Download or read book Wage Structure with Moral Hazard in Job Search written by Kit-Chun Lam and published by . This book was released on 1989 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Efficiency Wage Models of the Labor Market written by George A. Akerlof and published by Cambridge University Press. This book was released on 1986-11-28 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributors explore the reasons why involuntary unemployment happens when supply equals demand.

Download or read book Moral Hazard in Health Insurance written by Amy Finkelstein and published by Columbia University Press. This book was released on 2014-12-02 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the challenge of covering heath care expenses—while minimizing economic risks. Moral hazard—the tendency to change behavior when the cost of that behavior will be borne by others—is a particularly tricky question when considering health care. Kenneth J. Arrow’s seminal 1963 paper on this topic (included in this volume) was one of the first to explore the implication of moral hazard for health care, and Amy Finkelstein—recognized as one of the world’s foremost experts on the topic—here examines this issue in the context of contemporary American health care policy. Drawing on research from both the original RAND Health Insurance Experiment and her own research, including a 2008 Health Insurance Experiment in Oregon, Finkelstein presents compelling evidence that health insurance does indeed affect medical spending and encourages policy solutions that acknowledge and account for this. The volume also features commentaries and insights from other renowned economists, including an introduction by Joseph P. Newhouse that provides context for the discussion, a commentary from Jonathan Gruber that considers provider-side moral hazard, and reflections from Joseph E. Stiglitz and Kenneth J. Arrow. “Reads like a fireside chat among a group of distinguished, articulate health economists.” —Choice

Download or read book Handbook of Labor Economics written by Orley Ashenfelter and published by Elsevier. This book was released on 2010-10-28 with total page 862 pages. Available in PDF, EPUB and Kindle. Book excerpt: What new tools and models are enriching labor economics?Developments in Research Methods and their Application, Volume 4A summarizes recent advances in the ways economists study wages, employment, and labor markets. Mixing conceptual models and empirical work, contributors cover subjects as diverse as field and laboratory experiments, program evaluation, and behavioral models. The combinations of these improved empirical findings with new models reveal how labor economists are developing new and innovative ways to measure key parameters and test important hypotheses. - Investigates recent advances in methods and models used in labor economics - Demonstrates what these new tools and techniques can accomplish - Documents how conceptual models and empirical work explain important practical issues

Download or read book Institutional Structure and Labor Market Outcomes written by Mr.Robert J. Flanagan and published by International Monetary Fund. This book was released on 1995-07-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changes in economic systems provide a rare opportunity to redesign basic institutional structures in labor markets. This paper attempts to provide guidance for such institutional choice by drawing on the findings of recent labor market research in market economies on the links between institutional structure and labor market performance. After considering the suitability of research from market economies for the labor market problems faced by economies in transition from central planning, the paper considers the effects of alternative institutions for wage determination (collective bargaining structures and minimum wage and indexation legislation), employment security, income security, and active labor market policy.

Download or read book Why Wages Don t Fall during a Recession written by Truman F. BEWLEY and published by Harvard University Press. This book was released on 2009-06-30 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt: A deep question in economics is why wages and salaries don't fall during recessions. This is not true of other prices, which adjust relatively quickly to reflect changes in demand and supply. Although economists have posited many theories to account for wage rigidity, none is satisfactory. Eschewing "top-down" theorizing, Truman Bewley explored the puzzle by interviewing--during the recession of the early 1990s--over three hundred business executives and labor leaders as well as professional recruiters and advisors to the unemployed. By taking this approach, gaining the confidence of his interlocutors and asking them detailed questions in a nonstructured way, he was able to uncover empirically the circumstances that give rise to wage rigidity. He found that the executives were averse to cutting wages of either current employees or new hires, even during the economic downturn when demand for their products fell sharply. They believed that cutting wages would hurt morale, which they felt was critical in gaining the cooperation of their employees and in convincing them to internalize the managers' objectives for the company. Bewley's findings contradict most theories of wage rigidity and provide fascinating insights into the problems businesses face that prevent labor markets from clearing. Table of Contents: Acknowledgments 1. Introduction 2. Methods 3. Time and Location 4. Morale 5. Company Risk Aversion 6. Internal Pay Structure 7. External Pay Structure 8. The Shirking Theory 9. The Pay of New Hires in the Primary Sector 10. Raises 11. Resistance to Pay Reduction 12. Experiences with Pay Reduction 13. Layoffs 14. Severance Benefits 15. Hiring 16. Voluntary Turnover 17. The Secondary Sector 18. The Unemployed 19. Information, Wage Rigidity, and Labor Negotiations 20. Existing Theories 21. Remarks on Theory 22. Whereto from Here? Notes References Index Reviews of this book: In Why Wages Don't Fall During A Recession, [Truman Bewley] tackles one of the oldest, and most controversial, puzzles in economics: why nominal wages rarely fall (and real wages do not fall enough) when unemployment is high. But he does so in a novel way, through interviews with over 300 businessmen, union leaders, job recruiters and unemployment counsellors in the north-eastern United States during the early 1990s recession...Mr. Bewley concludes that employers resist pay cuts largely because the savings from lower wages are usually outweighed by the cost of denting workers' morale: pay cuts hit workers' standard of living and lower their self-esteem. Falling morale raises staff turnover and reduces productivity...Mr. Bewley's theory has some interesting implications...[and] has a ring of truth to it. --The Economist Reviews of this book: This contribution to the growing literature on behavioral macroeconomics threatens to disturb the tranquil state of macroeconomic theory that has prevailed in recent years...Bewley's argument will be hard for conventional macroeconomists to ignore, partly because of the extraordinary thoroughness and honesty with which he evidently conducted his investigation, and the sheer volume of evidence he provides...Although Bewley's work will not settle the substantive debates related to wage rigidity, it is likely to have a profound influence on the way macroeconomists construct models. In particular, the concepts of morale, fairness, and money illusion are almost certain to play a big role in macroeconomic theory. His demonstration that there exist in reality simple, robust behavioral patters that cannot plausibly be founded on traditional maximizing behabior also raises the prospect of a more empirically oriented, more behavioral macroeconomics in the future. --Peter Howitt, journal of Economic Literature Reviews of this book: I think any scholar interested in labour markets and wage determination should read this well-written, lively, and highly stimulating book...[It] provides a fresh view and a lot of complementary background knowledge about how experienced people in the field see the employment relationship and what is actually crucial. Knowledge of this sort is all too rare in economics, and Truman Bewley's truly impressive study can serve as a role model for future investigations. --Simon G'chter, Journal of Institutional and Theoretical Economics To call this book a breath of fresh air is an understatement. The direct insights are fascinating, and Truman Bewley's use of them is sharp and insightful. Labor economists and macroeconomists have a lot to think about. --Robert M. Solow, Nobel Laureate, Institute Professor of Economics, Emeritus, Massachusetts Institute of Technology Truman Bewley set out to conduct a handful of interviews with business executives to gain some theoretical inspiration, and his project blossomed into over 300 interviews with business people, labor leaders and consultants. He is truly the accidental interviewer of economics. Time and again, he found that workers behave like people, not atomistic, selfish economic agents. His insights will engage and enrage economic theorists and empiricists for years to come. --Alan Krueger, Bendheim Professor of Economics and Public Affairs, Princeton University

Download or read book Increasing Economic Security for American Workers written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Income Security and Family Support and published by . This book was released on 2008 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Job Matching Wage Dispersion and Unemployment written by Dale T. Mortensen and published by Oxford University Press, USA. This book was released on 2011-04-28 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: A selection of key papers from the winners of the Nobel Memorial Prize 2010. It features their most important work on unemployment, labour market dynamics, and the equilibrium search model.

Download or read book Labor Economics second edition written by Pierre Cahuc and published by MIT Press. This book was released on 2014-08-01 with total page 1081 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new edition of a widely used, comprehensive graduate-level text and professional reference covering all aspects of labor economics, with substantial new material. 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. Its command of the literature and its coverage of the latest theoretical, methodological, and empirical developments make it also a valuable resource for practicing labor economists. This second edition has been substantially updated and augmented. It incorporates examples drawn from many countries, and it presents empirical methods using contributions that have proved to be milestones in labor economics. The data and codes of these research publications, as well as numerous tables and figures describing the functioning of labor markets, are all available on a dedicated website (www.labor-economics.org), along with slides that can be used as course aids and a discussion forum. This edition devotes more space to the analysis of public policy and the levers available to policy makers, with new chapters on such topics as discrimination, globalization, income redistribution, employment protection, and the minimum wage or labor market programs for the unemployed. Theories are explained on the basis of the simplest possible models, which are in turn related to empirical results. Mathematical appendixes provide a toolkit for understanding the models.

Download or read book Unemployment Market Structure and Growth written by Rüdiger Wapler and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his Ph. D. thesis, Rudiger Wapler analyses the causes of the persistently high unemployment rates especially in continental Europe. Particular emphasis is placed on imperfect labour and product markets on the one hand, and on the numerous links between unemployment, innovations and growth on the other. Hence, Rudiger Wapler provides an important contribution towards a better understanding of both the development of labour markets as well as the dynamics of growth. To aid readers with only little prior knowledge of labour markets, the book presents the most common theories of unemployment: (1) trade-union models in which union bargaining power leads to wages above their market-clearing level, (2) efficiency-wage models in which employers voluntarily pay higher wages in order to motivate or discipline their workers or to reduce the job turnover rate, as well as (3) matching models in which unemployment is caused by the continuous turnover of jobs and workers. In addition, emphasis is placed on the fact that labour needs to be treated as heterogeneous, a fact often neg lected in the literature. Subsequently, these labour-market foundations are integrated with modern theories of innovations and growth, making the ap proach much more relevant and plausible. Without doubt, the generalisations of the models performed by Rudiger Wapler show that there are limits to such formal analysis. Due to the increasing number of interdependencies, it is doubtful whether even more complex models provide additional (usable) insights.

Download or read book In from the Shadow written by Truman G. Packard and published by World Bank Publications. This book was released on 2012-07-27 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about people in Europe who earn a living working in untaxed markets for goods, services, and labor. As governments face a rapid population ageing, the circumstances that lead people to work and trade in the shadow economy have grown in importance.

Download or read book Handbook of the Economics of Education written by Eric A. Hanushek and published by Elsevier. This book was released on 2010-11-11 with total page 614 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does education affect economic and social outcomes, and how can it inform public policy?Volume 3 of the Handbooks in the Economics of Education uses newly available high quality data from around the world to address these and other core questions. With the help of new methodological approaches, contributors cover econometric methods and international test score data. They examine the determinants of educational outcomes and issues surrounding teacher salaries and licensure. And reflecting government demands for more evidence-based policies, they take new looks at institutional feaures of school systems. Volume editors Eric A. Hanushek (Stanford), Stephen Machin (University College London) and Ludger Woessmann (Ifo Institute for Economic Research, Munich) draw clear lines between newly emerging research on the economics of education and prior work. In conjunction with Volume 4, they measure our current understanding of educational acquisition and its economic and social effects. - Uses rich data to study issues of high contemporary policy relevance - Demonstrates how education serves as an important determinant of economic and social outcomes - Benefits from the globalization of research in the economics of education

Download or read book The Handbook of Organizational Economics written by Robert Gibbons and published by Princeton University Press. This book was released on 2013 with total page 1248 pages. Available in PDF, EPUB and Kindle. Book excerpt: (E-book available via MyiLibrary) In even the most market-oriented economies, most economic transactions occur not in markets but inside managed organizations, particularly business firms. Organizational economics seeks to understand the nature and workings of such organizations and their impact on economic performance. The Handbook of Organizational Economics surveys the major theories, evidence, and methods used in the field. It displays the breadth of topics in organizational economics, including the roles of individuals and groups in organizations, organizational structures and processes, the boundaries of the firm, contracts between and within firms, and more.

Download or read book From Free to Fair Markets written by Richard Holden and published by Oxford University Press. This book was released on 2022-04-05 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'From Free to Fair Markets' proposes a new vision of liberalism coming out of the COVID-19 pandemic. An accessible articulation of a new economic path for liberal societies, this book addresses problems of economic disadvantage, stagnation, inequality, and climate change, and simultaneously emphasizes the importance of markets in ensuring the efficiency and sustainability of policy solutions. With concrete policies and practical steps, Rosalind Dixon and Richard Holden's proposal for future of liberalism offers a new way to think about economic policy that is fair and capable of responding to the challenges of a post-COVID world.

Download or read book Employment Stability in an Age of Flexibility written by Sandrine Cazes and published by International Labour Organization. This book was released on 2003 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: While offering a comparison of employment stability and flexibility in 16 OECD countries, the book provides a detailed analysis on the type of labor market regulations needed to ensure a balance of employment flexibility and security.

Download or read book Selected Works of Joseph E Stiglitz written by Joseph E. Stiglitz and published by Oxford University Press. This book was released on 2009 with total page 904 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second in a series of six volumes containing a selection of Joseph Stiglitz's most important and widely cited work. Volume I set out the basic concepts underlying the economics of information. Volume II extends these concepts and applies them to a number of different settings in labour, capital, and product markets

Download or read book Designing Inclusion written by Edmund S. Phelps and published by Cambridge University Press. This book was released on 2003-11-27 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: An inclusion failure has become highly visible in the advanced economies of the West. Too many able-bodied people are subject to chronic joblessness and, when employed, cannot earn a living remotely like that in the mainstream of the population. One policy response has been to give such workers a range of goods and services without charge, another has been to single out some groups for tax credits tied to their earnings. However, many of the welfare programs actually weaken people's incentive to participate in the labour force and wage-income tax credits appear to have made hardly a dent in joblessness. This volume brings together leading economists to present four studies of methods to rebuild self-sufficiency and boosting employment: a graduated employment subsidy, a hiring subsidy and subsidies for training and education. It is of interest to anyone with a serious interest in the economics of subsidies to raise inclusion.