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Monopsony and labour demand

Author

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  • Alan Manning

Abstract

‘Monopsony and Labour Demand’ might strike many as a contradiction in terms as monopsony is often thought to mean an outcome on the labour supply and not the labour demand curve. This paper argues that, despite initial appearances to the contrary, there is no inevitable contradiction between the view that employers have some monopsony power over their workers and the enormous literature on the economics of labour demand. Indeed, popular models of ‘labour demand’ with convex costs of adjustment are really better thought of as models of monopsonistic firms. But the ‘labour demand’ literature could do with some re-focusing as the study of the wage and employment decisions of employers.

Suggested Citation

  • Alan Manning, 2005. "Monopsony and labour demand," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 48(1-2), pages 95-112.
    • Handle: RePEc:bxr:bxrceb:y:2005:v:48:i:1-2:p:95-112
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    File URL: https://dipot.ulb.ac.be/dspace/bitstream/2013/11989/1/ber-0323.pdf
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    Cited by:

    1. Dagmar Brožová, 2018. "The Minimum Wage in the Neoclassical and the Behavioural Labour Market Theory," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2018(4), pages 30-41.

    More about this item

    Keywords

    Monopsony; labour Demand;

    JEL classification:

    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
    • J42 - Labor and Demographic Economics - - Particular Labor Markets - - - Monopsony; Segmented Labor Markets

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