Chapter 4 Labor Market Equilibrium

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1、CHAPTER4LaborMarketEquilibriumMcGraw-Hill/IrwinCopyright©2013byTheMcGraw-HillCompanies,Inc.Allrightsreserved.•Analyzingthepropertiesofequilibriuminaperfectlycompetitivelabormarket.Theequilibriumallocationofworkerstofirmsisefficient。ThisresultisanexampleofAdam

2、Smith’sinvisiblehandtheorem(看不见的手定理),whereinlabormarketparticipantsinsearchoftheirownselfishgoalsattainanoutcomethatnooneinthemarketconsciouslysoughttoachieve.•Analyzingthepropertiesoflabormarketequilibriumunderalternativemarketstructures,suchasmonopsonies(买方垄断

3、)andmonopolies(垄断).•Policyapplications:taxes,subsidies,mandatedbenefits,andimmigration.2-24-1EquilibriuminaSingleCompetitiveLaborMarket•Equilibriumoccurswhensupplyequalsdemand,generatingthecompetitivewagew*andemploymentE*.(seeFigure4-1)Thewagew*isthemarket-cle

4、aring(市场出清)wage.Thereisnounemploymentinacompetitivelabormarket.Asthelabormarketreactstoaparticularshock,wagesandemploymentwilltendtomovetowardtheirnewequilibriumlevel.2-34-1EquilibriuminaSingleCompetitiveLaborMarket2-4Efficiency•Producersurplus(生产者剩余):theprof

5、itsaccruingtofirms.•Workersurplus(工人剩余):thegainsaccruingtoworkers.Thedifferencebetweenwhattheworkerreceives(thecompetitivewage)andthevalueoftheworker’stimeoutsidethelabormarket(theheightofthesupplycurve).•Thetotalgainsfromtrade(交易获益)accruingtothenationaleconom

6、y:producersurplus+workersurplus.Thecompetitivemarketmaximizesthetotalgainsfromtradeaccruingtotheeconomy.Anefficientallocation(有效配置):Theallocationofpersonstofirmsthatmaximizesthetotalgainsfromtradeinthelabormarket.Acompetitiveequilibriumgeneratesanefficiental

7、locationoflaborresources.2-54-2CompetitiveEquilibriumacrossLaborMarkets•Theeconomytypicallyconsistsofmanylabormarkets,evenforworkerswhohavesimilarskills.(seeFigure4-2)Theselabormarketsmightbedifferentiatedbyregionorbyindustry.Iftherewerefreeentryandexitofwork

8、ersinandoutoflabormarkets,thenationaleconomywouldeventuallybecharacterizedbyasinglewage.Wagesacrossthetwolabormarketsalsowouldbeequalizediffirms(insteadofworkers)couldfreel