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Full-Text Articles in Labor Economics
Spatial Equilibrium In The Labor Market, Philip E. Graves
Spatial Equilibrium In The Labor Market, Philip E. Graves
PHILIP E GRAVES
The paper discusses two approaches to spatial equilibrium in the labor market. The more traditional approach of labor economics assumes wage differentials represent arbitrageable differences in utility, with implications 1) that migration should be toward higher wage areas and 2) that migration flows will lead to convergence in wages over space. The more recent approach of urban/regional economics follows Roback in examining the implications of assumed equilibrium in utility over space. In this view wage differentials are compensatory (along with rent differentials) for amenity variation over space. The implications for wage convergence over space are complicated, but in general there …
Spatial Equilibrium In Labor Markets, Philip E. Graves
Spatial Equilibrium In Labor Markets, Philip E. Graves
PHILIP E GRAVES
Over long periods of human history, labor market equilibrium involved movements from low-wage areas to high-wage areas, a form of arbitrage under the implicit view that wage differentials corresponded to utility differentials. This “labor economics” view is likely to be viable as long as movement and information costs are high, and under this view the movements would be expected to cause wage convergence over space. In recent decades, perhaps beginning as early as the 1960’s, both the out of pocket and psychological costs of movement have plummeted with advances in transportation and communication technology and innovation. In addition, these same …
New Entry And The Rate Of Return To Education: The Case Of Registered Nurses, Surrey Walton, Philip E. Graves, Robert L. Sexton
New Entry And The Rate Of Return To Education: The Case Of Registered Nurses, Surrey Walton, Philip E. Graves, Robert L. Sexton
PHILIP E GRAVES
In the 1970's, the percentage of high school graduates completing RN training increased with little change in the rate of return to training. During the 1980's this percentage declined, despite large increases in the rate of return. The national data employed here examine long-run trends (with emphasis on the 1970's and 1980's) in financial incentives and entry into the nursing profession and suggest that broader professional career opportunities in the 1980's exerted a large impact vis-a-vis the 1970's, among other factors. Rates of return remain high in the 1990's with modest signs of the market stabilizing. Successful policies to ensure …
A Note On Interfirm Implications Of Wages And Status, Philip E. Graves, Dwight Lee, Robert L. Sexton
A Note On Interfirm Implications Of Wages And Status, Philip E. Graves, Dwight Lee, Robert L. Sexton
PHILIP E GRAVES
This paper does not have an abstract, but examines inter-firm implications of some prior explorations into the nature of wages and status by Robert Frank.