A Century of Labor-Leisure Distortions by University of Chicago

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Money, Cycles, and Exchange Rates: Essays in Honor of Allan H. Meltzer. Carnegie-Rochester Conference Series on Public Policy, 29, Autumn 1988: 215-52. Prescott, Edward C. ” Federal Reserve Bank of Minneapolis Quarterly Review. 23(1), Winter 1999: 25-31. Rees, Albert. The Economics of Trade Unions. Chicago: University of Chicago Press, 1989. Rockoff, Hugh. Drastic Measures: A History of Wage and Price Controls in the United States. New York: Cambridge University Press, 1984. Romer, Christina. ” Journal of Economic History.

Mandatory minumum compensation” legislation mainly dictates the rate of pay, or a minimum rate of pay, for workers; the relevant acts are underlined in the Tables. VIII. Appendix II: Consumption Regulation and Measured Marginal Rates of Substitution @ available upon request @ IX. Appendix III: The Union Relative Wage Effect and Aggregate Distortions Suppose that, at any date t, employment occurs in two sectors: the “union sector” (in amount Ltu) and the “nonunion sector” (in amount Lt - Ltu). In the nonunion sector, wages wt equal marginal product.

May 1989: 177-83. United States Council of Economic Advisers. Economic Report of the President. S. Government Printing Office, 1996. Century of Distortions - 54 United States, Department of Commerce, Bureau of the Census. Historical Statistics of the United States, Colonial Times to 1970. Bicentennial edition. S. Dept. of Commerce, Bureau of the Census, 1975. United States, Department of Commerce, Bureau of the Economic Analysis. Personal Consumption Expenditures. S. Dept. of Commerce, Bureau of the Economic Analysis, June 1990.

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