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The Economics Of Labor Markets with Infotrac

by: Kaufman, Bruce E.; Hotchkiss, Julie L.

The Economics Of Labor Markets with Infotrac

by: Kaufman, Bruce E.; Hotchkiss, Julie L.

ISBN 13:
9780324288797
ISBN 10:
0324288794
Edition: 7th
Format: Hardcover
Copyright: 07/19/2005
Publisher: Cengage Learning

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Summary

Widely regarded as the best, most comprehensive text available for the in-depth study of labor market theories, the text calls uponexcellent pedagogical elements and empirical research to introduce students to labor economics. The authors' balanced approach to thematerial enables students to gain an understanding of the background of the field as they explore its latest developments and uniquetopics not covered in most competing texts.

Preface

xvii

About the Authors

xxiii

The Labor Market

(43)

The Labor Market and the Economy

(3)

Unique Features of the Labor Market

(3)

Labor Is Embodied in the Seller

(1)

The Long-Term Nature of the Employment Relationship

(1)

Heterogeneity of Workers and Jobs

(1)

The Multiplicity of Markets

(1)

Labor Market Outcomes

(8)

The Changing Level and Composition of Labor Supply

(1)

The Changing Level and Composition of Labor Demand

(3)

The Structure of Earnings

(1)

Labor-Management Relations and Collective Bargaining

(2)

Changes in the Level and Composition of Unemployment

(1)

The Labor Market Process

(11)

Market Forces

(5)

Institutional Forces

(2)

Sociological Forces

(4)

The Evolution of Labor Market Theory

(9)

The Neoclassical School

(4)

The Institutional School

(3)

Modern Labor Economics: A Pragmatic Blend?

(1)

The Importance of Theory and Hypothesis Testing

(3)

In the News Different Views on the Merits of Ergonomics Standards

(2)

The Importance of Theory for Public Policy

(4)

Empirical Evidence 1-1 The Market for Teachers: 1971--2001

(2)

Summary

(1)

Review Questions

(2)

Hours of Work

(70)

The Pattern of Hours of Work

(2)

The Theory of the Labor/Leisure Choice

(16)

Preferences and Indifference Curves

(4)

Wages, Income, and the Budget Constraint

(3)

The Equilibrium Hours of Work

(1)

Hours of Work and Changes in Nonlabor Income

(2)

Hours of Work and Changes in the Wage Rate

(3)

A Graphic Derivation of Income and Substitution Effects

(1)

The Supply Curve of Labor

(1)

Income Maintenance Programs and Labor Supply

(9)

Types of Income Transfer Programs

(1)

TANF: The Successor to AFDC

(2)

TANF and Hours of Work

(3)

In the News Welfare Reform: Success with Trouble Spots

(2)

Issues in Welfare Reform

(1)

Qualifications to the Labor/Leisure Model

(8)

Employer-Mandated Work Schedules

(4)

In the News Work Hour Differences between the United States and Europe: Economic, Legal, or Cultural Explanations?

(1)

Time and Money Costs of Working

(3)

The Time-Series Pattern of Hours of Work

(15)

The Process of Hours Reduction

(2)

The Slower Decline of Work Hours in the Postwar Period

(2)

The Recent Increase in Work Hours

(2)

Policy Application 2-1 Supply-Side Economics and Labor Supply

(4)

Empirical Evidence 2-1 Labor Supply Curves Estimated from Cross-Sectional Data

(3)

Summary

(1)

Review Questions

(19)

Appendix 2A The Hours of Work Decision for Salaried Workers

(6)

Appendix 2B Constrained Optimization and the Labor/Leisure Choice Model

103

(4)

Appendix 2C Estimating a Labor Supply Curve with Linear Regression

107

(7)

Labor Force Participation

114

(58)

Definition and Measurement of the Labor Force

114

(4)

In the News The Work Force in the Twenty-First Century: The Challenge Facing Employers

117

(1)

Patterns in Labor Force Participation

118

(1)

The Decision to Work

119

(5)

Participation and Changes in the Market Wage Rate

121

(1)

Participation and Changes in Nonlabor Income

122

(2)

A Household Model of Labor Supply

124

(6)

The Division of Labor by Gender

127

(1)

The Convergence in Participation Rates

128

(1)

Time Allocation: An Extension to the Household Model

129

(1)

Changes in Participation over Time

130

(20)

The Decline in Male Participation Rates

131

(7)

The Increase in Female Participation Rates

138

(10)

In the News Exit the Baby Boomers: Good News and Bad News for the Baby Busters

148

(2)

A Bargaining Model of Family Labor Supply

150

(13)

Policy Application 3-1 The Earned Income Tax Credit: A Way to Help the Poor and Encourage Labor Force Participation?

153

(3)

Policy Application 3-2 Labor Force Growth during Recessions

156

(3)

Empirical Evidence 3-1 Age/Participation Profiles

159

(4)

Summary

163

(1)

Review Questions

163

(9)

Appendix 3A The Allocation of Time to Market Work, Home Work, and Leisure: A Graphic Exposition

165

(5)

Appendix 3B Constrained Optimization and the Participation Decision

170

(2)

The Demand for Labor in the Short Run

172

(47)

The Pattern of Employment

173

(1)

The Marginal Productivity Theory of Labor Demand

174

(17)

The Model

175

(5)

The Short-Run Demand Curve for Labor

180

(4)

The Market Demand Curve for Labor

184

(1)

Criticisms of the Theory of Labor Demand

185

(1)

In the News Rise in Benefit Costs Leads to Job Growth Slowdown

186

(5)

The Elasticity of Demand for Labor

191

(6)

Special Relationships

193

(2)

Estimates of the Elasticity of Labor Demand

195

(2)

The Relationship between Product Demand and Labor Demand

197

(19)

The Demand for Labor over the Business Cycle

197

(3)

In the News Worries about Middle Class Jobs and Upward Economic Mobility

200

(4)

Consumer Expenditure Patterns and the Demand for Labor

204

(1)

Policy Application 4-1 Wage Subsidy Programs

205

(4)

Policy Application 4-2 Globalization and the Demand for Labor

209

(5)

Empirical Evidence 4-1 The Motivation behind Union Wage Concessions

214

(2)

Summary

216

(1)

Review Questions

216

(3)

Appendix 4A The Short-Run Equilibrium Level of Employment

218

(1)

The Demand for Labor in the Long Run

219

(41)

The Pattern of Capital/Labor Substitution

219

(2)

The Theory of Labor Demand in the Long Run

221

(11)

The Technology of Production: Isoquants

221

(3)

Factor Prices: Isocost Lines

224

(2)

The Equilibrium Level of Employment

226

(2)

A Change in the Wage Rate

228

(2)

The Long-Run Demand Curve for Labor

230

(2)

The Determinants of the Elasticity of Labor Demand

232

(4)

Demand for the Final Product

232

(1)

The Share of Labor in Total Cost

233

(1)

Substitutability of Other Factor Inputs

234

(2)

The Elasticity of Supply of Other Factor Inputs

236

(1)

Technological Change and Labor Demand

236

(9)

The Displacement of Labor by Technological Change

237

(2)

Technological Change and Product Demand

239

(1)

The Combined Effect

240

(2)

In the News How American Manufacturers Survive the Low-Wage Global Challenge

242

(3)

Productivity Growth and the Demand for Labor

245

(10)

Policy Application 5-1 Employment Forecasting

246

(4)

Policy Application 5-2 Displaced Workers

250

(2)

Empirical Evidence 5-1 Productivity Growth and Employment in Agriculture and Telephone Communication

252

(3)

Summary

255

(1)

Review Questions

255

(5)

Appendix 5A The Long-Run Equilibrium Level of Employment

257

(3)

The Determination of Wages

260

(66)

The Pattern of Wages

260

(3)

Wage Determination in Competitive Markets

263

(11)

The Law of One Wage

263

(2)

The Law of One Wage Put to the Test: Secretaries

265

(2)

Market Imperfections

267

(5)

A More Realistic Model

272

(2)

Wage Determination in a Monopsony Market

274

(4)

The Marginal Cost of Labor Schedule

277

(1)

The Equilibrium Level of Wages and Employment

278

(1)

The Process of Market Adjustment

278

(3)

Excess Demand

280

(1)

Excess Supply

280

(1)

Market Adjustment and the Minimum Wage

281

(14)

History of the Minimum Wage

281

(1)

Purpose of the Minimum Wage

282

(1)

The Minimum Wage in a Perfectly Competitive Market

283

(3)

In the News A Living Wage

286

(1)

The Minimum Wage in a Monopsony Market

287

(2)

The Minimum Wage and Efficiency Wage Theory

289

(1)

Research Findings

290

(5)

The Firm's Internal Wage Structure

295

(5)

Segmentation and Dual Labor Market Theory

300

(17)

Primary and Secondary Jobs

301

(1)

Limited Mobility

301

(1)

In the News Are Firms Developing Two-Tier Workforces?

302

(1)

Implications and Evidence

303

(2)

Policy Application 6-1 Job Lock

305

(2)

Empirical Evidence 6-1 Monopsony in Baseball

307

(1)

Empirical Evidence 6-2 Wages of Hospital and Manufacturing Workers

307

(6)

Empirical Evidence 6-3 The Wage Effect of Immigration

313

(4)

Summary

317

(1)

Review Questions

317

(9)

Appendix 6A Data, Reference, and Internet Sources in Labor Economics

319

(7)

Education, Training, and Earnings Differentials: The Theory of Human Capital

326

(61)

The Pattern of Education and Earnings

326

(2)

The Theory of Human Capital

328

(12)

The Investment Decision

329

(4)

The Private and Social Rate of Return

333

(2)

Implications of Human Capital Theory

335

(4)

In the News College Graduates: Too Many or Too Few?

339

(1)

Schooling and the Distribution of Individual Earnings

340

(11)

The Market for Human Capital

340

(5)

The Distribution of Earnings

345

(6)

Human Capital versus Screening

351

(3)

On-the-Job Training

354

(26)

General versus Specific Training

355

(1)

In the News The German Apprenticeship Program: A Model for the United States?

356

(1)

Benefits and Costs of On-the-Job Training

356

(4)

In the News General OJT: When the Employer Pays

360

(1)

Implications of On-the-Job Training

361

(4)

Alternative Explanations

365

(4)

Policy Application 7-1 Interrupted Work Careers and Women's Earnings

369

(4)

Empirical Evidence 7-1 Estimated Rates of Return to Formal Education

373

(1)

Empirical Evidence 7-2 Schooling and Earnings

374

(6)

Summary

380

(1)

Review Questions

381

(6)

Appendix 7A Estimating a Human Capital Earnings Function

382

(5)

Occupational Wage Differentials

387

(60)

The Pattern of Occupational Earnings

387

(3)

Compensating Wage Differentials

390

(24)

Job Attributes

390

(7)

The Hedonic Theory of Compensating Wage Differentials

397

(6)

The Economics of Employee Benefits

403

(7)

In the News Flexible Benefit Plans Grow in Popularity among Both Workers and Employers

410

(4)

Occupational Licensing

414

(5)

Who Is Licensed?

415

(1)

The Benefits and Costs of Licensing

415

(2)

Occupational Licensing as a Source of Monopoly Rents

417

(2)

Occupational Attainment and Earnings of Men and Women

419

(21)

Gender Differences in Occupational Attainment

419

(3)

Reasons for Occupational Segregation

422

(6)

In the News Why More Women Managers and Executives Are Putting Their Careers on Hold

428

(2)

Policy Application 8-1 Government Regulation of Occupational Safety and Health

430

(6)

Empirical Evidence 8-1 Compensation for Reputation

436

(2)

Empirical Evidence 8-2 Occupational Segregation and Male/Female Earnings Differentials

438

(2)

Summary

440

(1)

Review Questions

441

(6)

Appendix 8A Measuring Occupational Segregation---The Duncan Index

442

(5)

Discrimination in the Labor Market

447

(58)

The Pattern of Earnings Differentials by Race and Gender

447

(2)

Theories of Market Discrimination

449

(17)

Personal Prejudice

450

(8)

Market Power

458

(3)

Imperfect Information

461

(4)

In the News The Young and the Beautiful

465

(1)

Discrimination and Life Cycle Earnings

466

(9)

Discrimination in Training

466

(2)

Discrimination in Promotion

468

(6)

Discrimination and Labor Market Choices

474

(1)

The Measurement of Discrimination

475

(5)

The Residual Method

475

(3)

Estimates of Discrimination

478

(1)

Sources of Bias

479

(1)

The Economic Progress of Blacks and Women

480

(7)

Blacks

481

(2)

Women

483

(1)

In the News The ``Mommy Track'': Fair or Unfair to Women?

484

(3)

Government Programs to Combat Discrimination

487

(15)

Federal Legislation

487

(4)

Effectiveness of Antidiscrimination Programs

491

(1)

In the News Discrimination and Sexual Orientation: The United Kingdom and United States Take Different Paths

492

(3)

Policy Application 9-1 Comparable Worth

495

(3)

In the News Canada's Experience with Comparable Worth

498

(2)

Empirical Evidence 9-1 Discrimination in Full-Time Compensation

500

(2)

Summary

502

(1)

Review Questions

502

(3)

Appendix 9A The Measurement of Discrimination

504

(1)

The Economics of Human Resource Management

505

(53)

The Pattern of HRM Practice

505

(1)

The Economic Basis of the Employment Relationship

506

(5)

The Firm's Demand for HRM Services

511

(7)

In the News Make or Buy HRM Services?

512

(5)

The Equilibrium Level of Several HRM Inputs

517

(1)

Strategic HRM

517

(1)

Issues in Employee Selection

518

(7)

The Employee Selection Process

519

(1)

Employee Selection: An Economic Model

520

(5)

Issues in Compensation Management

525

(9)

Pay Level

526

(4)

Pay Form

530

(4)

Issues in Employee Involvement and Participation

534

(21)

Direct Forms of Employee Participation

536

(1)

Indirect Forms of Employee Participation

537

(1)

The Benefits of EIP

538

(2)

The Costs of EIP

540

(2)

The Equilibrium Level of EIP

542

(1)

Policy Application 10-1 The Employee Participation/Representation Gap: How Large Is It and How Do We Solve It?

542

(6)

Empirical Evidence 10-1 The Configuration of Alternative Employment and HRM Systems

548

(3)

Empirical Evidence 10-2 The Link between HRM Practices and Firm Performance

551

(1)

Empirical Evidence 10-3 Executive Compensation: Pay for Performance or Skimming the Cream?

552

(3)

Summary

555

(1)

Review Questions

556

(2)

Union Membership and Collective Bargaining

558

(68)

The Pattern of Union Membership

558

(2)

The Origins of Labor Unions

560

(4)

The Divorce of Capital and Labor

560

(1)

Employers and Workers: Adversaries or Partners?

561

(2)

Individual Action versus Collective Action

563

(1)

The Determinants of Union Membership: A Demand and Supply Model

564

(32)

The Demand for Union Services

565

(5)

In the News The Jungle---One Hundred Years Later

570

(2)

The Supply Curve of Union Services

572

(3)

The Equilibrium Level of Union Membership

575

(1)

Union Membership over Time

576

(5)

The Union--Management Bargaining Process

581

(2)

A Model of the Bargaining Process

583

(5)

Bargaining Power

588

(2)

Outcomes of the Bargaining Process

590

(6)

Alternative Methods of Dispute Resolution

596

(18)

Mediation

596

(1)

Fact-Finding

597

(1)

Arbitration

597

(2)

Policy Application 11-1 The Legal Framework of Collective Bargaining

599

(5)

Empirical Evidence 11-1 Who Belongs to Unions

604

(5)

Empirical Evidence 11-2 The Pattern of Strike Activity

609

(3)

In the News Factors behind the Drop in Strikes

612

(2)

Summary

614

(1)

Review Questions

615

(11)

Appendix 11A A Comparison of Monopoly, Efficient Contract, and Median Voter Models of Union Wage Determination

616

(10)

The Economic Impact of Unions

626

(40)

Do Unions Raise Wages?

626

(2)

Measuring the Union-Nonunion Wage Differential

628

(4)

The Problem of Other Things Equal

628

(2)

The Problem of Mutual Interdependence

630

(2)

Five Dimensions of the Union Wage Effect

632

(13)

Percentage of the Workforce Organized

632

(2)

The Union Wage Effect over Time

634

(3)

The Union Wage Effect and the Structure of the Product Market

637

(3)

In the News German Unions Feeling the Pain of Economic Integration

640

(1)

Unions and Wage Inequality

641

(2)

The Union Wage Effect in the Public Sector

643

(2)

The Union Effect on Nonwage Outcomes

645

(14)

Unions and Employee Benefits

645

(1)

In the News The Crisis in Union Health and Pension Programs

646

(2)

Unions and Productivity

648

(3)

Unions and Profits

651

(1)

Policy Application 12-1 The Davis-Bacon Act

652

(1)

Empirical Evidence 12-1 Estimates of the Union Wage Effect

653

(6)

Summary

659

(1)

Review Questions

660

(6)

Appendix 12A Estimating Union-Nonunion Wage Differentials

661

(5)

Unemployment

666

(47)

The Pattern of Unemployment

666

(1)

Why Worry about the Unemployment Rate?

667

(2)

The Measurement of Unemployment

669

(3)

Types of Unemployment

672

(8)

Frictional Unemployment

672

(2)

Structural Unemployment

674

(1)

Cyclical Unemployment

675

(1)

Distinguishing between Types of Unemployment

675

(1)

In the News How Many Jobs Are Enough to Keep Unemployment in Check?

676

(4)

Causes of Unemployment

680

(12)

Job Search

680

(6)

Rigid Wages

686

(4)

Efficiency Wages

690

(2)

The Composition of Unemployment

692

(14)

Unemployment Flows

694

(1)

Two Sources of High Unemployment Rates

695

(3)

Policy Application 13-1 Government Employment and Training Programs

698

(2)

In the News If You Pay, They Will Come . . . Maybe

700

(3)

Empirical Evidence 13-1 The Beveridge Curve in the United States

703

(3)

Summary

706

(1)

Review Questions

707

(6)

Appendix 13A International Unemployment Statistics

708

(5)

Glossary

713

(10)

Name Index

723

(10)

Subject Index

733

Amazon no longer offers textbook rentals. We do!

The Economics Of Labor Markets with Infotrac

The Economics Of Labor Markets with Infotrac

9780324288797

0324288794

Summary

Table of Contents

Supplemental Materials

Write a Review

Amazon no longer offers textbook rentals. We do!

The Economics Of Labor Markets with Infotrac

The Economics Of Labor Markets with Infotrac

9780324288797

0324288794

Summary

Table of Contents

Supplemental Materials

Write a Review

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