Labour economics

Labor economics (including labor economics, Labour economics engl. ) Is a special discipline of economics. It deals with economic issues with all aspects of individual and collective labor. In detail this means: with labor market issues and the wage, trade unions and collective agreements of the labor dispute and the co-determination and participation of workers. Their empirical studies are mostly founded econometrically and work with models of subject- specific theories, such as

• Theory of the labor market,
• Theory of wage formation and wage drift.
• Negotiation theories ( Collective Bargaining )
• Economic theory of industrial relations,
• Economic Theory of Trade Unions,
• Economic theory of industrial conflict,
• Economic theory of co-determination and participation.

In Anglo-Saxon countries, labor economics has a long tradition. More recently, she owed the British Henry Phelps Brown and the American John T. Dunlop their contours. Current representatives are John T. Addison ( University of South Carolina ), Richard B. Freeman and James Medoff (both Harvard University), David Metcalf ( London School of Economics).

In Germany the socialists had placed (including Lujo Brentano ) and the Association for Social Policy in the late 19th and early 20 century foundations for an economic analysis of the scientific work. This tradition has been broken. Today represented in Germany economists like Knut Gerlach and Wolfgang Meyer ( both University of Hannover) and Claus Schnabel ( University of Erlangen- Nuremberg) this tray. A business version of labor economics is that of Dieter Sadowski (University of Trier) represented personnel economics.

The Bonn-based economist and labor economist Klaus F. Zimmermann, head of the research institute, founded by him for the Study of Labor ( IZA), which tracks worldwide developments in the labor markets.