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Underemployment pp 13–34Cite as

Economic Approaches to Studying Underemployment

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Abstract

Labor economists have long been interested in why it is that markets for labor do not behave like markets for many other goods and services. In particular, many labor markets are characterized by the imbalance between demand and supply, meaning that the available labor resources are not fully utilized, and these imbalances are often persistent. For economists, such outcomes are inefficient; labor services cannot be stored and hence if at any time they are not being used, the output that could have resulted is lost forever. The underutilization of labor also imposes significant costs on affected individuals and their families, and not just in terms of foregone income.

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Authors and Affiliations

  1. Melbourne Institute of Applied Economic and Social Research, University of Melbourne, Melbourne, VIC, 3000, Australia

    Roger Wilkins & Mark Wooden

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  1. Roger Wilkins
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Correspondence to Roger Wilkins .

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  1. Psychology Dept., State University of New York, New Paltz, Hawk Dr. 600, New Paltz, 12561, New York, USA

    Douglas C. Maynard

  2. Terry College of Business, University of Georgia, Brooks Hall, Athens, 30602, Georgia, USA

    Daniel C. Feldman

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Wilkins, R., Wooden, M. (2011). Economic Approaches to Studying Underemployment. In: Maynard, D., Feldman, D. (eds) Underemployment. Springer, New York, NY. https://doi.org/10.1007/978-1-4419-9413-4_2

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