Modern Labor Economics: Theory and Public Policy
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The best-selling Modern Labor Economics provides a clear, comprehensive introduction to labor-market behavior. In addition to presenting core theory, Ehrenberg and Smith provide empirical evidence for or against each hypothesis, explore the usefulness of various theories for public policy analysis, and include detailed policy examples in each chapter.Introduction; Overview of the Labor Market; The Demand for Labor; Labor Demand Elasticities; Frictions in the Labor Market; Supply of Labor to the Economy: The Decision to Work; Labor Supply: Household Production, the Family, and the Life Cycle; Compensating Wage Differentials and Labor Markets; Investments in Human Capital: Education and Training; Worker Mobility: Migration, Immigration, and Turnover; Pay and Productivity: Wage Determination Within the Firm; Gender, Race, and Ethnicity in the Labor Market; Unions and the Labor Market; Unemployment; Inequality in Earnings; The Labor Market Effects of International Trade and Production Sharing. For all readers interested in labor economics. Booknews A textbook designed for a one-semester or one-quarter course at the undergraduate or graduate level for students who may not have extensive backgrounds in economics. It develops the modern theory of labor market behavior, summarizes empirical evidence that supports or contradicts each hypothesis, and illustrates in detail the usefulness of the theory for public policy analysis. This revised and updated edition also adds a new chapter on earnings inequality. Annotation c. Book News, Inc., Portland, OR (booknews.com)
PrefaceCh. 1Introduction1Ch. 2Overview of the Labor Market25Ch. 3The Demand for Labor60Ch. 4Labor Demand Elasticities101Ch. 5Quasi-Fixed Labor Costs and their Effects on Demand140Ch. 6Supply of Labor to the Economy: The Decision to Work174Ch. 7Labor Supply: Household Production, the Family, and the Life Cycle219Ch. 8Compensating Wage Differentials and Labor Markets247Ch. 9Investments in Human Capital: Education and Training286Ch. 10Worker Mobility: Migration, Immigration and Turnover338Ch. 11Pay and Productivity375Ch. 12Gender, Race, and Ethnicity in the Labor Market413Ch. 13Unions and the Labor Market472Ch. 14Inequality in Earnings524Ch. 15Unemployment562Answers to Odd-Numbered Review Questions598Name Index623Subject Index632
