Unemployment, Choice and Inequality

ISBN-13: 9783642705496 / Angielski / Miękka / 2011 / 178 str.

Michael Sattinger

Opis

This monograph began as a study of the consequences of labor force effects, in cluding unemployment, for the distribution of earnings. I began by developing a model of job search. But following my previous work on the distribution of earnings, the search theory took a different form from the standard literature. Workers and firms were engaged in mutual search which effectively assigned workers to jobs. A number of open questions immediately became apparent, including the relation bet ween unemployment and inequality, the nature and costs of unemployment, and the role of choice. These quickly provided sufficient material for the monograph. I began work on the project in 1980 at Miami University of Ohio. I wish to thank my chairman there, William McKinstry, for the support I received during my last year there. My colleagues Donald Cymrot and James Moser provided some early com ments on the project and I am indebted to Joseph Simpson for extensive computer assistance."

Spis treści

1. Introduction.- 1. Subject Matter.- 2. Previous Work.- 3. Choice in Labor Markets.- 4. Outline of Remaining Chapters.- 2. Search in Labor Markets.- 1. Introduction.- 2. Worker Search Behavior.- 3. Impacts of Labor Market Conditions.- 4. Extensions.- 5. Distributions of Workers and Jobs.- 6. Behavior of the firm.- 7. Summary.- 3. The Valuation of Unemployment.- 1. Introduction.- 2. Alternative Valuations.- 3. Previous Estimates.- 4. Direct Estimates.- 5. Aggregate Approach.- 6. Labor Force Participation Approach.- 7. Cross-Section Estimates.- 8. General Conclusions.- Appendix: Data Sources.- 4. The Distribution of Employment.- 1. Introduction.- 2. Previous Work.- 3. Sources of Inequality.- 4. Distribution of the Time Spent Unemployed.- 5. Employment Inequality.- 6. Heterogeneous Transition Rates.- 7. Conclusions.- 5. The Distribution of Wage Rates.- 1. Introduction.- 2. Truncated Wage Offer Distributions.- 3. Accepted Wage Distribution.- 4. The Contribution of Choice.- 5. The Source of Wage Rate Dispersion.- 6. Summary.- 6. Inequality.- 1. Introduction.- 2. Statistical Relations.- 3. Observed Earnings Inequality.- 4. The Role of Choice and Uncertain Outcomes.- 5. Unemployment-Compensated Wage Rates.- 6. Inequality by Source.- 7. Summary.- 7. The Operation of Labor Markets.- 1. Introduction.- 2. Dual Labor Markets.- 3. The Business Cycle.- 4. Wage Rigidity, Wage Resistance and the Aggregate Supply Curve.- 8. Chronic Underemployment and Regression Towards the Mean.- 1. Introduction.- 2. Advantageous Trades and the Economic Role of Unemployment.- 3. Definition of Underemployment.- 4. Tests for Underemployment.- 5. Regression Towards the Mean.- 6. Chronic Underemployment.- 7. Comparison with Previous Theories.- 9. Summary.- 1. Ten Theoretical Conclusions.- 2. Ten Empirical Results.- 3. Six Remaining Tasks.- 4. Three New Directions.- References.- Author Index.