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Author : Richard Barry Freeman
Release : 1989
Genre : Business & Economics
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis Labor Markets in Action by : Richard Barry Freeman
Download or read book Labor Markets in Action written by Richard Barry Freeman. This book was released on 1989. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ingrid Hahne Rima
Release : 1996
Genre : Business & Economics
Kind : eBook
Book Rating : 381/5 ( reviews)
Book Synopsis Labor Markets in a Global Economy by : Ingrid Hahne Rima
Download or read book Labor Markets in a Global Economy written by Ingrid Hahne Rima. This book was released on 1996. Available in PDF, EPUB and Kindle. Book excerpt: Rima (economics, Temple U.) departs from the convention of defining labor economics chiefly in micro-analytical terms, instead examining supply and demand without relying on the presumption that the two are invariably brought into balance through market-clearing changes in wage rates. The volume's 19 chapters are divided into sections covering the macro- and micro-economic aspects of labor-market behavior and outcomes, the wage structure and the level of wages and prices, and labor policy issues. For undergraduate level students. Paper edition (unseen), $24.95. Annotation copyright by Book News, Inc., Portland, OR
Author : Robert Shimer
Release : 2010-04-12
Genre : Business & Economics
Kind : eBook
Book Rating : 232/5 ( reviews)
Book Synopsis Labor Markets and Business Cycles by : Robert Shimer
Download or read book Labor Markets and Business Cycles written by Robert Shimer. This book was released on 2010-04-12. Available in PDF, EPUB and Kindle. Book excerpt: Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.
Author : David H. Autor
Release : 2008
Genre : Industrial relations
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis The Economics of Labor Market Intermediation by : David H. Autor
Download or read book The Economics of Labor Market Intermediation written by David H. Autor. This book was released on 2008. Available in PDF, EPUB and Kindle. Book excerpt: Labor Market Intermediaries (LMIs) are entities or institutions that interpose themselves between workers and firms to facilitate, inform, or regulate how workers are matched to firms, how work is accomplished, and how conflicts are resolved. This paper offers a conceptual foundation for analyzing the market role played by these understudied institutions, and to develop a qualitative and, in some cases, quantitative sense of their significance to market operation and welfare. Though heterogeneous, I argue that LMIs share a common function, which is to redress -- and in some cases exploit -- a set of endemic departures of labor market operation from the efficient neoclassical benchmark. At a rudimentary level, LMIs such as online job boards reduce search frictions by aggregating and reselling disparate information at a cost below which workers and firms could obtain themselves. Beyond passively supplying information, a set of LMIs forcibly redress adverse selection problems in labor markets by compelling workers and firms to reveal normally hidden credentials, such as criminal background, academic standing, or financial integrity. At their most forceful, LMIs such as labor unions and centralized job matching clearinghouses, resolve coordination and collective action failures in markets by tightly controlling -- even monopolizing -- the process by which workers and firms meet, match and negotiate. A unifying observation of the analytic framework is that participation in the activities of a given LMI are typically voluntary for one side of the market and compulsory for the other; workers cannot, for example, elect to suppress their criminal records and firms cannot opt out of collective bargaining. I argue that the nature of participation in an LMI's activities -- voluntary or compulsory, and for which parties -- is dictated by the market imperfection that it addresses and thus tells us much about its economic function.
Author : Alan Manning
Release : 2013-12-03
Genre : Business & Economics
Kind : eBook
Book Rating : 673/5 ( reviews)
Book Synopsis Monopsony in Motion by : Alan Manning
Download or read book Monopsony in Motion written by Alan Manning. This book was released on 2013-12-03. Available in PDF, EPUB and Kindle. Book excerpt: What happens if an employer cuts wages by one cent? Much of labor economics is built on the assumption that all the workers will quit immediately. Here, Alan Manning mounts a systematic challenge to the standard model of perfect competition. Monopsony in Motion stands apart by analyzing labor markets from the real-world perspective that employers have significant market (or monopsony) power over their workers. Arguing that this power derives from frictions in the labor market that make it time-consuming and costly for workers to change jobs, Manning re-examines much of labor economics based on this alternative and equally plausible assumption. The book addresses the theoretical implications of monopsony and presents a wealth of empirical evidence. Our understanding of the distribution of wages, unemployment, and human capital can all be improved by recognizing that employers have some monopsony power over their workers. Also considered are policy issues including the minimum wage, equal pay legislation, and caps on working hours. In a monopsonistic labor market, concludes Manning, the "free" market can no longer be sustained as an ideal and labor economists need to be more open-minded in their evaluation of labor market policies. Monopsony in Motion will represent for some a new fundamental text in the advanced study of labor economics, and for others, an invaluable alternative perspective that henceforth must be taken into account in any serious consideration of the subject.
