Regional dynamics : studies in adjustment theory / Gordon L. Clark, Meric S. Gertler and John E.M. Whiteman.

Format:

Book

Author/Creator:

Clark, Gordon L, author.

Gertler, Meric S., author.

Whiteman, John E. M, author.

Series:

Routledge library editions : urban and regional economics ; volume 2

Language:

English

Subjects (All):

Adjustment (Psychology).

Physical Description:

1 online resource (367 pages) : illustrations.

Edition:

1st ed.

Place of Publication:

London : Routledge, 2018.

Summary:

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. Throughout the book there is a methodological commitment to adjustment theory - a unique analytical framework for the study of the dynamics of advanced capitalist economies. Instead of homogenising space in the manner of neoclassical economic theory, the authors focus on adjustment processes that produce and reproduce spatial differentiation. The most important facets of regional economic structure are covered - employment, wages, prices, migration, and capital investment - in terms of their own dimensions and their connections with the larger theoretical framework. Each part of the book develops one particular dimension of regional adjustment, and each has an overview and summary. Within each part, there is a sequence of related studies focussing on the empirical aspects, theoretical logic, and distributive consequences of regional adjustment.

Contents:

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

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

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

Part II Local employment profiles and labor demand

4 Fluctuations and rigidities in local labor markets

Labor as a commodity

Contracts and labor relations

Adjustment scenarios by city and industry

5 Regional demand for labor

Wages as prices

Prices and profits

Output and labor adjustment

Wages and profits

6 The risks of local adjustment

Geographical profiles of employment dynamics

Risk and regional change

A methodology for aggregate risk analysis

Job risk in two urban economies

Part III Regionalwages and prices

7 Does inflationvary between cities?

Costs of inflation

Properties of price adjustment

Empirical methodology

Urban inflation patterns

Predicting local inflation

8 Components of local inflation

Introduction.

The shocks hypothesis

National versus local inflation patterns

Components of local inflation

9 Regional wage indexation

Wage bargaining and indexation

Regional wage-price dynamics

Regional wage and price inflation

Causality between regional wages and prices

Part IV Interregional labor migration

10 Dynamics of inter-state labor migration

Adjustment properties of labor migration

Dynamic statistical models

Time-series structure of gross migration

Relationships between gross flows

11 Migration and capital

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

12 Labor migration and uncertainty

Transaction costs and policy

Decentralized labor markets and transaction costs

Substantive bases of labor exchange

Social relations of uncertainty

Part V Regionalcapital dynamics

13 Regional capital theory

The local capital market

The holy grail of regional convergence

Role of fixed capital

Spatial perspectives on capital controversies

Regional capital theory

14 Dynamics of regionalinvestment

The investment process in place and time

Spatial and temporal dimensions

Volatility of regional capital accumulation

15 Capital, labor, and regionaldynamics

Profits and regional growth

A simple model of regional investment

Capital, income distribution, and technological change

Bibliography

Index.

Notes:

"Sadly John Whiteman died in 2016 before this reissue was published."

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (ebrary, viewed February 13, 2018).

ISBN:

1-351-59465-6

1-351-59464-8

1-315-10329-X

9781315103297

OCLC:

1097096097