Rent-Sharing in the Labor Market
Is the labor market well-approximated by a competitive model or is wage determination instead a kind of non-competitive rent-sharing? This unsettles question lies at the heart of labor economics and macroeconomics. The paper argues that new research -- drawing upon data of a kind not available to previous generations of researchers -- appears to provide persuasive evidence for the existence of rent-sharing in the labor market.
Year of publication: |
1996
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Authors: | Oswald, Andrew |
Institutions: | Department of Economics, University of Warwick |
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