The economics of earnings:
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge u.a.
Cambridge Univ. Press
1993
|
| Edition: | 1. publ. |
| Subjects: | |
| Online Access: | Publisher description Table of contents Inhaltsverzeichnis |
| Physical Description: | XVI, 367 S. graph. Darst. |
| ISBN: | 0521364760 052136728X |
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Record in the Search Index
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|---|---|
| adam_text | The economics of
earnings
S W POLACHEK
State University of New York at Binghamton
and
W S SIEBERT
University of Birmingham
CAMBRIDGE
UNIVERSITY PRESS
Contents
Foreword page xiii
Preface xv
1 Introduction: the importance of life-cycle analysis 1
1 1 What labour economics is about 1
1 2 The life-cycle approach 2
1 3 The static auction market 5
Pareto efficiency 6
Marginal productivity 8
1 4 Long-term contracts 12
1 5 The plan of the book 15
2 The life-cycle human capital model 16
2 1 Introduction 16
2 2 The age-earnings profile 16
2 3 The human capital model 19
2 4 The Ben-Porath model 22
2 5 Algebraic depiction 30
2 6 Depreciation 32
2 7 Conclusions 33
Appendix 2 1 Present values and discounting 35
3 Schooling 39
3 1 Introduction 39
3 2 Human capital specialisation 39
3 3 The rate of return to schooling 42
3 4 Differences in educational attainment 45
Supply and demand analysis 45
Transfers within the family - the Becker-Tomes model 49
Vll
viii Contents
3 5 Individual differences in education: empirical examples 52
Father s occupation and education 52
Studies of twins and brothers/sisters 54
A study of the proportion attending college, by state 57
3 6 Subsidising education 59
Equity 60
Efficiency 64
Public choice 66
3 7 Conclusions 67
Appendix 3 1 Assessing family background effects using
differences in brothers and twins education 68
4 Post-school investment 71
4 1 Introduction 71
4 2 Derivation of the earnings function 71
4 3 Regression estimates 74
4 4 Extensions 77
General and specific training 77
Extended earnings functions 82
Ability - studies of twins 86
4 5 On-the-job training policy 88
4 6 Conclusions 91
Appendix 4 1 Deriving the earnings function 92
5 Labour supply 96
5 1 Introduction 96
5 2 Models of participation and hours 97
The individual 97
Married women s labour supply 108
5 3 Empirical results - women s labourforce participation 112
Trends in participation and associated variables 113
The participation, wage, divorce, fertility system 117
Empirical studies 119
5 4 Male labour supply 127
Elasticity of supply 127
Negative income tax experiments 130
Retirement 131
5 5 Conclusions 135
Contents ix
6 Gender in the labour market 137
6 1 Introduction 137
6 2 Demand-side discrimination 140
Prejudice models 140
Statistical discrimination 143
6 3 Empirical findings on market discrimination 146
Wage discrimination 146
The crowding hypothesis 149
Discrimination and competition 152
6 4 The supply side 154
Differences in tastes 154
Intermittent participation and reduced human capital 155
Intermittent participation and occupational choice 158
Intermittent participation and the wage gap 160
Estimating male and female capital stocks 163
Monopsony and absenteeism 164
6 5 Policy issues 166
Current policy 166
Comparable worth 168
Appropriate policies to combat sex discrimination 171
Appendix 6 1 Calculations of human capital stock for
continuous and intermittent workers 172
7 Compensating wage differentials and heterogeneous
human capital 174
7 1 Introduction 174
7 2 Theory 176
A simple model 176
The wage-job risk locus 180
The wage-job atrophy locus 187
7 3 The facts on compensating differentials 188
Measurement difficulties 189
The evidence 191
7 4 Policy issues 202
Workplace safety 202
Caring and comparable worth 206
7 5 Conclusions 207
Appendix 7 1 How job protection lowers wages, but raises
the cost of capital 208
Appendix 7 2 Omitted and mis-measured variables 209
K Contents
8 Information and wages 210
8 1 Introduction 210
8 2 Search in the labour market 212
A simple model 212
The Stigler search model 216
Sequential search - the optimal stopping rule 220
The job offer production function 226
Demand-side influences 230
8 3 Empirical results 232
Studies of reservation wages and unemployment 232
A model of ignorance in the labour market 238
Search and mobility over the life cycle 242
8 4 Conclusions 247
Appendix 8 1 Calculating the average maximum wage offer
for the uniform distribution 248
Appendix 8 2 Evaluation of E(vf/w w*) for a uniform
distribution 249
Payment systems and internal labour markets
9 1 Introduction
9 2 The labour contract
9 3 Piece rates and the principal agent problem
9 4 Promotion as an incentive - the tournament
9 5 Efficiency wages
The model
Implications
9 6 Deferred compensation
9 7 Specific training
9 8 Contracts and wage rigidity
9 9 The role of trade unions
9 10 Policy
Appendix 9 1 Contracts and wage rigidity
Unionisation
10 1 Introduction
10 2 Union membership
Time trends
Economic factors affecting membership
10 3 Union wage and employment objectives
Monopoly models
Off-the-demand curve models
Contents xi
10 4 Union wage and employment effects in practice
Efficient bargains
Insiders and outsiders
Union effects on non-union workers
Effects of unions on firms
10 5 Industrial democracy
10 6 The professions
10 7 Conclusions
References
Subject index
Author index
|
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| author | Polachek, Solomon W. 1945- Siebert, William S. 1944- |
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| author_facet | Polachek, Solomon W. 1945- Siebert, William S. 1944- |
| author_role | aut aut |
| author_sort | Polachek, Solomon W. 1945- |
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| dewey-ones | 331 - Labor economics |
| dewey-raw | 331.21 331.2/1 20 |
| dewey-search | 331.21 331.2/1 20 |
| dewey-sort | 3331.21 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 1. publ. |
| format | Book |
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| indexdate | 2024-07-09T17:10:45Z |
| institution | BVB |
| isbn | 0521364760 052136728X |
| language | English |
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| spelling | Polachek, Solomon W. 1945- Verfasser (DE-588)130204110 aut The economics of earnings S. W. Polachek and W. S. Siebert 1. publ. Cambridge u.a. Cambridge Univ. Press 1993 XVI, 367 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Wages Occupations Labor market Labor economics Arbeitsmarkttheorie (DE-588)4122827-3 gnd rswk-swf Lohntheorie (DE-588)4168091-1 gnd rswk-swf Lohntheorie (DE-588)4168091-1 s DE-604 Arbeitsmarkttheorie (DE-588)4122827-3 s Siebert, William S. 1944- Verfasser (DE-588)112981283 aut http://www.loc.gov/catdir/description/cam021/91038731.html Publisher description http://www.loc.gov/catdir/toc/cam021/91038731.html Table of contents HEBIS Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005175631&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Polachek, Solomon W. 1945- Siebert, William S. 1944- The economics of earnings Wages Occupations Labor market Labor economics Arbeitsmarkttheorie (DE-588)4122827-3 gnd Lohntheorie (DE-588)4168091-1 gnd |
| subject_GND | (DE-588)4122827-3 (DE-588)4168091-1 |
| title | The economics of earnings |
| title_auth | The economics of earnings |
| title_exact_search | The economics of earnings |
| title_full | The economics of earnings S. W. Polachek and W. S. Siebert |
| title_fullStr | The economics of earnings S. W. Polachek and W. S. Siebert |
| title_full_unstemmed | The economics of earnings S. W. Polachek and W. S. Siebert |
| title_short | The economics of earnings |
| title_sort | the economics of earnings |
| topic | Wages Occupations Labor market Labor economics Arbeitsmarkttheorie (DE-588)4122827-3 gnd Lohntheorie (DE-588)4168091-1 gnd |
| topic_facet | Wages Occupations Labor market Labor economics Arbeitsmarkttheorie Lohntheorie |
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