Equilibrium Unemployment Theory Pissarides

Equilibrium Unemployment Theory - 2nd Edition by Christopher A. Pissarides

An equilibrium theory of unemployment assumes that firms and workers maximize their payoffs under rational expectations and that wages are determined to exploit the private gains from trade. This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market.This approach to labor market equilibrium and unemployment has been successful in explaining the determinants of the "natural" rate of unemployment and new data on job and worker flows, in modeling the labor market in equilibrium business cycle and growth models, and in analyzing welfare policy. The second edition contains two new chapters, one on endogenous job destruction and one on search on the job and job-to-job quitting. The rest of the book has been extensively rewritten and, in several cases, simplified.

The book is written by one of the pioneers of matching theory approach to unemployment theory. The book starts with very simple matching models and builds its way up by adding something at each chapter. So the book starts by a deterministic model of equilibrium with only labor as input. you see that first capital is added to the model, then dynamics of the model are discussed and balanced paths are derived. Then random elements and shocks are added,then heterogeneity among workers is considered and then search efforts and other elements are being added.

I think the book is very well written and the flow of topics and ideas is smooth and easy to grasp. Verbal discussion and explanations are clear, informative and are always accompanied by the proper formulas and derivations. Note that the book covers only matching models of labor and completely ignores other types of models (like efficiency wage, implicit contracts, ...). Also chapters don't have exercises at the end, which I don't think is a major handicap for the book, as it is more meant for graduate level research.

In general I think this book makes understanding the matching theory easy and anybody who wants to work on labor economics should know about this book.

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Labor Relations by Fred Witney

Labor Relations (13th Edition)  by Fred Witney

Labor Relations, 13/e, the most accurate, readable, timely, and valuable book of its kind on the market, provides readers with a basic understanding of unionism in its natural habitat and a fundamental appreciation of the union-management process. It focuses on the negotiation and administration of labor agreements, and emphasizes the more significant bargaining issues. The 13th edition includes new material and an extensively revised and updated bibliography. For vice-presidents and directors of labor relations, union presidents, and others who are full-time labor-management professionals for either managements or unions.

About the Author

Arthur A. Sloane, Professor of Labor Relations at the University of Delaware, holds a bachelor's degree and doctorate from Harvard University. Formerly a personnel administrator for Sylvania Electric Products, Inc., he also taught at Indiana University. He has written several books, including a 19)1 biography of Jimmy Hoffa, Hoffa; is a member of both the National Roster of Labor Arbitration of the Federal Mediation and Conciliation Service and the National Labor Panel of the American Arbitration Association; and has been Chairperson of the Delaware Public Employment Relations Board and permanent impartial arbitrator under the DaimlerChrysler-UAW labor contract. He has been honored many times for his excellence in teaching, both by his university and by such outside institutions as the Danforth Foundation of St. Louis.

The late Fred Whitney, all three of whose academic degrees were awarded by the University of Illinois, spent his entire professional career as a Professor of Economics at Indiana University. A member of the National Academy of Arbitrators, he similarly served as an active arbitrator under the authorities of the Federal Mediation and Conciliation Service and the American Arbitration Association. He authored many articles that were published in leading professional journals and wrote five books in the field of labor, including seven editions of Labor Relations Law (coauthored with Benjamin J. Taylor), Government and Collective Bargaining, and Labor Relations in Spain. A legendary teacher, his university also honored him with a variety of awards for his classroom performance.

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Job Matching, Wage Dispersion, Unemployment Mortensen

Job Matching, Wage Dispersion, and Unemployment by Dale Mortensen

Dale T. Mortensen and Christopher A. Pissarides are the recipients (with Peter Diamond) of the Nobel memorial Prize in Economics 2010. They have made path-breaking contributions to the analysis of markets with search and matching frictions, which account for much of the success of job search theory and the flows approach in becoming a leading tool for microeconomic and macroeconomic analysis of labor markets. Both scientists have gained groundbreaking insights through individual as well as joint research. Consequently, this volume not only features several papers which helped shape the equilibrium search model, including some early contributions which have initiated the research on what is known today as the search and matching model of the labor market, but it also presents a joint paper by the IZA Prize Laureates, which is a complete statement of the equilibrium search and matching model with endogenous job creation and job destruction. As part of the IZA Prize Series, the book presents a selection of their most important work which has highly enriched research on unemployment as an equilibrium phenomenon, on labor market dynamics, and on cyclical adjustment.

About the Author

Dale T. Mortensen is the Niels Bohr Visiting Professor of Economics at Aarhus University, a research associate of the National Bureau of Economic Research (NBER), and an IZA Research Fellow. He received his BA in Economics from Willamette University in 1961 and his PhD in Economics from Carnegie-Mellon University in 1967. Mortensen is a fellow of Econometrica Society, the American Academy of Arts and Sciences, the Society of Labor Economics, and the European Economic Association. He was awarded the Society of Labor Economics Mincer Prize in 2007 and elected an American Economic Association Distinguished Fellow in 2008. Among his publications are over fifty scientific articles and his book Wage Dispersion: Why Are Similar Workers Paid Differently?

Christopher A. Pissarides holds the Norman Sosnow Chair in Economics. He specialises in the economics of unemployment, labor market theory and policy, and economic growth and structural change. Pissarides has published extensively in professional journals and his book Equilibrium Unemployment Theory is a standard reference in the field. He is President Elect 2010 of the European Economic Association, Fellow of the British Academy, the Econometric Society, the European Economic Association and the Society of Labor Economists. His editorial activities include the chair of the Economica board, and membership of the editorial board of the AEJ: Macroeconomics and other journals. He is research fellow of IZA, the Centre of Economic Performance at LSE, and the Centre for Economic Policy Research (CEPR London).

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Guide to Labor Relations Act: Strecker

Labor Law: A Basic Guide to the National Labor Relations Act by David E. Strecker

Whether you are a supervisor, a business owner, or an HR professional, it is essential that you understand the laws and rules governing how one treats employees and interacts with unions. In a comprehensive and accessible format, Labor Law: A Basic Guide to the National Labor Relations Act provides a practice-oriented foundation on labor law. The book sheds light on one of America's most important laws and one which is also, perhaps, the most misunderstood.

This book presents an overview of labor and employment laws such that managers may understand their rights as employers as well and their employees' rights. It covers an introduction to the topic of labor and employment law as well as a brief history within the United States. Other chapters deal with unions and union relations, collective bargaining agreements, grievances, labor arbitration, unfair labor practice proceedings, and strikes and lockouts. The author does not focus on complex regulations and convoluted case law, but distills them to reveal the essence of the NLRA and how it works.

As important as it is, at times labor law can seem counter-intuitive. Written by a highly experienced labor lawyer, this book contains concise explanations in an easy-to-use format. Clearly delineating a process that can be fraught with traps for the unwary, it supplies a quick reference that can be used in a crisis situation to understand the parameters of what you can and cannot do.

About the Author

David E. Strecker has been practicing labor and employment law for over 30 years. He is admitted to practice in New York and Oklahoma and represents clients from all sectors of industry and business. His legal experience encompasses the full range of employment law, including labor relations, employment discrimination, wrongful termination, workplace safety, wage/hour matters, policy/handbook preparation, employment contracts, non-compete covenants, and employee benefits. He is an experienced advocate before state and federal courts and administrative agencies.

Mr. Strecker is a regular speaker at CLE Seminars and has published several articles on labor and employment law issues. He teaches Labor Relations at Oklahoma State University and Negotiation and Management Skills at the University of Tulsa. Mr. Strecker graduated from Cornell University with a Juris Doctorate (cum laude) and a Masters degree in Industrial and Labor Relations. He received his undergraduate degree (magna cum laude) from Westminster College in Fulton, Missouri. He is a member of the American Bar Association and the Oklahoma Bar Association. He is also a member of the Society for Human Resource Management. His name appears in The Best Lawyers in America and Who’s Who in America.

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Employment Law (5th Ed) by Moran

Employment Law (5th Edition) by John J. Moran 

See the principles of law through real-world applications.  

Moran approaches employment law with a focus on discrimination and employment regulation, presenting the principles of law in a logical succession and illustrating those principles with engaging real-world applications.

The fifth edition reflects the latest changes in employment law regarding the parameters of selection, discrimination, privacy, and termination.

This is a very useful employment law textbook. This book is a valuable read for many students as well as those who wish to learn more about labor law and human resources law.

The way the explained things was easy to understand and kept you interested with lots of examples.

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Business Law (8th Ed) by Cheeseman

Business Law (8th Edition) by Henry R. Cheeseman

Business Law continues to be the most engaging text for readers by featuring a visually appealing format with enticing and current examples while maintaining its focus on business. Readers will learn business law, ethics, and the legal environment in a way that will encourage them to ask questions and go beyond basic memorization.

Visually engaging, enticing and current examples with an overall focus on business.

Legal Environment of Business and E-Commerce; Torts, Crimes, and Intellectual Property; Contracts and E-Commerce; Domestic and International Sales and Lease Contracts; Negotiable Instruments and E-Money; Credit, Secured Transactions, and Bankruptcy; Agency and Employment; Business Organizations and Ethics; Government Regulation; Property; Special Topics;  Global Environment

Rich in content, comprehensive, and very user-friendly. Presentation is excellent. Use of color, diagrams and boxes sets it apart from the majority of law books which are nothing more than 1000 pages of black and white text. The auhor also has a very well-chosen set of cases for the reader to see the legal process in practice. 

This book weighs a ton, but its not some heavy text on legal theory. This book is made for the student. He does all the work for you by breaking everything down. He even puts concept summaries in the margins for you procastinators that cram. The book is not only informative, its entertaining. He explains all concepts with real-life cases. The case studies in the book are the most interesting part. I learned so much from this book. Especially the part on contract law. I feel sorry for people who have no idea how contracts surround our lives. For example when I send out my credit card # on Amazon I'm electronically putting my signature on a click-wrap contract and now subject to the numerous integrated reference clauses I don't see under Amazon. I personally feel much safer with this knowledge and I can thank this book for that. I really wish you guys could sit in on his lectures. You'd spend 2 hours every week laughing. But if you can't, this book is a great substitute.

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