557 |
| 8 | Related Topics in the Book | 558 |
| 9 | Further Readings | 558 |
| Chapter 10 | Technological Progress, Globalization, and Inequalities | 563 |
| 1 | Does Technological Progress Destroy More Jobs Than It Creates? | 565 |
| 2 | Globalization, Inequality, and Unemployment | 582 |
| 3 | Summary and Conclusion | 625 |
| 4 | Related Topics in the Book | 626 |
| 5 | Further Readings | 626 |
| 6 | Appendix | 626 |
| Part 4 | Institutions and Economic Policy | 633 |
| Chapter 11 | Labor Market Policies | 635 |
| 1 | Labor Market Policies: An International Perspective | 636 |
| 2 | Active Policies: Theoretical Analysis | 644 |
| 3 | The Evaluation of Active Labor Market Policies | 668 |
| 4 | The Macroeconomic Effects of Unemployment Benefits | 687 |
| 5 | Conclusion and Summary | 704 |
| 6 | Related Topics in the Book | 707 |
| 7 | Further Readings | 707 |
| Chapter 12 | Institutions and Labor Market Performance | 713 |
| 1 | The Minimum Wage | 715 |
| 2 | Employment Protection | 734 |
| 3 | Taxation | 751 |
| 4 | The Level at Which Wage Bargaining Takes Place | 768 |
| 5 | Macroeconomic Assessments of Institutions | 777 |
| 6 | Summary and Conclusion | 783 |
| 7 | Related Topics in the Book | 784 |
| 8 | Further Readings | 785 |
| Mathematical Appendices | 791 | |
| 1 | Appendix A: Static Optimization | 791 |
| 1.1 | Unconstrained and Constrained Maximum | 791 |
| 1.2 | The Technique of the Lagrangian | 792 |
| 1.3 | The Interpretation of the Lagrange Multipliers | 793 |
| 1.4 | Summary and Practical Guide to Static Optimization | 793 |
| 2 | Appendix B: Dynamic Optimization | 794 |
| 2.1 | The Optimal Control Problem | 794 |
| 2.2 | The First-Order Conditions | 795 |
| 2.3 | Infinite Horizon | 796 |
| 2.4 | Calculus of Variations and the Euler Equation | 796 |
| 2.5 | Summary and Practical Guide to Optimal Control | 797 |
| 3 | Appendix C: Basic Notions Concerning Random Variables | 798 |
| 3.1 | Random Variables and Probability Densities | 798 |
| 3.2 | Independence and Correlation | 799 |
| 3.3 | The Probability Distributions Utilized in This Book | 800 |
| 4 | Appendix D: The Poisson Process and the Value of an Asset | 801 |
| 4.1 | The Poisson Process | 801 |
| 4.2 | Evolution of the Value of an Asset | 802 |
| 4.3 | An Alternative Proof | 803 |
| 5 | Appendix E: Systems of Linear Difference Equations | 803 |
| 5.1 | A Particular Solution | 804 |
| 5.2 | The General Solution | 804 |
| 5.3 | Stability | 806 |
| 5.4 | A Useful Form for the Stability Conditions | 807 |
| 5.5 | The Phase Diagram | 808 |
| 5.6 | User Guide for the Study of Two-Dimensional Linear Systems | 809 |
| Notes | 811 | |
| Name Index | 823 | |
| Subject Index | 831 |
What People are Saying About This
An encyclopedic, integrated, and thoroughly modern presentation of labor econoics, from supply and demand decisions to unemployment to the role and effects of institutions. Topics with which I am familiar have been given clear, concise, precise, balanced, and convincing treatment. This is an outstanding textbook.
This is an excellent textbook that provides a comprehensive introduction to the principles of modern labor economics and clear, rigorous, intuitive expositions of the major models students will need to navigate the field. Each chapter begins with the basic theory underlying modern applications, and then leads into an overview of recent empirical implementations, usually focusing on one or two relevant papers, and discusses the common econometric challenges associated with each topic. This layout is very useful and intuitive for thinking about the problems and for tying theory to empirics. The book was a pleasure to read and helped shape my thinking about the proper way to introduce ideas into a graduate labor course and to demonstrate the power and flexibility of the models.
Labor Economics brings facts to motivate theory that is carefully exposed. Empirical methods and results are integrated with the theory and the book covers an exceptional range of topics, models, and empirical research. The depth and the range of topics make Labor Economics a required volume on the shelves of all academic economists.
This book will prove a landmark. The field of labor economics has not yet had a technically oriented text, and this book fills the gap. The scholarship is most impressive, and the authors should be congratulated.
—Paul Ryan, Professor of Labour Economics, King's College LondonThis is the book to use for a graduate labor course anywhere in the world. The topics and research covered in the new edition are right up-to-date, and the level of the book is perfect for Ph. D. students. I used the earlier edition in my course and would use this too.
— Daniel S. Hamermesh , Professor in Economics, Royal Holloway University of London, and Sue Killam Professor Emeritus of Economics, University of Texas at AustinLabor Economics brings facts to motivate theory that is carefully exposed. Empirical methods and results are integrated with the theory and the book covers an exceptional range of topics, models, and empirical research. The depth and the range of topics make Labor Economics a required volume on the shelves of all academic economists.
— Zvi Eckstein , Dean, The School of Economics, The Interdisciplinary Center (IDC) HerzliyaThis is an impressive textbook. It will show graduate students that modern labor economics is an exciting area of research.
— Erik Plug , Professor of Economics, University of AmsterdamThis is an excellent textbook that provides a comprehensive introduction to the principles of modern labor economics and clear, rigorous, intuitive expositions of the major models students will need to navigate the field. Each chapter begins with the basic theory underlying modern applications, and then leads into an overview of recent empirical implementations, usually focusing on one or two relevant papers, and discusses the common econometric challenges associated with each topic. This layout is very useful and intuitive for thinking about the problems and for tying theory to empirics. The book was a pleasure to read and helped shape my thinking about the proper way to introduce ideas into a graduate labor course and to demonstrate the power and flexibility of the models.
— Laura Turner , Assistant Professor of Economics, University of TorontoAn encyclopedic, integrated, and thoroughly modern presentation of labor econoics, from supply and demand decisions to unemployment to the role and effects of institutions. Topics with which I am familiar have been given clear, concise, precise, balanced, and convincing treatment. This is an outstanding textbook.
— Olivier Blanchard , Department of Economics, MITThis book is an impressive achievement. It offers a uniquely comprehensive, technically in-depth, and up-to-date treatment of modern labor economics suitable for graduate teaching.
— David H. Autor , Department of Economics, MITThis book will prove a landmark. The field of labor economics has not yet had a technically oriented text, and this book fills the gap. The scholarship is most impressive, and the authors should be congratulated.
— Paul Ryan , Professor of Labour Economics, King's College LondonThis book will prove a landmark. The field of labor economics has not yet had a technically oriented text, and this book fills the gap. The scholarship is most impressive, and the authors should be congratulated.
This is the book to use for a graduate labor course anywhere in the world. The topics and research covered in the new edition are right up-to-date, and the level of the book is perfect for Ph.D. students. I used the earlier edition in my course and would use this too.
This book is an impressive achievement. It offers a uniquely comprehensive, technically in-depth, and up-to-date treatment of modern labor economics suitable for graduate teaching.
This is an impressive textbook. It will show graduate students that modern labor economics is an exciting area of research.