The Economics of Imperfect Labor Markets

Most labor economics textbooks pay little attention to actual labor markets, with the exception of the occasional reference to competitive labor markets like that of the United States. The Economics of Imperfect Labor Markets is the only textbook to focus on imperfectly competitive labor markets and to provide a systematic framework for analyzing how labor institutions function and interact in these markets. The Economics of Imperfect Labor Markets 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, active labor market policies, working time regulations, family policies, 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 today being changed by political and economic forces. It offers unique focus on institutions in imperfect labor markets; integrated framework and systematic coverage; a self-contained chapter on each of the most important labor market institutions; and, end-of-chapter review questions.