Pierre Cahuc

Pierre Cahuc is Professor of Economics at École Polytechnique, Director of the Macroeconomic Laboratory at CREST-ENSAE, Program Director at IZA, Research Fellow at CEPR and member of the Council of Economic Analysis of the Prime Minister.

  • Labor Economics, Second Edition

    Labor Economics, Second Edition

    Pierre Cahuc, Stéphane Carcillo, and André Zylberberg

    The new edition of a widely used, comprehensive graduate-level text and professional reference covering all aspects of labor economics, with substantial new material.

    This landmark graduate-level text combines depth and breadth of coverage with recent, cutting-edge work in all the major areas of modern labor economics. Its command of the literature and its coverage of the latest theoretical, methodological, and empirical developments make it also a valuable resource for practicing labor economists.

    This second edition has been substantially updated and augmented. It incorporates examples drawn from many countries, and it presents empirical methods using contributions that have proved to be milestones in labor economics. The data and codes of these research publications, as well as numerous tables and figures describing the functioning of labor markets, are all available on a dedicated website (www.labor-economics.org), along with slides that can be used as course aids and a discussion forum.

    This edition devotes more space to the analysis of public policy and the levers available to policy makers, with new chapters on such topics as discrimination, globalization, income redistribution, employment protection, and the minimum wage or labor market programs for the unemployed. Theories are explained on the basis of the simplest possible models, which are in turn related to empirical results. Mathematical appendixes provide a toolkit for understanding the models.

    • Hardcover $130.00 £75.00
  • The Natural Survival of Work

    The Natural Survival of Work

    Job Creation and Job Destruction in a Growing Economy

    Pierre Cahuc and André Zylberberg

    How to manage the unemployment that occurs in the process of the continuous job destruction and creation responsible for growth in today's economies: what recent economic research tells us about wages, incentives to work, and education.

    Every working day in the United States, 90,000 jobs disappear—and an equal number are created. This discovery has radically altered the way economists think about how labor markets work. Without this necessary phenomenon of "creative destruction," our economies would experience much lower growth. Unemployment is a natural consequence of a vigorous economy—and is in fact indispensable to it. In The Natural Survival of Work, labor economists Pierre Cahuc and André Zylberberg consider how to manage the unemployment that results from the desirable churning of the economy, drawing on recent economic research and citing examples from France, the United States, the United Kingdom, and elsewhere.

    Unemployment in many continental European countries, particularly among youth, has reached high levels in recent years, and Cahuc and Zylberberg criticize labor market policies that are based on politics rather than economics. They discuss the minimum wage in both the United States and France and show that increasing it, under certain circumstances, can increase employment. They find fault with the idea that work sharing is a cure for unemployment. They consider how to design a system of unemployment insurance that does not destroy the incentive to find work, and examine the effect of government regulation of layoffs. Finally, they analyze the true impact of education and training as remedies for unemployment. Economists today know more about how labor markets work. Policies could be more effective, Cahuc and Zylberberg argue, if they were based upon this knowledge.

    The French edition of The Natural Survival of Work won the 2004 European Economics Book Award.

    • Hardcover $29.95 £22.95
    • Paperback $26.95 £21.00
  • Labor Economics

    Labor Economics

    Pierre Cahuc and André Zylberberg

    A comprehensive graduate-level text and professional reference covering all aspects of labor economics.

    This landmark graduate-level text combines depth and breadth of coverage with recent, cutting-edge work in all the major areas of modern labor economics. Labor Economics is the only textbook available for advanced graduate students in the field, and it will be widely used; because of its command of the literature and the freshness of the material included, it will also prove to be a valuable resource for practicing labor economists.The book moves back and forth between factual data and theoretical reasoning. The space devoted to theory reflects the profound theoretical restructuring in the field that has taken place in the last thirty years; the authors present these developments within a unified pedagogic framework. The teaching methods are based on mathematical models, with the mathematical analyses laid out clearly, and the derivation of most results given in five mathematical appendixes that provide a toolkit for understanding the models. The book is divided into four parts: "Supply and Demand Behaviors" examines the determinants of labor supply and demand; "Wage Formation" discusses wage determinants, including the influences of the wage policies of firms and collective bargaining; "Unemployment and Inequality" considers these problems in a macroeconomic setting; and "Institutions and Economic Policy" treats labor market policies and the impact of institutions on labor market performance.

    • Hardcover $110.00 £53.95

Contributor

  • The Failure of Judges and the Rise of Regulators

    The Failure of Judges and the Rise of Regulators

    Andrei Shleifer

    A noted economist argues that the ubiquity of regulation can be explained by its greater efficiency when compared to litigation.

    Government regulation is ubiquitous today in rich and middle-income countries—present in areas that range from workplace conditions to food processing to school curricula—although standard economic theories predict that it should be rather uncommon. In this book, Andrei Shleifer argues that the ubiquity of regulation can be explained not so much by the failure of markets as by the failure of courts to solve contract and tort disputes cheaply, predictably, and impartially. When courts are expensive, unpredictable, and biased, the public will seek alternatives to dispute resolution. The form this alternative has taken throughout the world is regulation.

    The Failure of Judges and the Rise of Regulators gathers Shleifer's influential writings on regulation and adds to them a substantial introductory essay in which Shleifer critiques the standard theories of economic regulation and proposes “the Enforcement Theory of Regulation,” which sees regulation as the more efficient strategy for social control of business. Subsequent chapters present the theoretical and empirical case against the efficiency of courts, make the historical and theoretical case for the comparative efficiency of regulation, and offer two empirical studies suggesting circumstances in which regulation might emerge as an efficient solution to social problems. Shleifer does not offer an unconditional endorsement of regulation and its expansion but rather argues that it is better than its alternatives, particularly litigation.

    Contributors Nicola Gennaioli, Anthony Niblett, Richard A. Posner, Simeon Djankov, Rafael La Porta, Florencio Lopez-de-Silanes, Edward L. Glaeser, Simon Johnson, Casey B. Mulligan

    • Hardcover $44.00 £34.00
    • Paperback $29.00 £23.00