Discretionary monetary and fiscal policy decisions have meant that the Australian economy, like most others, has been prevented from generating enough jobs in the last 25 years to match the growth of the labour force. The same policy decisions have also not allowed the economy to generate enough...

Subsistence theory predicts the distress sale of labor at very low wages, such that the income effect dominates not only at high wages (as is relatively established) but also below a ‘subsistence wage’. This theory has been developed and tested in the context of mainly agricultural...

Low-wage labor markets are traditionally viewed as competitive, and the possibility of strategic behavior by employers is dismissed. However, such behavior is not impossible. This paper investigates the possibility of tacit collusion by low-wage employers while setting wages. A game-theoretic...

Neoclassical analysis of the labor market and its institutions. A systematic development of the theory of labor supply, labor demand, and human capital. Topics discussed also include wage and employment determination, turnover, search, immigration, unemployment, equalizing differences, and...

In this thesis, we theoretically and experimentally analyze three aspects of labor markets. We first ask whether the introduction of a minimum wage not only increases the wages of workers who previously earned less than this minimum wage, but also of those who earned considerably more already....

Poverty is a significant world wide issue. Although literature on the impact of aminimum wage in the agricultural sector is rather limited, previous empirical researchshows that employment was reduced with the implementation of a minimum wage.The following questions are studied:- Does the...

This paper compares the traditional neoclassical economic perspective with the recentempirical findings regarding minimum wage effect on employment. The comparison is done by reviewing and analyzing relevant literature and data that have recorded, over time, the changing attitudes toward the...

In the debate on the economic effects of labor market regulation much work has focused on minimum wages. A legal minimum wage remains one of the most controversial policy issues. The controversy arises for two main reasons: first, there is no consensus over the economic impacts of the minimum...

transmitted to the Legislature February 15, 1915.

This dissertation is an empirical investigation into the distributive effects of overand under-education, defined as market outcomes such that some workers possess skills over or below those required at their jobs respectively. This type of market failure can arise in assignment and search...