Are Shirking and Leisure Substitutable? An Empirical Test of Efficiency Wages Based on Urban Economic Theory

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Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Are Shirking and Leisure Substitutable? An Empirical Test of Efficiency Wages Based on Urban Economic Theory by : Stephen L. Ross

Download or read book Are Shirking and Leisure Substitutable? An Empirical Test of Efficiency Wages Based on Urban Economic Theory written by Stephen L. Ross and published by . This book was released on 2014 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent theoretical work has examined the spatial distribution of unemployment using the efficiency wage model as the mechanism by which unemployment arises in the urban economy. This paper extends the standard efficiency wage model in order to allow for behavioral substitution between leisure time at home and effort at work. In equilibrium, residing at a location with a long commute affects the time available for leisure at home and therefore affects the trade-off between effort at work and risk of unemployment. This model implies an empirical relationship between expected commutes and labor market outcomes, which is tested using the Public Use Microdata sample of the 2000 U.S. Decennial Census. The empirical results suggest that efficiency wages operate primarily for blue collar workers, i.e. workers who tend to be in occupations that face higher levels of supervision. For this subset of workers, longer commutes imply higher levels of unemployment and higher wages, which are both consistent with shirking and leisure being substitutable.

Are Shirking and Leisure Substitutable?

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ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (123 download)

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Book Synopsis Are Shirking and Leisure Substitutable? by : Stephen A. Ross

Download or read book Are Shirking and Leisure Substitutable? written by Stephen A. Ross and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Urban Labor Economics

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Publisher : Cambridge University Press
ISBN 13 : 0521875382
Total Pages : 525 pages
Book Rating : 4.5/5 (218 download)

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Book Synopsis Urban Labor Economics by : Yves Zenou

Download or read book Urban Labor Economics written by Yves Zenou and published by Cambridge University Press. This book was released on 2009-04-27 with total page 525 pages. Available in PDF, EPUB and Kindle. Book excerpt: Simple models of urban search matching -- Extensions of urban search-matching models -- Non-monocentric cities and search-matching -- Simple models of urban efficiency wages -- Extensions of urban efficiency wage models -- Non-monocentric cities and efficiency wages -- The spatial mismatch hypothesis : a search-matching approach -- The spatial mismatch hypothesis : an efficiency-wage approach -- Peer effects, social networks, and labor market outcomes in cities -- General conclusion -- Appendix A: basic urban economics -- Appendix B: Poisson process and derivation of Bellman equations -- Appendix C: The Harris-Todaro model.

The Oxford Handbook of Urban Economics and Planning

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Publisher : Oxford University Press
ISBN 13 : 0195380622
Total Pages : 1027 pages
Book Rating : 4.1/5 (953 download)

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Book Synopsis The Oxford Handbook of Urban Economics and Planning by : Nancy Brooks

Download or read book The Oxford Handbook of Urban Economics and Planning written by Nancy Brooks and published by Oxford University Press. This book was released on 2012-01-12 with total page 1027 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume embodies a problem-driven and theoretically informed approach to bridging frontier research in urban economics and urban/regional planning. The authors focus on the interface between these two subdisciplines that have historically had an uneasy relationship. Although economists were among the early contributors to the literature on urban planning, many economists have been dismissive of a discipline whose leading scholars frequently favor regulations over market institutions, equity over efficiency, and normative prescriptions over positive analysis. Planners, meanwhile, even as they draw upon economic principles, often view the work of economists as abstract, not sensitive to institutional contexts, and communicated in a formal language spoken by few with decision making authority. Not surprisingly, papers in the leading economic journals rarely cite clearly pertinent papers in planning journals, and vice versa. Despite the historical divergence in perspectives and methods, urban economics and urban planning share an intense interest in many topic areas: the nature of cities, the prosperity of urban economies, the efficient provision of urban services, efficient systems of transportation, and the proper allocation of land between urban and environmental uses. In bridging this gap, the book highlights the best scholarship in planning and economics that address the most pressing urban problems of our day and stimulates further dialog between scholars in urban planning and urban economics.

Labour markets, commuting and company cars

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Publisher : Rozenberg Publishers
ISBN 13 : 9036102154
Total Pages : 140 pages
Book Rating : 4.0/5 (361 download)

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Book Synopsis Labour markets, commuting and company cars by : Eva Gutiérrez Puigarnau

Download or read book Labour markets, commuting and company cars written by Eva Gutiérrez Puigarnau and published by Rozenberg Publishers. This book was released on 2011 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Structural Slumps

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Publisher : Harvard University Press
ISBN 13 : 9780674843738
Total Pages : 444 pages
Book Rating : 4.8/5 (437 download)

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Book Synopsis Structural Slumps by : Edmund S. Phelps

Download or read book Structural Slumps written by Edmund S. Phelps and published by Harvard University Press. This book was released on 1994 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dissatisfied with the explanations of the business cycle provided by the Keynesian, monetarist, New Keynesian, and real business cycle schools, Edmund Phelps has developed from various existing strands-some modern and some classical--a radically different theory to account for the long periods of unemployment that have dogged the economies of the United States and Western Europe since the early 1970s. Phelps sees secular shifts and long swings of the unemployment rate as structural in nature. That is, they are typically the result of movements in the natural rate of unemployment (to which the equilibrium path is always tending) rather than of long-persisting deviations around a natural rate itself impervious to changing structure. What has been lacking is a "structuralist" theory of how the natural rate is disturbed by real demand and supply shocks, foreign and domestic, and the adjustments they set in motion. To study the determination of the natural rate path, Phelps constructs three stylized general equilibrium models, each one built around a distinct kind of asset in which firms invest and which is important for the hiring decision. An element of these models is the modern economics of the labor market whereby firms, in seeking to dampen their employees' propensities to quit and shirk, drive wages above market-clearing levels-the phenomenon of the "incentive wage"--and so generate involuntary unemployment in labor-market equilibrium. Another element is the capital market, where interest rates are disturbed by demand and supply shocks such as shifts in profitability, thrift, productivity, and the rate of technical progress and population increase. A general-equilibrium analysis shows how various real shocks, operating through interest rates upon the demand for employees and through the propensity to quit and shirk upon the incentive wage, act upon the natural rate (and thus equilibrium path). In an econometric and historical section, the new theory of economic activity is submitted to certain empirical tests against global postwar data. In the final section the author draws from the theory some suggestions for government policy measures that would best serve to combat structural slumps.

The Labor Market and Economic Adjustment

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Publisher : International Monetary Fund
ISBN 13 : 1451854781
Total Pages : 98 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis The Labor Market and Economic Adjustment by : Pierre-Richard Agénor

Download or read book The Labor Market and Economic Adjustment written by Pierre-Richard Agénor and published by International Monetary Fund. This book was released on 1995-11-01 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.

The Color of Credit

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Publisher : MIT Press
ISBN 13 : 9780262264334
Total Pages : 488 pages
Book Rating : 4.2/5 (643 download)

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Book Synopsis The Color of Credit by : Stephen L. Ross

Download or read book The Color of Credit written by Stephen L. Ross and published by MIT Press. This book was released on 2002-11-08 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of current findings on mortgage-lending discrimination and suggestions for new procedures to improve its detection. In 2000, homeownership in the United States stood at an all-time high of 67.4 percent, but the homeownership rate was more than 50 percent higher for non-Hispanic whites than for blacks or Hispanics. Homeownership is the most common method for wealth accumulation and is viewed as critical for access to the most desirable communities and most comprehensive public services. Homeownership and mortgage lending are linked, of course, as the vast majority of home purchases are made with the help of a mortgage loan. Barriers to obtaining a mortgage represent obstacles to attaining the American dream of owning one's own home. These barriers take on added urgency when they are related to race or ethnicity. In this book Stephen Ross and John Yinger discuss what has been learned about mortgage-lending discrimination in recent years. They re-analyze existing loan-approval and loan-performance data and devise new tests for detecting discrimination in contemporary mortgage markets. They provide an in-depth review of the 1996 Boston Fed Study and its critics, along with new evidence that the minority-white loan-approval disparities in the Boston data represent discrimination, not variation in underwriting standards that can be justified on business grounds. Their analysis also reveals several major weaknesses in the current fair-lending enforcement system, namely, that it entirely overlooks one of the two main types of discrimination (disparate impact), misses many cases of the other main type (disparate treatment), and insulates some discriminating lenders from investigation. Ross and Yinger devise new procedures to overcome these weaknesses and show how the procedures can also be applied to discrimination in loan-pricing and credit-scoring.

The Economics of International Immigration

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Publisher : Springer
ISBN 13 : 9811000921
Total Pages : 252 pages
Book Rating : 4.8/5 (11 download)

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Book Synopsis The Economics of International Immigration by : Kenji Kondoh

Download or read book The Economics of International Immigration written by Kenji Kondoh and published by Springer. This book was released on 2016-09-29 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book that takes a theoretical approach to the effects of international immigration by considering the current economic topics confronted by more highly developed countries such as Japan. Developed here is the classic trade model by Heckscher–Ohlin–Samuelson, McDougall’s basic model of the international movement factor, the urban–rural migration model by Harris–Todaro, and Copeland–Taylor’s well-known model in the field of environmental economics by introducing new trends such as economic integration including free trade and factor mobility between countries at different stages of development. Coexistence of two types of immigrants – legal, skilled workers and illegal, unskilled workers – without any explicit signs of discrimination, transboundary pollution caused by neighboring lower-developed countries with poor pollution abatement technology, difficult international treatment of transboundary renewable resources, the rapid process of aging and population decrease, the higher unemployment rate of younger generations, and the serious gap between permanent and temporary employed workers—are also considered in this book as new and significant topics under the context of international immigration. Taking into account the special difficulties of those serious problems in Asia, each chapter illustrates Japanese and other Asian situations that encourage readers to understand the importance of optimal immigration policies. Also shown is the possibility that economic integration and liberalization of international immigration should bring about positive effects on the economic welfare of the developed host country including the aspects of natural environment, renewable transboundary resources, the rate of unemployment, and the wage gap between workers.

Making Of An Economic Superpower, The: Unlocking China's Secret Of Rapid Industrialization

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Publisher : World Scientific
ISBN 13 : 9814733741
Total Pages : 336 pages
Book Rating : 4.8/5 (147 download)

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Book Synopsis Making Of An Economic Superpower, The: Unlocking China's Secret Of Rapid Industrialization by : Yi Wen

Download or read book Making Of An Economic Superpower, The: Unlocking China's Secret Of Rapid Industrialization written by Yi Wen and published by World Scientific. This book was released on 2016-05-13 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.

Productivity Measurement and Analysis

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Publisher : OECD Publishing
ISBN 13 : 9264044612
Total Pages : 556 pages
Book Rating : 4.2/5 (64 download)

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Book Synopsis Productivity Measurement and Analysis by : OECD

Download or read book Productivity Measurement and Analysis written by OECD and published by OECD Publishing. This book was released on 2009-04-28 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents the proceedings of two workshops on productivity measurement and analysis, which brought together representatives of statistical offices, central banks and other officials involved with the analysis and measurement of productivity at aggregate and industry levels.

New Keynesian Economics/post Keynesian Alternatives

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Publisher : Psychology Press
ISBN 13 : 0415123887
Total Pages : 410 pages
Book Rating : 4.4/5 (151 download)

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Book Synopsis New Keynesian Economics/post Keynesian Alternatives by : Roy Jeffrey Rotheim

Download or read book New Keynesian Economics/post Keynesian Alternatives written by Roy Jeffrey Rotheim and published by Psychology Press. This book was released on 1998 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: New Keynesian Economics has been the most significant development in economics in recent years. However, many modern thinkers have asked whether it actually builds upon or merely distorts Keynes' work. This unique volume provides the first full-scale critique of the New Keynesian school of thought. Within its pages, Post-Keynesian economists, including many from the United States, challenge New Keynesianism both on the grounds that it is not Keynesian, and does not provide an adequate account of our current economic problems. Sure to provoke much new debate and even controversy, New Keynesian Economicsseeks to reconcile these two seemingly intractable systems.

New Keynesian Economics / Post Keynesian Alternatives

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Publisher : Taylor & Francis
ISBN 13 : 1134804768
Total Pages : 409 pages
Book Rating : 4.1/5 (348 download)

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Book Synopsis New Keynesian Economics / Post Keynesian Alternatives by : Roy Rotheim

Download or read book New Keynesian Economics / Post Keynesian Alternatives written by Roy Rotheim and published by Taylor & Francis. This book was released on 2013-03-07 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New Keynesian Economics has been the most significant development in economics in recent years. Does it actually build upon Keynes' work? In this volume, leading post Keynesian economists challenge New Keynesianism both on the grounds that it is not Keynesian, and does not provide an adequate account of our current economic problems.

Handbook of Agricultural Economics

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Publisher : Elsevier
ISBN 13 : 0080545270
Total Pages : 847 pages
Book Rating : 4.0/5 (85 download)

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Book Synopsis Handbook of Agricultural Economics by : Robert E. Evenson

Download or read book Handbook of Agricultural Economics written by Robert E. Evenson and published by Elsevier. This book was released on 2007-06-28 with total page 847 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 3 of this series of the Handbooks in Economics follows on from the previous two volumes by focusing on the fundamental concepts of agricultural economics. The first part of the volume examines the developments in human resources and technology mastery. The second part follows on by considering the processes and impact of invention and innovation in this field. The effects of market forces are examined in the third part, and the volume concludes by analysing the economics of our changing natural resources, including the past effects of climate change.Overall this volume forms a comprehensive and accessible survey of the field of agricultural economics and is recommended reading for anyone with an interest, either academic or professional, in this area.*Part of the renown Handbooks in Economics series*Contributors are leaders of their areas*International in scope and comprehensive in coverage

Making Globalization Work

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Publisher : W. W. Norton & Company
ISBN 13 : 0393330281
Total Pages : 401 pages
Book Rating : 4.3/5 (933 download)

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Book Synopsis Making Globalization Work by : Joseph E. Stiglitz

Download or read book Making Globalization Work written by Joseph E. Stiglitz and published by W. W. Norton & Company. This book was released on 2007-08-28 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nobel Prize winner Stiglitz focuses on policies that truly work and offers fresh, new thinking about the questions that shape the globalization debate.

Universal Economics

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Publisher : Liberty Fund
ISBN 13 : 9780865979055
Total Pages : 0 pages
Book Rating : 4.9/5 (79 download)

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Book Synopsis Universal Economics by : Armen Albert Alchian

Download or read book Universal Economics written by Armen Albert Alchian and published by Liberty Fund. This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Universal Economics is a new work that bears a strong resemblance to its two predecessors, University Economics (1964, 1967, 1972) and Exchange and Production (1969, 1977, 1983). Collaborating again, Professors Alchian and Allen have written a fresh presentation of the analytical tools employed in the economic way of thinking. More than any other principles textbook, Universal Economics develops the critical importance of property rights to the existence and success of market economies. The authors explain the interconnection between goods prices and productive-asset prices and how market-determined interest rates bring about the allocation of resources toward the satisfaction of consumption demands versus saving/investment priorities. They show how the crucial role of prices in a market economy cannot be well understood without a firm grasp of the role of money in a modern world. The Alchian and Allen application of information and search-cost analysis to the subject of money, price determination, and inflation is unique in the teaching of economic principles. No one has ever done price theory better than Alchian -- that is, no one has ever excelled Alchians ability to explain the reason, role, and nuances of prices, of competition, and of property rights. And only a precious few -- I can count them on my fingers -- have a claim for being considered to have done price theory as well as he did it. -- Donald Boudreaux, George Mason University. Armen A. Alchian (19142013), one of the twentieth centurys great teachers of economic science, taught at UCLA from 1958 to 1984. Founder of the UCLA tradition in economics, he has become recognized as one of the most influential voices in the areas of market structure, property rights, and the theory of the firm. William R. Allen taught at Washington University prior to joining the UCLA faculty in 1952. Along with research primarily in international economics and the history of economic theory, he has concentrated on teaching economics. Universal Economics is his third textbook collaboration with Armen Alchian. Jerry L. Jordan wrote his doctoral dissertation under the direction of Armen Alchian. He was Dean of the School of Management at the University of New Mexico, a member of President Reagans Council of Economic Advisors and of the U.S. Gold Commission, Director of Research of the Federal Reserve Bank of Saint Louis, and President and CEO of the Federal Reserve Bank of Cleveland.

Looking Into the Black Box

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (136 download)

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Book Synopsis Looking Into the Black Box by : Barbara Petrongolo

Download or read book Looking Into the Black Box written by Barbara Petrongolo and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: