Regional Dynamics : Studies in Adjustment Theory.

Cover -- Half Title Page -- Title Page -- Copyright Page -- Original Title Page -- Original Copyright Page -- Dedication Page -- Preface -- Acknowledgement -- Contents -- List of figures -- List of tables -- Part I A theory of regional adjustment -- 1 The adjustment problem -- Introduction -- A binary theory of regional change -- A critique of catastrophe theory -- The necessity for adjustment theory -- The adjustment problem -- 2 Contemporary regional economic structure -- Introduction -- Adjustment theory in general -- Local economic structure -- The management of labor supply -- Location and adjustment strategies -- A typology of regional adjustment -- Conclusions -- 3 An adjustment model of regional production -- Introduction -- Traditional regional production models -- A production model of the firm -- The geography of output -- Data and empirical methodology -- Regional output and the distribution of income -- Conclusions -- Part II Local employment profiles and labor demand -- 4 Fluctuations and rigidities in local labor markets -- Introduction -- Labor as a commodity -- Contracts and labor relations -- Adjustment scenarios by city and industry -- Conclusions -- 5 Regional demand for labor -- Introduction -- Wages as prices -- Prices and profits -- Output and labor adjustment -- Wages and profits -- Conclusions -- 6 The risks of local adjustment -- Introduction -- Geographical profiles of employment dynamics -- Risk and regional change -- A methodology for aggregate risk analysis -- Job risk in two urban economies -- Conclusions -- Part III Regionalwages and prices -- 7 Does inflationvary between cities? -- Introduction -- Costs of inflation -- Properties of price adjustment -- Empirical methodology -- Urban inflation patterns -- Predicting local inflation -- Conclusions -- 8 Components of local inflation -- Introduction.

The shocks hypothesis -- National versus local inflation patterns -- Components of local inflation -- Conclusions -- 9 Regional wage indexation -- Introduction -- Wage bargaining and indexation -- Regional wage-price dynamics -- Regional wage and price inflation -- Causality between regional wages and prices -- Conclusions -- Part IV Interregional labor migration -- 10 Dynamics of inter-state labor migration -- Introduction -- Adjustment properties of labor migration -- Dynamic statistical models -- Time-series structure of gross migration -- Relationships between gross flows -- Conclusions -- 11 Migration and capital -- Introduction -- The capital-logic school -- The competitive market school -- Modeling regional growth and decline -- Cross-correlation analysis of migration and capital -- Capital, in-migration, and causality -- Capital, outmigration, and causality -- Conclusions -- 12 Labor migration and uncertainty -- Introduction -- Transaction costs and policy -- Decentralized labor markets and transaction costs -- Substantive bases of labor exchange -- Social relations of uncertainty -- Conclusions -- Part V Regionalcapital dynamics -- 13 Regional capital theory -- Introduction -- The local capital market -- The holy grail of regional convergence -- Role of fixed capital -- Spatial perspectives on capital controversies -- Regional capital theory -- Conclusions -- 14 Dynamics of regionalinvestment -- The investment process in place and time -- Spatial and temporal dimensions -- Volatility of regional capital accumulation -- Conclusions -- 15 Capital, labor, and regionaldynamics -- Introduction -- Profits and regional growth -- A simple model of regional investment -- Capital, income distribution, and technological change -- Bibliography -- Index.

Originally published in 1986. This book is concerned with how regional economies adapt and respond to changing circumstances, and especially with the spatial system and processes of restructuring. The most important facets of regional economic structure are covered - employment, wages, prices, migration, and capital investment.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.