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Imperfect competition in the labour market

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  • Manning, Alan

Abstract

It is increasingly recognized that labour markets are pervasively imperfectly competitive, that there are rents to the employment relationship for both worker and employer. This chapter considers why it is sensible to think of labour markets as imperfectly competitive, reviews estimates on the size of rents, theories of and evidence on the distribution of rents between worker and employer, and the areas of labour economics where a perspective derived from imperfect competition makes a substantial difference to thought.

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  • Manning, Alan, 2010. "Imperfect competition in the labour market," LSE Research Online Documents on Economics 28729, London School of Economics and Political Science, LSE Library.
  • Handle: RePEc:ehl:lserod:28729
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    More about this item

    Keywords

    Imperfect competition; labour markets; rents; search; matching; monopsony;
    All these keywords.

    JEL classification:

    • J0 - Labor and Demographic Economics - - General
    • J42 - Labor and Demographic Economics - - Particular Labor Markets - - - Monopsony; Segmented Labor Markets
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs

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