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|
|Date of revision:|
|Publication status:||published as 'Labor Market Monopsony' in: Journal of Labor Economics, 2010, 28 (4), 203 - 210|
|Contact details of provider:|| Postal: IZA, P.O. Box 7240, D-53072 Bonn, Germany|
Phone: +49 228 3894 223
Fax: +49 228 3894 180
Web page: http://www.iza.org
|Order Information:|| Postal: IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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..
- 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.
- 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.
- 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, vol. 28(2), pages 291-330, 04.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
When requesting a correction, please mention this item's handle: RePEc:iza:izadps:dp4915. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mark Fallak)
If references are entirely missing, you can add them using this form.