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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:dsp01736664510

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Keywords: monopsony; labor markets;

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References

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  1. 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, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 13(1), pages 53-64, February.
  2. Boris Hirsch & Thorsten Schank & Claus Schnabel, 2010. "Differences in Labor Supply to Monopsonistic Firms and the Gender Pay Gap: An Empirical Analysis Using Linked Employer-Employee Data from Germany," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 28(2), pages 291-330, 04.
  3. Michael R Ransom & Ronald L. Oaxaca, 2010. "New Market Power Models and Sex Differences in Pay," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 28(2), pages 267-289, 04.
  4. Torberg Falch, 2008. "The elasticity of labor supply at the establishment level," Working Papers, Princeton University, Department of Economics, Industrial Relations Section. 1106, Princeton University, Department of Economics, Industrial Relations Section..
  5. Douglas Staiger & Joanne Spetz & Ciaran Phibbs, 1999. "Is There Monopsony in the Labor Market? Evidence from a Natural Experiment," NBER Working Papers 7258, National Bureau of Economic Research, Inc.
  6. Jeremy T. Fox, 2009. "Estimating the Employer Switching Costs and Wage Responses of Forward-Looking Engineers," NBER Working Papers 15322, National Bureau of Economic Research, Inc.
  7. Parsons, Donald O, 1972. "Specific Human Capital: An Application to Quit Rates and Layoff Rates," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 80(6), pages 1120-43, Nov.-Dec..
  8. George Karatzas, 2009. "On the origin and the literal meaning of monopsony: a note," International Review of Economics, Springer, Springer, vol. 56(4), pages 425-430, December.
  9. 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.
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Citations

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Cited by:
  1. Samuel Muehlemann & Paul Ryan & Stefan C. Wolter, 2011. "Monopsony power, pay structure and training," Economics of Education Working Paper Series, University of Zurich, Institute for Strategy and Business Economics (ISU) 0099, University of Zurich, Institute for Strategy and Business Economics (ISU).
  2. 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, Institute of Industrial Relations, UC Berkeley qt4t3342nd, Institute of Industrial Relations, UC Berkeley.
  3. Hensvik, Lena, 2010. "Competition, wages and teacher sorting: four lessons learned from a voucher reform," Working Paper Series, Center for Labor Studies, Uppsala University, Department of Economics 2010:12, Uppsala University, Department of Economics.
  4. Allegretto, Sylvia & Dube, Arindrajit & Reich, Michael & Zipperer, Ben, 2013. "Credible Research Designs for Minimum Wage Studies," Institute for Research on Labor and Employment, Working Paper Series, Institute of Industrial Relations, UC Berkeley qt3hk7s3fw, Institute of Industrial Relations, UC Berkeley.
  5. Thisse, Jacques-François & Toulemonde, Eric, 2010. "The Distribution of Earnings under Monopsonistic/polistic Competition," CEPR Discussion Papers, C.E.P.R. Discussion Papers 7981, C.E.P.R. Discussion Papers.
  6. Alexander Muravyev & Aleksey Oshchepkov, 2013. "Minimum wages and labor market outcomes: evidence from the emerging economy of Russia," HSE Working papers, National Research University Higher School of Economics WP BRP 29/EC/2013, National Research University Higher School of Economics.
  7. Dube, Arindrajit & Lester, T. William & Reich, Michael, 2013. "Minimum Wage Shocks, Employment Flows and Labor Market Frictions," Institute for Research on Labor and Employment, Working Paper Series, Institute of Industrial Relations, UC Berkeley qt27z0006g, Institute of Industrial Relations, UC Berkeley.
  8. 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, Institute of Industrial Relations, UC Berkeley qt76p927ks, Institute of Industrial Relations, UC Berkeley.
  9. Muravyev, Alexander & Oshchepkov, Aleksey, 2013. "Minimum Wages, Unemployment and Informality: Evidence from Panel Data on Russian Regions," IZA Discussion Papers 7878, Institute for the Study of Labor (IZA).

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