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Abstract:

Journal article
Monopsony in Labor Markets: A Review
Alan Manning
January 2021
Paper No' :


Tags: monopsony; imperfect competition; labor markets; minimum wages

Researchers’ interest in monopsony has increased in recent years. This article reviews the accumulating evidence that employers have considerable monopsony power. It summarizes the application of this idea to explaining the impact of minimum wages and immigration, in anti-trust, and in understanding how to model the determinants of earnings in matched employer–employee data sets and the implications for inequality and the labor share. © The Author(s) 2020.