Labor Economics

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.