Is There Monopsony Power in U.S. Labor Markets?
Is There Monopsony Power in U.S. Labor Markets? | Cato Institute
The Biden administration contends that monopsony power is "ubiquitous" in US labor markets and requires corrective policy responses.
Monopsony Power in Labor Markets | NBER
The third major reason that labor market monopsony exists is that different workers may value the same jobs, paying the same wage, differently.
Monopsony in the US Labor Market - American Economic Association
We find most manufacturing plants operate in a monopsonistic environment, with an average markdown of 1.53, implying a worker earning only 65 cents on the ...
Monopsony in the U.S. Labor Market - Upjohn Research
To investigate long-term trends in employer market power, we propose a novel measure for the aggregate markdown that is consistent with ...
A primer on monopsony power: Its causes, consequences, and ...
Monopsony suggests that these outcomes are the result of broad and common market failures, holding back both wages and employment and resulting ...
Monopsony Power in the Labor Market: From Theory to Policy
Labor markets are not perfectly competitive: Monopsony power enables employers to pay workers less than the marginal revenue product of labor.
Is There Monopsony Power in U.S. Labor Markets? - Cato Institute
What are the implications of monopsony market power for wages and employment? In a competitive labor market, employers and workers represent a small fraction of ...
If you don't like your job, can you always quit?: Pervasive ...
Direct estimates of monopsony power that are obtained in thick labor markets—where there are both many workers and many employers—offer the ...
Understanding the economics of monopsony: How labor markets ...
But monopsony power, Bahn noted, is present not just when there are only a few employers in a particular labor market. Barriers that limit ...
Monopsony: Definition, Causes, Objections, and Example
In a monopsony, a large buyer controls the market. Because of their unique position, monopsonies have a wealth of power. For example, being the primary or only ...
Monopsony in American Labor Markets – EH.net
An employer who enjoys monopsony power holds down the wage by limiting the number of workers it hires.
Monopsony in the Labor Market: New Empirical Results and New ...
The idea that firms have some market power in wage setting has been slow to gain acceptance in economics. Indeed, until relatively recently, the textbooks ...
It's not just monopoly and monopsony: How market power has ...
Concentration in product markets (a limited number of sellers) is generally labeled monopoly power while concentration in labor markets (a ...
"Monopsony in the U.S. Labor Market" by Chen Yeh, Claudia ...
This paper quantifies the extent to which the U.S. manufacturing labor market is characterized by employer market power and how such market ...
Monopsony trends - American Economic Association
How much employer market power does the US manufacturing sector have? ... Recently, the Biden administration's Treasury Department highlighted ...
Monopsony in Labor Markets: A Review - Alan Manning, 2021
In some labor markets the relevance of monopsony power is well-established. In US professional sports, a clear link is seen between the removal ...
THE STATE OF LABOR MARKET COMPETITION - Treasury
“Monopsony in the U.S. Labor Market.” American Economic Review, ... the scale of monopsony power in local labor markets.93. This paper's ...
Is There Monopsony in the Labor Market? Evidence from a Natural ...
Originally, monopsony power was thought to exist primarily in fairly specialized labor markets in which a single firm bought labor in an isolated labor market ( ...
Monopsonistic labor markets and international trade - ScienceDirect
Employers have monopsony power in the labor market, which means that individual firms face an upward-sloping—rather than a perfectly elastic—labor supply and ...
The Minimum Wage in Competitive Markets and Markets
Figure 2: Employment and Wages in a Market With Monopsony Power. Like an ... Arindrajit Dube and others, “Monopsony in Online Labor Markets,” American Economic.