This book provides an introduction and overview to seven applied financial studies on the theme of labour. The studies cover a wide range of topics, from the individual effects of becoming disabled on key aspects of labour market outcomes in Germany, to testing whether there is evidence of compression of morbidity using Health and Retirement Study (HRS) data and analysing the effects of this on the labour supply of older people. The studies employ a variety of applied techniques across a range of countries. This book was originally published as a special issue of Applied Economics.

Modern labor economics has continued to grow and develop since the first volumes of this Handbook were published. The subject matter of labor economics continues to have at its core an attempt to systematically find empirical analyses that are consistent with a systematic and parsimonious theoretical understanding of the diverse phenomenon that make up the labor market. As before, many of these analyses are provocative and controversial because they are so directly relevant to both public policy and private decision making. In many ways the modern development in the field of labor economics continues to set the standards for the best work in applied economics. This volume of the Handbook has a notable representation of authors - and topics of importance - from throughout the world.

John E. Roemer, one of the founders of analytical Marxism, draws on contemporary mathematical economics to put forward a refined extension of the Marxian theory of exploitation, labour value and class.

In the last twenty years there has been an explosion of economic research on labor force dynamics; the movement of individuals between labor force states. This book focuses on the methods by which behavioral theories of labor force dynamics have been empirically implemented. Most attention is paid to the partial equilibrium two-state transitional model of job search behavior. That model is the foundation for much of our thinking about the nature of unemployment at both the individual and aggregate levels. Although the basic formulation has remained the same, approaches to the empirical implementation of such models has changed dramatically.

This collection of papers marks the development of empirical application of the search approach to labor economics--an approach which arose as a theoretical development of the 1960s and led to numerous insights in the 1970s. The search approach naturally incorporates uncertainty in the economic model, making up some of the early work in what is now called "the economics of information." Included are econometric issues such as estimation and specification of search models for wages and unemployment duration, continuous time models of turnover, and identification of structural parameters. Applications to policy questions including Unemployment Insurance and wage subsidy programs are given, and data collection issues are discussed within the search framework.

John E. Roemer, one of the founders of analytical Marxism, draws on contemporary mathematical economics to put forward a refined extension of the Marxian theory of exploitation, labour value and class.