Chapter 3. Perfectly Competitive Labor Markets

  1. Joyce P. Jacobsen and
  2. Gilbert L. Skillman

Published Online: 14 JAN 2008

DOI: 10.1002/9780470755587.ch4

Labor Markets and Employment Relationships: A Comprehensive Approach

Labor Markets and Employment Relationships: A Comprehensive Approach

How to Cite

Jacobsen, J. P. and Skillman, G. L. (eds) (2004) Perfectly Competitive Labor Markets, in Labor Markets and Employment Relationships: A Comprehensive Approach, Blackwell Publishing Ltd, Malden, MA, USA. doi: 10.1002/9780470755587.ch4

Publication History

  1. Published Online: 14 JAN 2008
  2. Published Print: 1 JAN 2004

ISBN Information

Print ISBN: 9780631208365

Online ISBN: 9780470755587

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Keywords:

  • labor markets;
  • competitive model;
  • comparative static analysis;
  • government policies;
  • market wage differentials

Summary

This chapter contains section titled:

  • BASIC DEFINITIONS AND ASSUMPTIONS OF THE COMPETITIVE MODEL

  • EQUILIBRIUM IN A SINGLE LABOR MARKET

  • Comparative static analysis of labor market outcomes

  • Welfare analysis of labor market outcomes

  • Effects of government policies

  • EQUILIBRIUM ACROSS LABOR MARKETS Equilibrium wage differentials

  • Government policies and market wage differentials

  • DO LABOR MARKETS OBEY THE LAWS OF SUPPLY AND DEMAND?

  • CONCLUSION