Modern Labor Economics: Theory and Public Policy is a leading text in labor economics. This fourteenth edition presents updated data throughout and a wealth of new examples, such as the impact of COVID-19 lockdowns, gig work, nudges, monopsony power, and the effect of machine learning on inequality.

Ronald G. Ehrenberg is the Irving M. Ives professor of industrial and labor relations and economics at Cornell University. He has been honored for his teaching by receiving Cornell's highest university-wide award: the Stephen H. Weiss Presidential Fellowship "for effective, inspiring, and distinguished teaching of undergraduate students and for outstanding contributions to undergraduate education."

Robert S. Smith is Professor of Economics at Cornell University. He has been honored for his teaching by receiving Cornell's highest university-wide award: the Stephen H. Weiss Presidential Fellowship "for effective, inspiring, and distinguished teaching of undergraduate students and for outstanding contributions to undergraduate education."

Kevin F. Hallock is President and Professor of Economics at the University of Richmond. He previously served as Dean of the Cornell SC Johnson College of Business, Dean of School of Industrial and Labor relations, the Joseph R. Rich '80 professor of economics and human resource studies, and Director of the Institute for Compensation Studies at Cornell University.

1. Introduction; 2. Overview of the Labor Market; 3. The Demand for Labor; 4. Labor Demand Elasticities; 5. Frictions in the Labor Market; 6. Supply of Labor to the Economy: The Decision to Work; 7. Labor Supply: Household Production, the Family, and the Life Cycle; 8. Compensating Wage Differentials and Labor Markets; 9. Investments in Human Capital: Education and Training; 10. Worker Mobility: Migration, Immigration, and Turnover; 11. Pay and Productivity: Wage Determination Within the Firm; 12. Gender, Race, and Ethnicity in the Labor Market; 13. Unions and the Labor Market; 14. Unemployment; 15. Inequality in Earnings; 16. The Labor Market Effects of International Trade and Production Sharing