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Modern Models of Monopsony in Labor Markets: A Brief Survey

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  • Orley C. Ashenfelter

    (Princeton University)

  • Henry Farber

    (Princeton University)

  • Michael R. Ransom

    (Brigham Young University)

Abstract

There has been a renewed interest in monopsony in labor markets in recent years that includes both the traditional static approach to monopsony, ably reviewed by Boal and Ransom (1997) and the new'' approach to monopsony with more attention paid to dynamic issues, developed in detail by Manning (2003). The papers presented in this supplement highlight both approaches and illustrate the range of labor market settings in which the exercise of monopsony power may be important.

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Bibliographic Info

Paper provided by Princeton University, Department of Economics, Industrial Relations Section. in its series Working Papers with number 1223.

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Date of creation: Apr 2010
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Handle: RePEc:pri:indrel:1223

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Keywords: monopsony; labor markets;

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References

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  1. Jeremy T. Fox, 2009. "Estimating the Employer Switching Costs and Wage Responses of Forward-Looking Engineers," Working Papers 1113, Princeton University, Department of Economics, Industrial Relations Section..
  2. Torberg Falch, 2008. "The elasticity of labor supply at the establishment level," Working Papers 1106, Princeton University, Department of Economics, Industrial Relations Section..
  3. Douglas O. Staiger & Joanne Spetz & Ciaran S. Phibbs, 2010. "Is There Monopsony in the Labor Market? Evidence from a Natural Experiment," Journal of Labor Economics, University of Chicago Press, vol. 28(2), pages 211-236, 04.
  4. William M. Boal & Michael R. Ransom, 1997. "Monopsony in the Labor Market," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 86-112, March.
  5. Michael R Ransom & Ronald L. Oaxaca, 2010. "New Market Power Models and Sex Differences in Pay," Journal of Labor Economics, University of Chicago Press, vol. 28(2), pages 267-289, 04.
  6. George Karatzas, 2009. "On the origin and the literal meaning of monopsony: a note," International Review of Economics, Springer, vol. 56(4), pages 425-430, December.
  7. Boris Hirsch & Thorsten Schank & Claus Schnabel, 2008. "Differences in Labor Supply to Monopsonistic Firms and the Gender Pay Gap: An Empirical Analysis Using Linked Employer-Employee Data from Germany," Working Papers 1111, Princeton University, Department of Economics, Industrial Relations Section..
  8. Parsons, Donald O, 1972. "Specific Human Capital: An Application to Quit Rates and Layoff Rates," Journal of Political Economy, University of Chicago Press, vol. 80(6), pages 1120-43, Nov.-Dec..
  9. Pencavel, John H, 1972. "Wages, Specific Training, and Labor Turnover in US Manufacturing Industries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 13(1), pages 53-64, February.
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Citations

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Cited by:
  1. Thisse, Jacques-François & Toulemonde, Eric, 2010. "The Distribution of Earnings under Monopsonistic/polistic Competition," IZA Discussion Papers 5136, Institute for the Study of Labor (IZA).
  2. Dube, Arindrajit & Lester, T. William & Reich, Michael, 2011. "Do Frictions Matter in the Labor Market? Accessions, Separations and Minimum Wage Effects," IZA Discussion Papers 5811, Institute for the Study of Labor (IZA).
  3. Dube, Arindrajit & Lester, T. William & Reich, Michael, 2012. "Minimum Wage Shocks, Employment Flows and Labor Market Frictions," Institute for Research on Labor and Employment, Working Paper Series qt76p927ks, Institute of Industrial Relations, UC Berkeley.
  4. Hensvik, Lena, 2010. "Competition, wages and teacher sorting: four lessons learned from a voucher reform," Working Paper Series, Center for Labor Studies 2010:12, Uppsala University, Department of Economics.
  5. Dube, Arindrajit & Lester, T. William & Reich, Michael, 2011. "Do Frictions Matter in the Labor Market? Accessions, Separations, and Minimum Wage Effects," Institute for Research on Labor and Employment, Working Paper Series qt4t3342nd, Institute of Industrial Relations, UC Berkeley.

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