The Economics of Labor Markets

Widely regarded as the best, most comprehensive text available for the in-depth study of labour market theories, this textbook calls upon excellent pedagogical elements, current events, and recent empirical research to introduce students to labour economics. The author's balanced approach to the material enables students to gain an understanding of the background of the field as they explore its latest developments and unique topics not covered in most competing texts. Features: * Labor market theory is consistently placed in the real world throughout the book with applications to current public policy issues. Ample illustrations use empirical examples and evidence, and current events from recent magazine or newspaper articles. * A number of unique topics not covered in competing labor texts are examined, including technological change and labor demand, two-tier wage systems, discrimination in promotion, the firm's internal wage structure, bargaining theories of household labor supply, and the generation of the wage/price spiral. * The author presents a balanced and well rounded look at labor market theory, providing it with a framework in which it is possible to distinguish between the two major schools of thought in labor economics: the neoclassical school and the institutional school. * Each chapter begins with a brief look at the empirical facts concerning the particular subject covered. "In the News" boxes provide high-interest examples of labor market theory in action. "Policy Applications" and "Applications" sections provide further applications of theory to public policy issues and current events topics. Excellent appendices offer detailed information on linear regression theory, data and reference sources, and international labor statistics. * Completely updated statistics and research ensure a current view of the issues and concepts of today's labor markets.