Holdings: Handbook of labor economics

Handbook of labor economics: 3,2 Volume 3B

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Bibliographic Details
Other Authors:	Ashenfelter, Orley 1942- (Editor)
Format:	Book
Language:	English
Published:	Amsterdam [u.a.] North-Holland 1999 Amsterdam Elsevier 1999
Edition:	1. ed.
Series:	Handbooks in economics 5,3,2
Online Access:	Inhaltsverzeichnis
Item Description:	Hier auch später erschienene, unveränderte Nachrucke
Physical Description:	XXV S., S. 2101 - 2939, 83 S. graph. Darst.
ISBN:	0444501886

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MARC


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adam_text	CONTENTS OF VOLUME ЗВ Introduction to the Series v Contents of the Handbook vii Preface to the Handbook xiii PART 8 - THE DEMAND SIDE Chapter 32 Minimum Wages, Employment, and the Distribution of Income CHARLES BROWN 2101 Abstract 2102 JEL codes 2102 1 Introduction 2102 2 Theory 2103 2.1 Basics 2103 2.2 Two-sector models 2104 2.3 Heterogeneous labor 2106 2.4 Monopsony 2108 2.5 Search models 2109 2.6 Offsets 2110 3 Evolution of minimum wage legislation in the US 2111 4 Time series evidence 2113 4.1 Overview 2113 4.2 Hours versus bodies 2117 4.3 Differences by race and sex 2117 4.4 Coverage 2118 4.5 Leads and lags 2119 4.6 What happened? 2119 5 Cross-state comparisons 2121 5.1 Early cross-state studies 2121 5.2 Panel-data studies 2122 6 Studies of low-wage industries 2130 6.1 A traditional method of studying minimum wages 2130 6.2 Methodological issues 2131 xvi Contents of Volume ЗВ 6.3 Recent studies of a low-wage industry: retail trade 2133 6.4 Recent studies of a low-wage industry: fast food 2134 7 Comparisons of low- and high-wage workers 2139 8 Impacts of minimum wages on other outcomes 2142 8.1 Wage distribution spike at the minimum wage 2142 8.2 Offsets 2145 8.3 Spillovers 2147 8.4 Prices 2149 9 The minimum wage and the wage and income distributions 2150 9.1 Effects on the wage distribution 2150 9.2 Effects on the distribution of income 2152 10 Conclusions and future directions 2154 10.1 Accounting for "small" employment effects 2155 10.2 Effects on the distributions of wages and of incomes 2157 10.3 The future of research on the minimum wage 2158 References 2158 Chapter 33 Firm Size and Wages WALTER Y. OI and TODD L. IDSON 2165 Abstract 2166 JEL codes 2166 1. A diversity of jobs 2167 2. The firm in product and labor markets 2169 2.1. The size distribution of firms and establishments 2169 2.2. Wages in relation to firm and establishment size 2172 2.3. Worker characteristics and the skill mix of the workforce 2179 2.4. Self-selection and the size-wage gap 2182 3. Some behavioral explanations 2184 3.1. Monitoring costs and entrepreneurial ability 2184 3.2. Shirking and efficiency wages 2186 3.3. Wages and the ability to pay 2187 4. The productivity hypothesis 2189 4.1. Effort, productivity, and the disutility of work 2190 4.2. Economies of massed reserves 2192 4.3. Capital, technology, and labor productivity 2195 4.4. The organization of production 2201 4.5. Durable jobs and human capital 2204 5. Why does employer size matter? 2207 Appendix A. On the relationship of wages to firm age 2209 References 2211 Contents of Volume ЗВ xv¡¡ Chapter 34 The Labor Market Implications of International Trade GEORGE JOHNSON and FRANK STAFFORD 2215 Abstract 2216 JEL codes 2216 1 Introduction 2216 2 Stylized facts about trade and wages 2217 3 Trade and wages in Ricardian models 2223 3.1 Wage determination in a closed economy 2224 3.2 Wage determination in an open economy 2225 3.3 International equilibrium 2229 3.4 Wage determination outside the cone of diversification 2231 3.5 Product differentiation 2231 3.6 Factor immobility 2236 3.7 Immigration and the factor content of trade 2238 4 Trade and wages in neoclassical trade models 2239 4.1 The closed economy 2239 4.2 The open economy 2243 4.3 Modifications of the open model 2249 4.4 Capital as a factor of production 2251 4.5 The relative wage effects of unionism 2253 4.6 Technological change 2256 4.7 Factor content analysis 2258 4.8 Labor markets in developing countries 2261 4.9 Structural unemployment in the North 2262 5 Empirical studies 2264 5.1 Tests of the Hecksher-Ohlin theorem 2264 5.2 Direct tests of the neoclassical model 2266 5.3 International competitiveness 2268 5.4 The effect of trade on relative wages 2269 5.5 Political economy models 2279 6 Conclusion 2283 References 2284 PART 9: LOOKING WITHIN FIRMS Chapter 35 Individual Employment Contracts JAMES M. MALCOMSON 2291 Abstract 2292 JEL Codes 2292 1 Introduction 2292 2 Some evidence 2293 2.1 Employment contracts 2293 2.2 Changes in pay over time 2296 xviii Contents of Volume ЗВ 2.3 Wages and business cycle shocks 2298 2.4 Cross-section earnings functions 2299 2.5 Summary of "stylized facts" 2300 3 Contracts to allocate risk 2300 3.1 The basic model 2301 3.2 Enforcement problems 2303 3.3 Conclusions on contracts to allocate risk 2310 4 Contracts to protect investments 2311 4.1 Hold-up in the absence of a contract 2313 4.2 Hold-up and employment at will 2317 4.3 Fixed wage contracts and renegotiation 2321 4.4 Fixed wage contracts, turnover costs and hold-up 2324 4.5 Investments by employees 2330 4.6 Investments by both firms and employees 2331 4.7 Private information 2333 4.8 Conclusions on contracts to protect investments 2335 5 Contracts to motivate employees 2337 5.1 Motivation with unverifiable performance: framework 2338 5.2 The Shapiro-Stiglitz model 2340 5.3 Self-enforcing agreements 2342 5.4 Equilibrium in anonymous markets 2346 5.5 Reputations and commitment 2348 5.6 Managers' views 2352 5.7 Experimental evidence 2356 5.8 Econometric evidence 2358 5.9 Conclusions on contracts to motivate employees 2362 6 Concluding remarks 2364 References 2365 Chapter 36 Careers in Organizations: Theory and Evidence ROBERT GIBBONS and MICHAEL WALDMAN 2373 Abstract 2374 JEL codes 2374 1 Introduction 2374 2 Building-block models 2377 2.1 Human-capital acquisition 2378 2.2 Job assignment 2381 2.3 Incentive contracting 2384 2.4 Efficiency wages 2388 2.5 Tournaments 2391 3 Applied models: labor economics 2394 3.1 Wage growth without promotions 2394 3.2 Promotions as assignment mechanisms 2397 3.3 Promotions as incentive mechanisms 2401 Contents of Volume ЗВ xix 3.4 Separations 2404 4 Applied models: human resource management and organization theory 2409 4.1 Politics 2409 4.2 Social relations 2413 4.3 Work practices 2417 5 Integrative models 2420 5.1 Harris and Holmström (1982) 2420 5.2 Demougin and Siow (1994) 2422 5.3 Gibbons and Waldman (1999) 2424 6 Conclusion 2426 References 2428 Chapter 37 Mobility and Stability: the Dynamics of Job Change in Labor Markets HENRY S. FÄRBER 2439 Abstract 2440 JEL codes 2440 1 Introduction 2440 2 Sources of data on job mobility 2441 2.1 The cunent population survey data on tenure 2442 2.2 Data from the March CPS on job change 2443 2.3 Longitudinal data from the РЅШ and NLS 2443 2.4 Aggregate turnover data from employment and earnings 2444 2.5 The Displaced Workers Surveys 2445 2.6 A proposal for improved data on mobility from the CPS 2445 3 A set of facts on job change 2446 3.1 Long-term employment relationships are common 2446 3.2 Most new jobs end early 2453 3.3 The probability of job change declines with tenure 2457 3.4 What accounts for these facts? 2459 4 Why are there long-term employment relationships: the role of specific capital 2459 4.1 Efficient separations with specific capitai 2461 4.2 Match quality as specific capital 2463 5 Can heterogeneity account for the facts? 2464 6 Distinguishing heterogeneity and duration dependence: using data on mobility histories 2466 7 Testing the specific capita] model: using the return to tenure 2468 7.1 Estimating the "return" to tenure 2471 8 Testing the specific capital model: evidence from displaced workers 2475 9 Final remarks 2479 References 2480 xx Contents of Volume ЗВ Chapter 38 Executive Compensation KEVIN J. MURPHY 2485 Abstract 2486 JEL codes 2486 1 Introduction 2486 2 The level and structure of executive compensation 2491 2.1 Introduction 2491 2.2 International comparisons 2495 2.3 The components of CEO pay 2497 2.4 Who sets CEO pay? 2517 3 The relation between pay and performance 2519 3.1 Introduction 2519 3.2 Principal-agent theory and executive compensation 2519 3.3 The implicit relation between pay and shareholder wealth 2522 3.4 The explicit relation between pay and shareholder wealth 2527 3.5 Total pay-performance sensitivities 2528 3.6 Trends in CEO stock ownership 2532 3.7 Relative performance evaluation 2535 3.8 Do incentives matter? 2539 4 Executive turnover and company performance 2542 5 The politics of pay 2551 6 Conclusions 2555 Appendix A. Option valuation and the Black-Scholes formula 2556 References 2557 PART 10: INTERACTIONS BETWEEN DEMAND AND SUPPLY Chapter 39 New Developments in Models of Search in the Labor Market DALE T. MORTENSEN and CHRISTOPHER A. PISSARIDES 2567 Abstract 2568 JEL codes 2568 1 Introduction 2568 2 Modeling markets with friction 2571 2.1 The stopping problem 2571 2.2 Two-sided search and wage determination 2574 2.3 Matching technology 2575 2.4 Search equilibrium 2577 3 Equilibrium unemployment 2578 3.1 Exogenous job destruction 2578 3.2 Job and worker flows 2583 3.3 Social efficiency 2587 4 Alternative models of wage determination 2589 4.1 Competitive search equilibrium 2589 Contents of Volume ЗВ xx¡ 4.2 Monopoly union 2591 4.3 Strategic bilateral bargaining 2592 4.4 Rent sharing with turnover costs 2594 4.5 Insider wage 2597 4.6 Efficiency wage 2598 5 Labor market policy analysis 2601 5.1 Modeling labor market policy 2602 5.2 The qualitative effects of policy 2603 5.3 The quantitative effects of policy 2604 5.4 A call for research 2607 6 Wage posting games 2607 6.1 The Diamond paradox 2608 6.2 Wage dispersion: differential costs of search 2610 6.3 Wage dispersion: more than one offer 2612 6.4 Search on the job 2613 6.5. Worker and employer heterogeneity 2615 6.6. Structural estimation 2617 7. Wage posting in a matching model 2619 7.1. Search and matching 2620 7.2. Wage posting 2620 7.3. Endogenous productive heterogeneity 2622 8. Summary 2623 References 2624 Chapter 40 The Analysis of Labor Markets using Matched Employer-Employee Data JOHN M. ABOWD and FRANCIS KRAMARZ 2629 Abstract 2630 JEL codes 2630 1 Introduction 2630 2 The different types of matched employer-employee datasets 2631 2.1 Representative cross-sections of firms with representative data on workers 2632 2.2 Representative cross-sections of firms with non-representative data on workers 2647 2.3 Representative cross-sections of workers matched with longitudinal data on firms 2648 2.4 Representative matched worker-firm panels (administrative origin) 2652 2.5 Representative matched worker-firm panels (statistical surveys) 2655 2.6 Non-representative cross-sections and panels of workers and firms 2658 3 Statistical models for matched employer-employee datasets 2660 3.1 The basic linear model 2660 3.2 Aggregation and omitted variable biases 2661 3.3 Identification of person and firm effects 2662 3.4 Aggregation and omitted variable biases for inter-industry wage differentials 2663 3.5 Aggregation and omitted variable biases for inter-person wage differentials 2665 3.6 Firm-size wage effects 2665 3.7 Other methodological issues 2665 xxii Contents of Volume 3B 4 From theoretical models to statistical models: potential interpretations of the descriptive models 2666 4.1 Measurement of the internal and external wage 2666 4.2 A matching model with endogenous turnover 2667 4.3 A rent-splitting model with exogenous turnover 2668 4.4 An incentive model with unobserved individual heterogeneity 2669 5 New results with matched employer-employee datasets: compensation structure 2672 5.1 Models with both person and firm effects 2672 5.2 Models with firm effects only 2676 5.3 Models of the wage-seniority relation 2681 6 New results with matched employer-employee datasets: wage and employment mobility 2684 7 New results with matched employer-employee datasets: firm outcomes and worker characteristics 2686 7 1 Productivity 2686 7.2 Productivity and seniority 2687 7.3 Profits 2688 7.4 New technologies 2688 7.5 Creation and destruction of jobs 2691 7.6 Training 2695 7.7 Unions and collective bargaining 2696 7.8 Other firm outcomes 2698 7.9 Specialized applications 2703 8 Conclusion 2704 References 2704 Chapter 41 Gross Job Flows STEVEN J. DAVIS and JOHN HALTIWANGER 2711 Abstract 2712 JEL codes 2712 1 Introduction 2712 2 Concepts and measurement 2716 2.1 Job flow concepts 2716 2.2 Measurement issues and comparisons across studies 2718 2.3 Notation and formulas 2719 3 Key facts about gross job flows 2720 3.1 Large magnitude 2720 3.2 Predominance of idiosyncratic factors 2723 3.3 Persistence of underlying employment movements 2727 3.4 Concentration and lumpiness of underlying employment movements 2727 3.5 Systematic differences across sectors: magnitude 2731 3.6 Distinct cyclical dynamics of creation and destruction 2733 3.7 Systematic differences across sectors: cyclical dynamics 2738 Contents of Volume ЗВ xx¡i¡ 4 Employer characteristics and the magnitude of job flows 2742 4.1 Sectoral differences 2742 4.2 Plant-level regressions 2744 4.3 Employer size and job reallocation 2747 5 Theories of heterogeneity 2749 5.1 Explaining the magnitude of gross job flows 2749 5.2 Explaining cross-sectional variation in the magnitude of job flows 2752 5.3 National differences in the magnitude of gross job flows 2753 6 Job flows and worker flows 2754 6.1 Relative magnitudes 2754 6.2 Other evidence on the connection between job and worker flows 2757 6.3 Job destruction and worker displacement 2759 7 Job flows and creative destruction 2761 7.1 Theoretical models 2761 7.2 Empirical studies of reallocation and productivity growth 2762 7.3 Evidence for the US manufacturing sector 2764 8 Job and worker flows in transition economies 2768 8.1 Background and theoretical issues 2769 8.2 Broad patterns of reallocation in transition economies 2772 8.3 Gross flows in Poland and Estonia 2775 9 Cyclically in job flows 2780 9.1 Theoretical perspectives 2781 9.2 Normative issues 2784 9.3 Empirical evidence on the role of allocative shocks 2785 10 Job flows, productivity and welfare: selected theoretical issues 2787 10.1 A simple model of investment and job flows 2787 10.2 Choking off the creative destruction process 2790 10.3 Unleashing the creative destruction process 2794 10.4 Job flows and longterm growth 2795 11 Concluding remarks 2796 References 2797 PART 11: EMERGENT LABOR MARKETS Chapter 42 Labor Markets in the Transitional Central and East European Economies JAN SVEJNAR 2809 Abstract 2810 JEL codes 2810 1 Introduction 2810 2 Central planning, transition and labor markets 2813 3 The nature of data sources 2815 4 Employment determination 2816 4.1 Basic estimates of employment elasticities with respect to output and wage 2816 4.2 Studies of firms with increasing versus decreasing sales 2823 xxiv Contents of Volume ЗВ 4.3 Other factors affecting employment 2826 4.4 Summary 2827 5 Wage determination by firms 2830 5.1 Summary 2833 6 Fringe benefits 2834 6.1 Summary 2835 7 Individual wages and human capital 2835 7.1 Summary 2839 8 Unemployment 2839 8.1 Unemployment duration 2840 8.2 Matching functions 2847 8.3 Summary 2851 9 Concluding observations 2852 References 2853 Chapter 43 Labor Markets in Developing Countries JERE R. BEHRMAN 2859 Abstract 2860 JEL codes 2860 1 Introduction 2860 2 The household enterprise model, surplus labor, disguised employment and unemployment, complete markets and separability, rural dualism 2863 2.1 Complete markets 2866 2.2 No markets 2869 2.3 Tests of separability and of market completeness 2870 2.4 Empirical studies of rural labor supplies 2871 2.5 Household formation 2875 3 Labor contracts, risks and incentives 2876 3.1 Dominance of household farms in agriculture 2877 3.2 Day versus longer-run labor contracts 2878 3.3 Implications of land contracts for labor 2879 3.4 Empirical studies of rural labor supplies and risk 2880 3.5 Empirical studies of imperfect information and labor markets 2882 4 Determinants of and returns to human capital investments 2884 4.1 Determinants of health and nutrition investments 2888 4.2 Productivity impact of health and nutrition 2893 4.3 Determinants of schooling 2901 4.4 Impact of schooling on economic productivity 2910 5 Urban labor markets, labor-market regulations, international trade policies and manufacturing 2916 5.1 Urban labor market dualism 2916 5.2 The effects of labor market regulations on formal-sector wages and employment 2917 5.3 The effect of trade reform and adjustment on formal-sector manufacturing labor 2918 6 Distribution and mobility 2920 Contents of Volume ЗВ xxv 6.1 Intertemporal aspects of distribution and the Kuznets hypothesis of inverted U pattern in inequality with development 2921 6.2 Geographical mobility 2923 6.3 Empirical investigation of urban informal-formal mobility 2926 6.4 Distributional differences among demographic groups 2927 7 Conclusions 2929 References 2930 Author index I- 1 Subject index 1-35
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spelling	Handbook of labor economics 3,2 Volume 3B ed. by Orley Ashenfelter ... 1. ed. Amsterdam [u.a.] North-Holland 1999 Amsterdam Elsevier 1999 XXV S., S. 2101 - 2939, 83 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Handbooks in economics 5,3,2 Handbooks in economics 5 Hier auch später erschienene, unveränderte Nachrucke Ashenfelter, Orley 1942- (DE-588)124081886 edt (DE-604)BV000699525 3,2 Handbooks in economics 5,3,2 (DE-604)BV000009734 5,3,2 Digitalisierung UB Bamberg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008573477&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis
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title_full	Handbook of labor economics 3,2 Volume 3B ed. by Orley Ashenfelter ...
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