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| Author | : George A. Akerlof |
| Publisher | : Cambridge University Press |
| Total Pages | : 196 |
| Release | : 1986-11-28 |
| Genre | : Business & Economics |
| ISBN | : 9780521312844 |
The contributors explore the reasons why involuntary unemployment happens when supply equals demand.
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 270 |
| Release | : 2019-11-18 |
| Genre | : |
| ISBN | : 9264362576 |
Collective bargaining and workers’ voice are often discussed in the past rather than in the future tense, but can they play a role in the context of a rapidly changing world of work? This report provides a comprehensive assessment of the functioning of collective bargaining systems and workers’ voice arrangements across OECD countries, and new insights on their effect on labour market performance today.
| Author | : Toke Aidt |
| Publisher | : Directions in Development |
| Total Pages | : 188 |
| Release | : 2002 |
| Genre | : Business & Economics |
| ISBN | : |
This book offers an extensive survey and synthesis of the economic literature on trade unions and collective bargaining and their impact on micro-and macro-economic outcomes. The authors demonstrate the effects of collective bargaining in different country settings and time periods. A comprehensive reference, this book will be of interest to students and scholars of labor policy as well as to policy makers and anyone with an interest in the economic consequences of unionism.
| Author | : Peter Diamond |
| Publisher | : Princeton University Press |
| Total Pages | : 331 |
| Release | : 2012-01-12 |
| Genre | : Business & Economics |
| ISBN | : 1400829143 |
In the last decade, behavioral economics, borrowing from psychology and sociology to explain decisions inconsistent with traditional economics, has revolutionized the way economists view the world. But despite this general success, behavioral thinking has fundamentally transformed only one field of applied economics-finance. Peter Diamond and Hannu Vartiainen's Behavioral Economics and Its Applications argues that behavioral economics can have a similar impact in other fields of economics. In this volume, some of the world's leading thinkers in behavioral economics and general economic theory make the case for a much greater use of behavioral ideas in six fields where these ideas have already proved useful but have not yet been fully incorporated--public economics, development, law and economics, health, wage determination, and organizational economics. The result is an attempt to set the agenda of an important development in economics--an agenda that will interest policymakers, sociologists, and psychologists as well as economists. Contributors include Ian Ayres, B. Douglas Bernheim, Truman F. Bewley, Colin F. Camerer, Anne Case, Michael D. Cohen, Peter Diamond, Christoph Engel, Richard G. Frank, Jacob Glazer, Seppo Honkapohja, Christine Jolls, Botond Koszegi, Ulrike Malmendier, Sendhil Mullainathan, Antonio Rangel, Emmanuel Saez, Eldar Shafir, Sir Nicholas Stern, Jean Tirole, Hannu Vartiainen, and Timothy D. Wilson.
| Author | : Edward P. Lazear |
| Publisher | : University of Chicago Press |
| Total Pages | : 473 |
| Release | : 2009-05-15 |
| Genre | : Business & Economics |
| ISBN | : 0226470512 |
The distribution of income, the rate of pay raises, and the mobility of employees is crucial to understanding labor economics. Although research abounds on the distribution of wages across individuals in the economy, wage differentials within firms remain a mystery to economists. The first effort to examine linked employer-employee data across countries, The Structure of Wages:An International Comparison analyzes labor trends and their institutional background in the United States and eight European countries. A distinguished team of contributors reveal how a rising wage variance rewards star employees at a higher rate than ever before, how talent becomes concentrated in a few firms over time, and how outside market conditions affect wages in the twenty-first century. From a comparative perspective that examines wage and income differences within and between countries such as Denmark, Italy, and the Netherlands, this volume will be required reading for economists and those working in industrial organization.
| Author | : Alan Manning |
| Publisher | : Princeton University Press |
| Total Pages | : 414 |
| Release | : 2013-12-03 |
| Genre | : Business & Economics |
| ISBN | : 1400850673 |
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.
| Author | : David G. Blanchflower |
| Publisher | : MIT Press |
| Total Pages | : 504 |
| Release | : 1994 |
| Genre | : Business & Economics |
| ISBN | : 9780262023757 |
The Wage Curve casts doubt on some of the most important ideas in macroeconomics, labor economics, and regional economics. According to macroeconomic orthodoxy, there is a relationship between unemployment and the rate of change of wages. According to orthodoxy in labor economics and regional economics an area's wage is positively related to the amount of joblessness in the area. The Wage Curve suggests that both these beliefs are incorrect. Blanchflower and Oswald argue that the stable relationship is a downward-sloping convex curve linking local unemployment and the level of pay. Their study, one of the most intensive in the history of social science, is based on random samples that provide computerized information on nearly four million people from sixteen countries. Throughout, the authors systematically present evidence and possible explanations for their empirical law of economics.
| Author | : Engelbert J. Dockner |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 434 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642576842 |
This book includes a collection of articles that present recent developments in the fields of optimization and dynamic game theory, economic dynamics, dynamic theory of the firm, and population dynamics and non standard applications of optimal control theory. The authors of the articles are well respected authorities in their fields and are known for their high quality research in the fields of optimization and economic dynamics.
| Author | : Engelbert Stockhammer |
| Publisher | : Springer |
| Total Pages | : 329 |
| Release | : 2013-12-03 |
| Genre | : Business & Economics |
| ISBN | : 1137357932 |
This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
| Author | : Christopher J. Flinn |
| Publisher | : MIT Press |
| Total Pages | : 321 |
| Release | : 2011-02-04 |
| Genre | : Business & Economics |
| ISBN | : 0262288761 |
The introduction of a search and bargaining model to assess the welfare effects of minimum wage changes and to determine an “optimal” minimum wage. In The Minimum Wage and Labor Market Outcomes, Christopher Flinn argues that in assessing the effects of the minimum wage (in the United States and elsewhere), a behavioral framework is invaluable for guiding empirical work and the interpretation of results. Flinn develops a job search and wage bargaining model that is capable of generating labor market outcomes consistent with observed wage and unemployment duration distributions, and also can account for observed changes in employment rates and wages after a minimum wage change. Flinn uses previous studies from the minimum wage literature to demonstrate how his model can be used to rationalize and synthesize the diverse results found in widely varying institutional contexts. He also shows how observed wage distributions from before and after a minimum wage change can be used to determine if the change was welfare-improving. More ambitiously, and perhaps controversially, Flinn proposes the construction and formal estimation of the model using commonly available data; model estimates then enable the researcher to determine directly the welfare effects of observed minimum wage changes. This model can be used to conduct counterfactual policy experiments—even to determine “optimal” minimum wages under a variety of welfare metrics. The development of the model and the econometric theory underlying its estimation are carefully presented so as to enable readers unfamiliar with the econometrics of point process models and dynamic optimization in continuous time to follow the arguments. Although most of the book focuses on the case where only the unemployed search for jobs in a homogeneous labor market environment, later chapters introduce on-the-job search into the model, and explore its implications for minimum wage policy. The book also contains a chapter describing how individual heterogeneity can be introduced into the search, matching, and bargaining framework.
