The Economics of Earnings analyses the wages that people earn, the jobs they do, and the labour market laws and rules within which they operate. Moving away from the conventional emphasis on point-in-time one-period decisions, it stresses informed worker choice over the life-cycle - the human capital approach. Within this framework, the book synthesises research results so as to point the way to better labour market policies. Government policy is often directed towards labour market issues such as education subsidies, training programmes, health and safety laws, and employment protection laws. By using models based on informed worker choice - the supply side - this book will assist concerned individuals in government, industry and academic study to evaluate and improve labour market policies and practices.
• Undergraduate/graduate text in labour economics covering all the main theoretical themes, and examining all the implications for government policy • Scores over its competitors by offering a modern 'human capital' framework of analysis, which has been neglected so far in texts but has become increasingly influential in the profession • Polachek is a well-known and respected figure in the field. Siebert is the co-author of another successful text in labour economics
Preface; 1. Introduction: the importance of life-cycle analysis; 2. The life-cycle human capital model; 3. Schooling; 4. Post-school investments; 5. Labour supply; 6. Gender in the labour market; 7. Compensating wage differentials and heterogeneous human capital; 8. Information and wages; 9. Payment systems and internal labour markets; 10. Unionisation; References.
'… The Economics of Earnings is a fine textbook for a core part of a labour economics curriculum.' Besprechungen
' … this book is a masterful synthesis of theory and evidence. It provides a thoughtful and highly readable presentation of the central questions and methodological issues that constitute current day understanding of, and research on, labor markets.' Southern Economic Journal