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Originally published in 1971, this wide-ranging study illuminates many crucial wage and employment issues by examining the operation of local labour markets and by testing labour market theory against the observed behaviour of employers and employees in different labour market environments. It is based on an empirical investigation of engineering plants both in major conurbations and in smaller labour market areas. There is an emphasis on measurement and quantification, which provides a fund of information on such subjects as wage structures, labour turnover, recruitment and mobility, internal labour markets, manpower forecasting, apprentice training and redundancy. The authors outline the weaknesses of applying economic theory to labour market behaviour.
Labour market institutions, including collective bargaining, the regulation of employment contracts and social protection policies, are instrumental for improving the well-being of workers, their families and society. In many countries, these instituti
This book serves as a textbook on labour economics and public policy in labour markets.It also shows how Singapore has been successful in establishing a world class labour market. One attribute of such a labour market is the high purchasing power of wages for the average worker for essentials such as housing, healthcare, quality education for children and retirement consumption, which motivates Singaporeans to work hard. The second attribute is a macro-focused labour union that works closely with the government, and is able to prevent excessive wage increase.
Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.
As the outcome of the third international conference of political economy, the papers in this volume cover a range of topics, related to the conference theme of “labor markets and employment,” from globalization to migration, unionization to policy implementation, and women’s labor to child labor and ethnic issues in employment. Despite the wide range they come from, almost all papers draw attention to the radical changes in employment policies and practices around the world, and many of them point to global neoliberalism as the source of this transformation process, one way or another. We believe that revealing the dynamics of this process and putting forward possible alternative policies and practices across the world would provide signicant contribution to solving the problems of labor markets and employment, as the papers in this collection attempt to do.
Focusing on the perspectives of policy-makers, the book's purpose is to closely examine the factors that make for successful/unsuccessful labor market related policy reforms. The aim is to reveal the political aspects, namely the chances, challenges and impediments to designing labor market reforms and to establish the conditions under which successful labor market reforms can be advocated, adopted and implemented (process). The work includes exclusive interviews with twelve former European prime ministers about the labour market reforms they initiated in their respective countries: Wolfgang Schüssel Anders Fogh Rasmussen Andrus Ansip François Fillon Gerhard Schröder Georgios Papandreou Mario Monti Jan Peter Balkenende Jerzy Buzek Iveta Radicová Luis Rodríguez Zapatero Tony Blair
The 13 volumes in this set, originally published between 1920 and 1991, draw together research by leading academics in the area of labour economics and provides a rigorous examination of related key issues. The volumes examine housing and labour markets, labour supply, and labour migration. This set will be of particular interest to students of Economics and Business Studies.