Labor economics: principles in practice
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
New York ; Oxford
Oxford University Press
[2016]
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Includes index |
| Physical Description: | xxiv, 504 Seiten Diagramme |
| ISBN: | 9780199356034 9780199356041 |
Staff View
MARC
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Record in the Search Index
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| adam_text | Contents
PREFACE TO THE STUDENT xiii
PREFACE TO THE INSTRUCTOR xv
PART ONE
0
1.1 Tipping Busboys 2
1.2 Labor Economics 5
Key Principles 5
1.3 Economic Detection 7
Arguments and Explanations 7
Standards for Evaluating Hypotheses 7
Scientific Method 8
1.4 Data 10
Current Population Survey (CPS) 10
Current Employment Survey (CES) and Other Datasets 11
Occupation Averages in the CPS 11
1.5 Empirical Methods 14
Regression 14
Causation and Instrumental Variables 16
Before-and-After Comparison with and without a Control Group 17
Confidence with Caution 19
1.6 For Your Toolbox 19
Lines 19
Slopes, Marginal Changes, and Elasticities 20
Logarithms 21
Random Variables and Distributions 22
Adjusting for Inflation 22
v
30
31
32
33
36
40
40
48
52
52
54
57
57
61
73
73
76
78
78
80
85
87
88
91
92
93
94
96
98
99
CONTENTS
Labor Markets 29
2.1 Competitive Labor Market
Demand for Nurses Supply of Nurses
Equilibrium in the Market for Nurses Shifting the Equilibrium
2.2 Government Controls Minimum Wage Employment Taxes
2.3 Multiple Competitive Labor Markets Multi-Market Equilibrium and Migration Minimum Wage with Partial Coverage
2.4 Monopsony
Monopsony Model
Application: Baseball s Reserve System
Labor Supply 72
3.1 Motivating Evidence Participation and Employment Rates Weekly Hours of Work
3.2 Hours of Work Opportunities Preferences
Consumption-Leisure Choice Changing Nonlabor Income Changing the Wage Rate Labor Supply Curve
3.3 Applications
Taxing Labor Income Incredible Shrinking Workweek Retirement
3.4 Whether to Work
Reservation Wage
CONTENTS Vil
Application: Commuting and Other Costs of Work 100
Application: Cash Grants and Income Guarantees 102
3.5 Family Labor Supply and Home Production 103
Family Labor Supply 103
Home Production 104
3.6 Market Labor Supply 106
^ Labor Demand 117
4.1 Short-Run Labor Demand 118
Production Function and the Total-Product Curve 118
Average and Marginal Products of Labor 120
Profit 122
Profit-Maximizing Choice of Employment 123
Short-Run Labor Demand Curve 126
Factors that Shift Labor Demand in the Short Run 127
Payroll Tax and Short-Run Labor Demand 128
4.2 Long-Run Labor Demand 129
Production Function and Isoquant Curves 129
Cost Function and Isocost Lines 131
Cost-Minimizing Mix of Labor and Capital 132
Application: Cross-Country Differences in Capital Intensity 134
Profit-Maximizing Choice of Labor and Capital 136
Long-Run Labor Demand Curve 138
Factors that Shift Labor Demand in the Long Run 139
Application: Short-Run v. Long-Run Effects of the Minimum Wage 141
4.3 Market Labor Demand 141
Application: Demand for Palestinian Labor in Israel 142
Equilibrium Price Effects and Marshall s Rules 143
PART TWO
5
___I
Job Attributes 154
5.1 Market for Work on Dirty Jobs
Supply of Labor to Dirty Jobs
155
156
CONTENTS
Demand for Labor on Dirty Jobs 157
Equilibrium Wage Premium on Dirty Jobs 158
5.2 Model of Compensating Wage Differentials 160
Wage-Dirt Curve 160
Worker s Job Choice 161
Firm s Job Choice 162
Equilibrium Compensating Wage Differential 163
Application: Occupational Safety Regulation 165
Application: Value of Life 168
5.3 Workday and Job Choice 170
Employer s Interest in the Length of the Workday 170
Compensating Wage Differentials for Long Workdays 172
5.4 Employee Benefits 174
Composition of Pay 174
Taxing Wages But Not Benefits 175
But Cushy Jobs Pay More 177
Schooling 184
6.1 Schooling as an Investment in Human Capital 185
Wage Profiles and the Wage-Schooling Curve 186
Wealth and Iso-Wealth Curves 189
Wealth-Maximizing Schooling Choice and the Demand
for Schooling 192
Equilibrium Wage-Schooling Curve 194
6.2 Estimating the Rate of Return to Schooling 195
Rate of Return to Schooling Across Occupations 196
Differences in the Interest Rate 197
Tuition, Death, and Taxes 198
Differences in Ability 200
Avoiding Ability Bias 201
6.3 Schooling as a Signal of Ability 204
Signaling Model of Schooling 204
Signaling or Human Capital? 207
6.4 Application: Schooling and the Workweek 210
CONTENTS ix
Training, Turnover, and Migration 220
7.1 General Training 222
On-the-Job Training as an Investment 222
Productivity and Wage Profiles 223
Who Pays for General Training? 226
Wages and Work Experience 228
Labor Supply over the Life Cycle 230
7.2 Applications 232
Military Training of Commercial Pilots 232
MBAs 233
Baseball s Reserve System 235
7.3 Specific Training 236
Who Pays for Specific Training? 237
Specific Training and Turnover 239
7.4 Matching Models of Turnover 240
Searching on the Job 241
Learning the Value of the Match 244
7.5 Migration 245
Migration as an Investment in Human Capital 245
Application: Indentured Servitude 247
Selection on Skill 250
Effects of Immigration in the Short Run and Long Run 251
Application: Mariel Boatlift 252
Discrimination 262
8.1 Measuring Wage Gaps 263
Wage Gaps by Sex, Race, and Ethnicity 263
Standardized Comparison 266
Accounting for Changes in Wage Gaps 272
Wage Gaps by Sex Across Countries 275
Wages and the Sex and Race Compositions of Occupations 276
CONTENTS
8.2 Identifying the Effects of Discrimination 278
Omitted Skill Variables 278
Control Group of Nondiscriminators 279
Test Scores and the Long Shadow of Discrimination in Childhood 281
Discrimination in Hiring: Audit Studies and Blind Auditions 282
8.3 Modeling Discrimination 283
Employer Discrimination 283
Employee Discrimination 289
Customer Discrimination 290
Monopsony Discrimination 291
Statistical Discrimination 292
8.4 Can Discrimination Survive in the Long Run? 295
Paying a Price to Discriminate 295
Institutionalized Discrimination 297
8.5 U.S. Anti-Discrimination Policy 298
Unions 310
9.1 Historical Context 311
Union Membership 311
Union Wage Premium 317
9.2 Models of Unions 321
Union Bargaining with a Monopsony Employer 321
Monopoly Union 323
Efficient-Contracting Union 328
9.3 Applications 331
Comparing Union Models 331
Recipe for a Successful Monopoly Union 335
Effects of Unions on Nonunion Wages 340
CONTENTS xi
10
Wage Distribution 350
10.1 Measuring the Distribution of Wages
Dispersion
Asymmetry
Application: Wage Inequality Across Occupations
10.2 Economic Models of Wage Inequality
Ability
Schooling
Job Assignment in Hierarchies Superstars
10.3 Application: Widening Distribution of Wages
Increasing Return to Skills Skill-Biased Innovations and the Baby Boomers International Trade and Immigration Institutions
PART THREE
11
Compensation Strategies 382
11.1 Introduction to Compensation
Production Environment
Efficient Effort
Self-Employment
Profit Sharing and Shirking
11.2 Performance Pay
Personal Performance Relative Performance
Application: Self-Employment and Entrepreneurship
11.3 Efficiency Wage and the Threat of Dismissal
Efficiency Wage
Threat of Dismissal
Application: Mandatory Retirement
351
352 357 359 361
361
362
363 366
368
370
371
372
373
383
383
384
385 385 388 388 393 396
396
397 400 403
XM CONTENTS
11.4 Compensation of Chief Executive Officers 405
Level of CEO Pay 406
Sensitivity of CEO Pay to Firm Performance 410
Application: Persona! Use of the Corporate Jet 413
12.1 Disequilibrium Unemployment 426
Minimum Wage and Efficiency Wage 426
12.2 Steady-State Unemployment 427
Flows Between Labor-Market States 428
Distribution of Lengths of Spells of Unemployment 431
12.3 Job Search 436
Reservation Wage 437
Career Jobs, Low Interest Rates, and Being Well-Connected 439
12.4 Applications 441
Unemployment insurance 441
European Unemployment 445
12.5 Unemployment in the Macroeconomy 449
Inflation and Unemployment 449
Phillips Curves in a Model of Aggregate Fluctuations 450
ANSWERS TO THE PRACTICE QUESTIONS 463
GLOSSARY 475
INDEX 487
|
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| isbn | 9780199356034 9780199356041 |
| language | English |
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| spelling | McLaughlin, Kenneth J. 1959- (DE-588)128834307 aut Labor economics principles in practice Kenneth J. McLaughlin New York ; Oxford Oxford University Press [2016] © 2016 xxiv, 504 Seiten Diagramme txt rdacontent n rdamedia nc rdacarrier Includes index Labor economics Arbeitsmarkttheorie (DE-588)4122827-3 gnd rswk-swf (DE-588)4123623-3 Lehrbuch gnd-content Arbeitsmarkttheorie (DE-588)4122827-3 s b DE-604 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=028699632&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | McLaughlin, Kenneth J. 1959- Labor economics principles in practice Labor economics Arbeitsmarkttheorie (DE-588)4122827-3 gnd |
| subject_GND | (DE-588)4122827-3 (DE-588)4123623-3 |
| title | Labor economics principles in practice |
| title_auth | Labor economics principles in practice |
| title_exact_search | Labor economics principles in practice |
| title_full | Labor economics principles in practice Kenneth J. McLaughlin |
| title_fullStr | Labor economics principles in practice Kenneth J. McLaughlin |
| title_full_unstemmed | Labor economics principles in practice Kenneth J. McLaughlin |
| title_short | Labor economics |
| title_sort | labor economics principles in practice |
| title_sub | principles in practice |
| topic | Labor economics Arbeitsmarkttheorie (DE-588)4122827-3 gnd |
| topic_facet | Labor economics Arbeitsmarkttheorie Lehrbuch |
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