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The Economics of Imperfect Labor Markets, Third Edition

Name: The Economics of Imperfect Labor Markets, Third Edition
Author: Tito Boeri, Jan van Ours

Tito Boeri, Jan van Ours

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The Economics of Imperfect Labor Markets, Third Edition

Tito Boeri, Jan van Ours

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About This Book

The leading textbook on imperfect labor markets and the institutions that affect them—now completely updated and expanded Today's labor markets are witnessing seismic changes brought on by such factors as rising self-employment, temporary employment, zero-hour contracts, and the growth of the sharing economy. This fully updated and revised third edition of The Economics of Imperfect Labor Markets reflects these and other critical changes in imperfect labor markets, and it has been significantly expanded to discuss topics such as workplace safety, regulations on self-employment, and disability and absence from work. This new edition also features engaging case studies that illustrate key aspects of imperfect labor markets.Authoritative and accessible, this textbook examines the many institutions that affect the behavior of workers and employers in imperfect labor markets. These include minimum wages, employment protection legislation, unemployment benefits, family policies, equal opportunity legislation, collective bargaining, early retirement programs, and education and migration policies. Written for advanced undergraduates and beginning graduate students, the book carefully defines and measures these institutions to accurately characterize their effects, and discusses how these institutions are being transformed today.

Fully updated to reflect today's changing labor markets
Significantly expanded to discuss a wealth of new topics, including the impact of the COVID-19 pandemic
Features quantitative examples, new case studies, data sets that enable users to replicate results in the literature, technical appendixes, and end-of-chapter exercises
Unique focus on institutions in imperfect labor markets
Self-contained chapters cover each of the most important labor-market institutions
Instructor's manual available to professors—now with new exercises and solutions

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Information

Publisher

Princeton University Press

Year

2021

ISBN

9780691208824

Topic

Economics

Subtopic

Labour Economics

Index

Economics

100

80

60

40

20

0

2005m1

2010m1

2015m1

2020m1

Jobs

Housing

Terrorism

Credit

FIGURE

1.1.

Google

trends

they

typically

hold

beliefs,

in

several

cases

rather

misleading

ones,

as

to

how

labor

markets

operate.

To

give

a

few

examples,

the

layperson

oﬅen

believes

that

1.

there

is

a

ﬁxed

number

of

jobs

so

that

early

retirement

or

a

reduc-

tion

in

working

hours

generates

new

employment

opportunities

for

the

unemployed,

2.

wages

can

be

arbitrarily

set

by

policymakers

independently

of

the

law

of

demand

and

supply,

and

3.

stronger

job

protection

increases

employment.

It

is

suﬃcient

to

look

at

some

aggregate

statistics

to

grasp

how

these

perceptions

can

be

misleading.

Is

the

Number

of

Jobs

Fixed?

According

to

common

wisdom,

labor

markets

are

like

a

bus

in

rush

hour:

Someone

must

get

out

ﬁrst

to

let

someone

else

get

in.

However,

there

is

no

reason

the

number

of

jobs

should

be

ﬁxed

over

time.

This

is

clear

from

ﬁgure

1.2,

which

displays

employment

rates

(i.e.,

the

number

of

persons

working

as

a

percentage

of

the

working-age

population)

in

the

European

Union,

Japan,

and

the

United

States

in

the

last

20

years.

Employment

rates

have

been

on

an

upward

trend

everywhere.

When

they

have

not

2

1.

Overview