Labor Market Monopsony

@article{Ashenfelter2010LaborMM,
  title={Labor Market Monopsony},
  author={O. Ashenfelter and H. Farber and M. Ransom},
  journal={Journal of Labor Economics},
  year={2010},
  volume={28},
  pages={203 - 210}
}
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 articles 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. The first use of… Expand
Dynamic Monopsonistic Competition and Labor Market Equilibrium
With the recent special issue of the Journal of Labor Economics on the topic, the concept of monopsony in the labor market seems to have achieved a new respectability as a formulation of wage settingExpand
Monopsony Theory Revisited
Standard monopsony theory, old and new, lacks a realistic criterion to distinguish between monopsony and competitive prices. Consequently, prominent Austrian critics have by and large dismissed it.Expand
Monopsony and Discrimination in Labor Market in the Solow-Stiglitz Two-Group Neoclassical Growth Model
The purpose of this study is to deal with economic growth with labor market monopsony. The economy is composed of one sector (like in the Solow model) and two groups of households (like in theExpand
Exploitation of Labor? Classical Monopsony Power and Labor&Apos;S Share
How important is the exercise of classical monopsony power against labor for the level of wages and labor's share? We examine this in the context of China and India – two large, rapidly-growingExpand
Monopsony Power in Occupational Labor Markets
We collect data from the 1979 National Longitudinal Survey of Youth and create comparable measures of monopsonistic power for up to 46 occupational labor markets in the USA, starting in 1979 andExpand
Exploitation in Monopsony
A key feature of monopsony is that a single firm pays its workers a wage ( w) less than the marginal revenue product (MRP ). Ever since its creation by Joan Robinson (1933), this feature has beenExpand
Exploitation of labor? Classical monopsony power and labor's share
Abstract How important is the exercise of classical monopsony power against labor for the level of wages and labor's share? We examine this in the context of China and India – two large,Expand
Do Employers Have More Monopsony Power in Slack Labor Markets?
This article confronts monopsony theory’s predictions regarding workers’ wages with observed wage patterns over the business cycle. Using German administrative data for the years 1985 to 2010 and anExpand
Monopsony, Cartels, and Market Manipulation: Evidence from the U.S. Meatpacking Industry, 1903–1918
How does a monopsony influence market outcomes if future supplies are responsive to current prices? When neither production nor shipments coincide with spot-market sales, monopsonists can manipulateExpand
Does monopsony exist in academic labor market?
This study aims to examine empirically the power of monopsony in the academic labor market, particularly in public universities. Upward sloping supply curve is indicative of monopsony and its powerExpand
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References

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With the recent special issue of the Journal of Labor Economics on the topic, the concept of monopsony in the labor market seems to have achieved a new respectability as a formulation of wage settingExpand
Monopsony in the Labor Market
This paper surveys recent theoretical and empirical research on monopsony in labor markets, broadly defined as upward-sloping labor supply to an employer. We compare older monopsony models based onExpand
Timing “Disturbances” in Labor Market Contracting: Roth's Findings and the Effects of Labor Market Monopsony
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This paper addresses Alvin Roth’s findings of market contracting at times earlier than optimal for market participants, which Roth describes as market “unraveling,” a market failure he proposes toExpand
Is There Monopsony in the Labor Market? Evidence from a Natural Experiment
Recent theoretical and empirical advances have renewed interest in monopsonistic models of the labor market. However, there is little direct empirical support for these models. We use an exogenousExpand
Temporary Contract and Monopsony Power in the UK Labour Market
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Estimating the Firm’s Labor Supply Curve in a “New Monopsony” Framework: Schoolteachers in Missouri
In the context of certain dynamic models, it is possible to infer the elasticity of labor supply to the firm from the elasticity of the quit rate with respect to the wage. Using this property, weExpand
Differences in Labor Supply to Monopsonistic Firms and the Gender Pay Gap: An Empirical Analysis Using Linked Employer‐Employee Data from Germany
This article investigates women’s and men’s labor supply to the firm within a semistructural approach based on a dynamic model of new monopsony. Using methods of survival analysis and a large linkedExpand
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This article studies the effect of recruitment restrictions on mobility and wages in the postbellum U.S. South. I estimate the effects of criminal fines charged for “enticement” (recruiting workersExpand
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It is increasingly recognized that labor markets are pervasively imperfectly competitive, that there are rents to the employment relationship for both worker and employer. This chapter considers whyExpand
The Elasticity of Labor Supply at the Establishment Level
Monopsonistic wage‐setting power requires that the supply of labor directed toward individual establishments is upward sloping. This study utilizes institutional features to identify the supplyExpand
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