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Annotation The Handbook brings together a systematic review of the research topics, empirical findings, and methods that comprise modern labor economics. It serves as an introduction to what has been done in this field, while at the same time indicating possible future trends which will be important in both spheres of public and private decision-making. Part 1 is concerned with the classic topics of labor supply and demand, the size and nature of the elasticities between the two, and their impact on the wage structure. This analysis touches on two fundamental questions: what are the sources of income inequality, and what are the disincentive effects of attempts to produce a more equal income distribution? The papers in Part II proceed from the common observation that the dissimilarity in worker skills and employer demands often tempers the outcomes that would be expected in frictionless labor markets. And the last section of the Handbook deals explicitly with the role of institutional structures (e.g. trade unions) that now form an important part of modern labor economics.
The Regulatory Process and Labor Earnings focuses on one form of government intervention in the marketplace—state regulation of public utilities. This book provides the most comprehensive study of labor costs in a regulated industry and includes a summary of a major econometric study. This text addresses a number of related issues, such as the effect of regulatory process to the structure of collective bargaining and labor earnings in regulated industries, legal rights of state utility commissions to deny proposed rate increases that are based on excessive upturns in labor cost, and incentive schemes that can be used to encourage public utilities to hold down labor and non-labor cost increases. This publication is a good reference for students and individuals involved in the regulatory process.
The aim of this book is to answer from an economics viewpoint such questions as why some people go to college while others do not, and why the percentages of different types of students going to college have changed so dramatically throughout the world over the past few decades. The information contained is up-to-date, but the contents will be accessible even to those without a major in economics. The author makes many original contributions to the field of economics of education, in particular by giving serious consideration to cases of capital market imperfection. The book is written so that the reader can gain a multi-dimensional and comprehensive understanding of major issues related to college-going behavior. While specialists of this field will find it indispensable, economics students up to postgraduate level can use this volume as a textbook on the economics of education or on applied microeconomics.
Advanced Lectures in Quantitative Economics summarizes some of the efforts of a second-phase program for first-rate candidates with a Master's degree in economics who wish to continue with a doctoral degree in quantitative economics. This book is organized into three main topics—macroeconomics, microeconomics, and econometrics. This text specifically discusses the Neo-Keynesian macroeconomics in an open economy, international coordination of monetary policies under alternative exchange-rate regimes, and prospects for global trade imbalances. The post-war developments in labor economics, introduction to overlapping generation models, and measurement of expectations and direct tests of the REH are also elaborated. This monograph likewise covers the dynamic econometric modeling of decisions under uncertainty and fundamental bordered matrix of linear estimation. This publication is a good reference for students and specialists interested in quantitative economics.
Presents the political, economic, and demographic factors that interact to produce and perpetuate increasing college price barriers.
This paper discusses the use of hedonic techniques to theoretically and empirically understand the wages of higher education faculty. The paper first presents theoretical models of department and faculty choice. These models represent a synthesis of prior work in the hedonic area. The models imply a hedonic wage equation for faculty with wages dependent on productivity, departmental amenities and locational amenities. The theoretical discussion is followed by exploratory and illustrative empirical work. In summary, the reported regressions show that increased teaching loads and secretaries per faculty member tend to decrease salaries while increasing referred journal articles, hotter than average summers, colder than average winters and a Ph.D. program tend to increase professor's salaries.