The Economics of Unemployment

by P. N. Junankar (Editor)

Overview

This comprehensive four-volume collection of previously published papers sets out to examine the most important issues in the study of unemployment; its causes, consequences and policies designed to tackle the problem.

The books present a wide range of different perspectives on the causes of unemployment including classical/neoclassical, radical, Keynesian and new Keynesian; the role of structural and technological change; the impact of international trade; political business cycles; the influence of institutions; empirical issues on unemployment differentials, including youth, immigrant and indigenous unemployment; economic and social costs/benefits of unemployment; and policies which have been, or could be, implemented to alleviate the problems of unemployment.

The Economics of Unemployment will be an essential reference source for students, professional economists and policymakers concerned with the problem of unemployment.

Product Details

ISBN-13:	9781858982366
Publisher:	Edward Elgar Publishing
Publication date:	12/26/2000
Series:	The International Library of Critical Writings in Economics series , #122
Edition description:	Four volume set
Pages:	2360
Product dimensions:	6.62(w) x 9.62(h) x (d)

About the Author

Edited by P.N. Junankar, Professor of Economics and Finance, University of Western Sydney, Australia

Table of Contents

Contents:

Volume I:
Acknowledgements
Introduction Economics of Unemployment: Causes, Consequences and Policies P.N. Junankar
PART I CONCEPTS
1. Robert M. Solow (1986), ‘Unemployment: Getting the Questions Right’
2. R.G. Gregory (1982), ‘Work and Welfare in the Years Ahead’
3. Stephen W. Salant (1977), ‘Search Theory and Duration Data: A Theory of Sorts’
4. Kim B. Clark and Lawrence H. Summers (1979), ‘Labor Market Dynamics and Unemployment: A Reconsideration’
5. George A. Akerlof and Brian G.M. Main (1981), ‘An Experience-Weighted Measure of Employment and Unemployment Durations’
6. George A. Akerlof and Janet L. Yellen (1985), ‘Unemployment Through the Filter of Memory’
7. Satya Paul (1992), ‘An Illfare Approach to the Measurement of Unemployment’
PART II CAUSES OF UNEMPLOYMENT: THEORIES
A Some Surveys
8. Robert M. Solow (1980), ‘On Theories of Unemployment’
9. Stephen Nickell (1990), ‘Unemployment: A Survey’
10. Charles R. Bean (1994), ‘European Unemployment: A Survey’
B Neoclassical and New Classical
Search Theories
11. Edmund S. Phelps (1968), ‘Money-Wage Dynamics and Labor-Market Equilibrium’
12. Dale T. Mortensen (1970), ‘Job Search, the Duration of Unemployment, and the Phillips Curve’
13. Peter A. Diamond (1982), ‘Wage Determination and Efficiency in Search Equilibrium’
14. John R. Harris and Michael P. Todaro (1970), ‘Migration, Unemployment and Development: A Two-Sector Analysis’
Mis-perception and Unemployment, Intertemporal Substitution
15. Robert E. Lucas, Jr. and Leonard A. Rapping (1969), ‘Real Wages, Employment, and Inflation’
16. Joseph G. Altonji (1982), ‘The Intertemporal Substitution Model of Labour Market Fluctuations: An Empirical Analysis’
Natural Rates
17. Milton Friedman (1968), ‘The Role of Monetary Policy’
18. Thomas J. Sargent (1973), ‘Rational Expectations, the Real Rate of Interest, and the Natural Rate of Unemployment’
C Keynesian
Inadequate Aggregate Demand, Quantity Rationing
19. Robert J. Barro and Herschel I. Grossman (1971), ‘A General Disequilibrium Model of Income and Employment’
20. Jean-Pascal Benassy (1975), ‘Neo-Keynesian Disequilibrium Theory in a Monetary Economy’
21. Harvey S. Rosen and Richard E. Quandt (1978), ‘Estimation of a Disequilibrium Aggregate Labor Market’
22. E. Malinvaud (1982), ‘Wages and Unemployment’
23. Jacques H. Drèze (1987), ‘Underemployment Equilibria: From Theory to Econometrics and Policy’
Name Index

Volume II:
Acknowledgements
An introduction by the editor to all four volumes appears in volume I
D New Keynesian Economics
Efficiency Wages
1. Carl Shapiro and Joseph E. Stiglitz (1984), ‘Equilibrium Unemployment as a Worker Discipline Device’
2. Janet L. Yellen (1984), ‘Efficiency Wage Models of Unemployment’
3. George A. Akerlof (1982), ‘Labor Contracts as Partial Gift Exchange’
4. Jeremy I. Bulow and Lawrence H. Summers (1986), ‘A Theory of Dual Labor Markets with Application to Industrial Policy, Discrimination, and Keynesian Unemployment’
Insider-Outsider
5. Assar Lindbeck and Dennis J. Snower (1988), ‘Cooperation, Harassment, and Involuntary Unemployment: An Insider-Outsider Approach’
6. Martin L. Weitzman (1987), ‘Steady State Unemployment Under Profit Sharing’
Implicit Contracts
7. Sherwin Rosen (1985), ‘Implicit Contracts: A Survey’
Hysteresis
8. S.P. Hargreaves Heap (1980), ‘Choosing the Wrong “Natural” Rate: Accelerating Inflation or Decelerating Employment and Growth?’
9. Olivier J. Blanchard and Lawrence H. Summers (1986), ‘Hysteresis and the European Unemployment Problem’
Multiple Natural Rates
10. Huw Dixon (1988), ‘Unions, Oligopoly and the Natural Range of Employment’
11. V. Bhaskar (1990), ‘Wage Relativities and the Natural Range of Unemployment’
E Macroeconomic Models
12. Patrick Minford (1983), ‘Labour Market Equilibrium in an Open Economy’
13. W.M. Corden (1984), ‘Booming Sector and Dutch Disease Economics: Survey and Consolidation’
14. Bruce C. Greenwald and Joseph E. Stiglitz (1988), ‘Examining Alternative Macroeconomic Theories’
Unions and Unemployment
15. Ian M. McDonald and Robert M. Solow (1981), ‘Wage Bargaining and Employment’
16. Andrew J. Oswald (1982), ‘Trade Unions, Wages and Unemployment: What Can Simple Models Tell Us?’
Structural and Technological Change and Unemployment
17. David M. Lilien (1982), ‘Sectoral Shifts and Cyclical Unemployment’
18. P.N. Junankar and Simon Price (1984), ‘The Dynamics of Unemployment: Structural Change and Unemployment Flows’
19. Katharine G. Abraham and Lawrence F. Katz (1986), ‘Cyclical Unemployment: Sectoral Shifts or Aggregate Disturbances?’
20. Steven J. Davis and John Haltiwanger (1990), ‘Gross Job Creation and Destruction: Microeconomic Evidence and Macroeconomic Implications’
21. Dale T. Mortensen and Christopher A. Pissarides (1994), ‘Job Creation and Job Destruction in the Theory of Unemployment’
Name Index

Volume III:
Acknowledgements
An introduction by the editor to all four volumes appears in volume I
PART III INSTITUTIONAL EXPLANATIONS OF UNEMPLOYMENT
A Political Business Cycles
1. M. Kalecki (1990), ‘Political Aspects of Full Employment’
2. William D. Nordhaus (1989), ‘Alternative Approaches to the Political Business Cycle’
3. Alberto Alesina (1989), ‘Politics and Business Cycles in Industrial Democracies’
B Labour Market Institutions and Unemployment
4. R.E. Rowthorn (1977), ‘Conflict, Inflation and Money’
5. Samuel Bowles (1985), ‘The Production Process in a Competitive Economy: Walrasian, Neo-Hobbesian, and Marxian Models’
6. Lars Calmfors and John Driffill (1988), ‘Bargaining Structure, Corporatism and Macroeconomic Performance and Discussion’
7. Richard B. Freeman (1988), ‘Labour Market Institutions and Economic Performance and Discussion’
PART IV UNEMPLOYMENT DIFFERENTIALS: WHY DO THEY PERSIST?
8. Lisa M. Lynch (1985), ‘State Dependency in Youth Unemployment: A Lost Generation?’
9. Paul W. Miller (1986), ‘Immigrant Unemployment in the First Year of Australian Labour Market Activity’
10. P.N. Junankar and Cezary A. Kapuscinski (1991), ‘Aboriginal Employment and Unemployment: An Overview’
11. James J. Heckman and George J. Borjas (1980), ‘Does Unemployment Cause Future Unemployment? Definitions, Questions and Answers from a Continuous Time Model of Heterogeneity and State Dependence’
12. Mary Corcoran and Martha S. Hill (1985), ‘Reoccurrence of Unemployment Among Adult Men’
13. Peder J. Pedersen and Niels Westergård-Nielsen (1993), ‘Unemployment: A Review of the Evidence from Panel Data’
PART V UNEMPLOYMENT: SOME EMPIRICAL ISSUES
A Real Wages and Unemployment
14. Richard Layard and Stephen Nickell (1986), ‘Unemployment in Britain’
15. John McCallum (1986), ‘Unemployment in OECD Countries in the 1980s’
16. Jeffrey D. Sachs (1983), ‘Real Wages and Unemployment in the OECD Countries’
17. Hian Teck Hoon and Edmund S. Phelps (1992), ‘Macroeconomic Shocks in a Dynamized Model of the Natural Rate of Unemployment’
B Minimum Wages
18. Charles Brown, Curtis Gilroy and Andrew Kohen (1982), ‘The Effect of the Minimum Wage on Employment and Unemployment’
19. David Card (1992), ‘Do Minimum Wages Reduce Employment? A Case Study of California, 1987–89’
Name Index

Volume IV:
Acknowledgements
An introduction by the editor to all four volumes appears in volume I
PART VI UNEMPLOYMENT: SOME EMPIRICAL ISSUES – PART 2
A Efficiency Wages
1. Alan B. Krueger and Lawrence H. Summers (1988), ‘Efficiency Wages and the Inter-Industry Wage Structure’
B Unemployment and Vacancies: The Beveridge Curve
2. Olivier Jean Blanchard and Peter Diamond (1989), ‘The Beveridge Curve’
3. Christopher A. Pissarides (1985), ‘Short-Run Equilibrium Dynamics of Unemployment, Vacancies, and Real Wages’
C Unemployment Benefits and Unemployment
4. Anthony B. Atkinson and John Micklewright (1991), ‘Unemployment Compensation and Labor Market Transitions: A Critical Review’
5. Michael Burda (1988), ‘“Wait Unemployment” in Europe’
6. Bruce D. Meyer (1990), ‘Unemployment Insurance and Unemployment Spells’
7. Wiji Arulampalam and Mark B. Stewart (1995), ‘The Determinants of Individual Unemployment Durations in an Era of High Unemployment’
D International Trade and Unemployment
8. Adrian Wood (1995), ‘How Trade Hurt Unskilled Workers’
PART VII COSTS AND BENEFITS
A Inflation Unemployment Trade-offs? Phillips Curves
9. A.W. Phillips (1958), ‘The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957’
10. Richard G. Lipsey (1960), ‘The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1862–1957: A Further Analysis’
11. James Tobin (1972), ‘Inflation and Unemployment’
12. David G. Blanchflower and Andrew J. Oswald (1990), ‘The Wage Curve’
B Social and Economic Costs
13. Martin Feldstein (1978), ‘The Private and Social Costs of Unemployment’
14. Kenneth Clark, Derek Leslie and Elizabeth Symons (1994), ‘The Costs of Recession’
C Unemployment and Health/Morbidity/Mortality
15. M. Harvey Brenner and Anne Mooney (1983), ‘Unemployment and Health in the Context of Economic Change’
16. Hugh S.E. Gravelle (1984), ‘Editorial: Time Series Analysis of Mortality and Unemployment’
17. Stephen Platt (1984), ‘Unemployment and Suicidal Behaviour: A Review of the Literature’
PART VIII POLICIES
18. Robert G. Chambers (1989), ‘Workfare or Welfare?’
19. Richard Jackman, Christopher Pissarides and Savvas Savouri (1990), ‘Labour Market Policies and Unemployment in the OECD’
20. Lars Calmfors (1994), ‘Active Labour Market Policy and Unemployment – A Framework for the Analysis of Crucial Design Features’
21. Peter Dolton and Donal O'Neill (1996), ‘The Restart Effect and the Return to Full-time Stable Employment’
Name Index

Editorial Reviews

This four-volume set, containing 84 selections, represents various approaches to explaining the causes of unemployment, both theoretical and empirical; the consequences of unemployment on society in general; and policies to tackle the problem. Volume I covers some conceptual issues; surveys the big picture and collects some of the classics in neoclassical and new classical approaches; and includes several papers on Keynesian and New Keynesian approaches. Volume II illustrates new Keynesian ideas developed to provide explanations of the problems of adjusting instantaneously to an excess supply of labor. Volume III looks at political business cycles, discusses the role of labor market institutions, microeconomic studies, empirical issues in estimating macroeconomic models, and the debate on the effects of minimum wages. Volume IV provides discussion on efficiency wages, developments that use a relationship between unemployment and vacancies, the role of unemployment benefits, the costs and benefits of unemployment, and policies to control or alleviate the situation. The set is not indexed. Edited by P.N. Junankar (economics and finance, U. of Western Sydney, Australia). Annotation c. Book News, Inc., Portland, OR (booknews.com)

Booknews