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Labor Economics - Pierre Cahuc


Published: 1st March 2004
For Ages: 18+ years old
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This landmark graduate-level text combines depth and breadth of coverage with recent, cutting-edge work in all the major areas of modern labor economics. "Labor Economics" is the only textbook available for advanced graduate students in the field, and it will be widely used; because of its command of the literature and the freshness of the material included, it will also prove to be a valuable resource for practicing labor economists. The book moves back and forth between factual data and theoretical reasoning. The space devoted to theory reflects the profound theoretical restructuring in the field that has taken place in the last thirty years; the authors present these developments within a unified pedagogic framework. The teaching methods are based on mathematical models, with the mathematical analyses laid out clearly, and the derivation of most results given in five mathematical appendixes that provide a toolkit for understanding the models. The book is divided into four parts: "Supply and Demand Behaviors" examines the determinants of labor supply and demand; "Wage Formation" discusses wage determinants, including the influences of the wage policies of firms and collective bargaining; "Unemployment and Inequality" considers these problems in a macroeconomic setting; and "Institutions and Economic Policy" treats labor market policies and the impact of institutions on labor market performance.

"This book is an impressive achievement. It offers a uniquely comprehensive, technically in-depth, and up-to-date treatment of modern labor economics suitable for graduate teaching." - David H. Autor, Department of Economics, MIT"

Introductionp. xxiii
Acknowledgmentsp. xxxv
Supply and Demand Behaviorsp. 1
Labor Supplyp. 3
The Neoclassical Theory of Labor Supplyp. 5
Empirical Aspects of Labor Supplyp. 27
Summary and Conclusionp. 51
Related Topics in the Bookp. 52
Further Readingsp. 52
Appendicesp. 53
Education and Human Capitalp. 59
Some Factsp. 61
The Theory of Human Capitalp. 69
Education as a Signaling Devicep. 79
Evaluations of the Returns to Educationp. 85
Summary and Conclusionp. 102
Related Topics in the Bookp. 103
Further Readingsp. 103
Job Searchp. 107
Basic Job Search Theoryp. 109
The Equilibrium Search Model and the Theory of Optimal Unemployment Insurancep. 125
Empirical Aspects of Job Searchp. 146
Summary and Conclusionp. 164
Related Topics in the Bookp. 165
Further Readingsp. 166
Appendix: The Discounted Cost of an Unemployed Personp. 166
Labor Demandp. 171
The Static Theory of Labor Demandp. 173
From Theory to Estimatesp. 205
Labor Demand and Adjustment Costsp. 212
Summary and Conclusionp. 232
Related Topics in the Bookp. 233
Further Readingsp. 234
Appendicesp. 234
Wage Formationp. 243
Compensating Wage Differentials and Discriminationp. 245
Perfect Competition and Compensating Wage Differentialsp. 248
Obstacles to Perfect Competition (1): Barriers to Entryp. 257
Obstacles to Perfect Competition (2): Imperfect Informationp. 265
What Empirical Studies Tell Usp. 276
Summary and Conclusionp. 298
Related Topics in the Bookp. 299
Further Readingsp. 299
Contracts, Risk-Sharing, and Incentivep. 305
The Labor Contractp. 307
Risk-Sharingp. 309
Incentive in the Presence of Verifiable Resultsp. 322
Incentive in the Absence of Verifiable Resultsp. 333
Summary and Conclusionp. 360
Related Topics in the Bookp. 361
Further Readingsp. 361
Collective Bargainingp. 369
Unions and Collective Bargainingp. 371
Bargaining Theoryp. 380
Standard Models of Collective Bargainingp. 393
Insiders and Outsidersp. 405
Investment and Hoursp. 411
Empirical Evidence Regarding the Consequences of Collective Bargainingp. 419
Summary and Conclusionp. 429
Related Topics in the Bookp. 431
Further Readingsp. 431
Appendicesp. 431
Unemployment and Inequalityp. 441
Unemployment and Inflationp. 443
Some Factsp. 445
From the Classical Model to the Keynesian Viewp. 454
Nominal Rigidities: The Critiques of Friedman and Lucasp. 471
Real Rigidities: Hysteresis and the Wage Curvep. 476
Estimates of the NAIRU and Wage Equationsp. 485
Summary and Conclusionp. 491
Related Topics in the Bookp. 493
Further Readingsp. 493
Appendicesp. 493
Job Reallocation and Unemploymentp. 503
Job Flows and Worker Flowsp. 505
The Competitive Model with Job Reallocationp. 514
The Matching Modelp. 517
Investment and Employmentp. 537
Out-of-Stationary-State Dynamicsp. 545
The Efficiency of Market Equilibriump. 550
Summary and Conclusionp. 557
Related Topics in the Bookp. 558
Further Readingsp. 558
Technological Progress, Globalization, and Inequalitiesp. 563
Does Technological Progress Destroy More Jobs Than It Creates?p. 565
Globalization, Inequality, and Unemploymentp. 582
Summary and Conclusionp. 625
Related Topics in the Bookp. 626
Further Readingsp. 626
Appendixp. 626
Institutions and Economic Policyp. 633
Labor Market Policiesp. 635
Labor Market Policies: An International Perspectivep. 636
Active Policies: Theoretical Analysisp. 644
The Evaluation of Active Labor Market Policiesp. 668
The Macroeconomic Effects of Unemployment Benefitsp. 687
Conclusion and Summaryp. 704
Related Topics in the Bookp. 707
Further Readingsp. 707
Institutions and Labor Market Performancep. 713
The Minimum Wagep. 715
Employment Protectionp. 734
Taxationp. 751
The Level at Which Wage Bargaining Takes Placep. 768
Macroeconomic Assessments of Institutionsp. 777
Summary and Conclusionp. 783
Related Topics in the Bookp. 784
Further Readingsp. 785
Mathematical Appendicesp. 791
Appendix A: Static Optimizationp. 791
Unconstrained and Constrained Maximump. 791
The Technique of the Lagrangianp. 792
The Interpretation of the Lagrange Multipliersp. 793
Summary and Practical Guide to Static Optimizationp. 793
Appendix B: Dynamic Optimizationp. 794
The Optimal Control Problemp. 794
The First-Order Conditionsp. 795
Infinite Horizonp. 796
Calculus of Variations and the Euler Equationp. 796
Summary and Practical Guide to Optimal Controlp. 797
Appendix C: Basic Notions Concerning Random Variablesp. 798
Random Variables and Probability Densitiesp. 798
Independence and Correlationp. 799
The Probability Distributions Utilized in This Bookp. 800
Appendix D: The Poisson Process and the Value of an Assetp. 801
The Poisson Processp. 801
Evolution of the Value of an Assetp. 802
An Alternative Proofp. 803
Appendix E: Systems of Linear Difference Equationsp. 803
A Particular Solutionp. 804
The General Solutionp. 804
Stabilityp. 806
A Useful Form for the Stability Conditionsp. 807
The Phase Diagramp. 808
User Guide for the Study of Two-Dimensional Linear Systemsp. 809
Notesp. 811
Name Indexp. 823
Subject Indexp. 831
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9780262033169
ISBN-10: 026203316X
Audience: Tertiary; University or College
For Ages: 18+ years old
Format: Hardcover
Language: English
Number Of Pages: 880
Published: 1st March 2004
Publisher: MIT Press Ltd
Country of Publication: US
Dimensions (cm): 22.9 x 20.3  x 3.8
Weight (kg): 1.59