Human Capital Externalities with Monopsonistic Competition
This paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model of monopsonistic competition. Multiple equilibria arise because of a strategic complementarity in investment decisions.
|Date of creation:||Sep 2008|
|Date of revision:|
|Publication status:||published in: Economics Letters, 2010, 106 (2), 95-97|
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- V. Bhaskar & Ted To, 1996.
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Labor and Demography
9603001, EconWPA, revised 21 May 1996.
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- Steven C. Salop, 1979. "Monopolistic Competition with Outside Goods," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 141-156, Spring.
- Kaas, Leo & Madden, Paul, 2008.
"Holdup in oligopsonistic labour markets - a new role for the minimum wage,"
Elsevier, vol. 15(3), pages 334-349, June.
- Kaas, Leo & Madden, Paul, 2006. "Holdup in Oligopsonistic Labour Markets: A New Role for the Minimum Wage," IZA Discussion Papers 2043, Institute for the Study of Labor (IZA).
- Azariadis, Costas & Drazen, Allan, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, MIT Press, vol. 105(2), pages 501-26, May.
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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