Modern Models of Monopsony in Labor Markets: A Brief Survey
This brief survey contains a review of several new empirical papers that attempt to measure the extent of monopsony in labor markets. As noted originally by Joan Robinson, monopsonistic exploitation represents the gap between the value of a worker's marginal product and the worker's wage, and it represents both a distortion in the allocation of resources and an income transfer away from workers. The evidence surveyed from a fairly broad range of labor markets suggests that monopsony may be far more pervasive than is sometimes suggested.
|Date of creation:||Apr 2010|
|Publication status:||published as 'Labor Market Monopsony' in: Journal of Labor Economics, 2010, 28 (4), 203 - 210|
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- 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.
- 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.
- Torberg Falch, 2010. "The Elasticity of Labor Supply at the Establishment Level," Journal of Labor Economics, University of Chicago Press, vol. 28(2), pages 237-266, 04.
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- Jeremy T. Fox, 2010.
"Estimating the Employer Switching Costs and Wage Responses of Forward-Looking Engineers,"
Journal of Labor Economics,
University of Chicago Press, vol. 28(2), pages 357-412, 04.
- 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.
- George Karatzas, 2009. "On the origin and the literal meaning of monopsony: a note," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 56(4), pages 425-430, December.
- 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 1120-1143, Nov.-Dec..
- 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.
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