This paper brings together the modern literatures on monopsony power and labor unions by empirically examining the …

the other hand, we document a decline in monopsony power, as both the heterogeneity and the aggregate level of markdowns …

degree of monopsony power is captured by the elasticity of firm-level labor supply, with a lower elasticity implying more … wage-setting power by the firm. With more productive firms paying higher wages, monopsony power dampens the impact of firm … inequality, but in an open economy high levels of monopsony power inhibit exporting, which may reduce inequality by compressing …

productivity, and firms with low productivities exit the market. This reduces the monopsony distortion present in autarky, where … other hand gives firms additional scope for exercising their monopsony power by reducing their domestic size, and as a …

concentration fosters monopsony power in the labor market, magnifying profits and further enhancing high-productivity firms' output … share. Firms want to get bigger and hire more workers, in stark contrast with the classic monopsony model, where a firm aims … to reduce the amount of labor it hires. The combination of search complementarities and monopsony power induces a strong …

This paper studies the implications of monopsony power for optimal income taxation and welfare. Firms observe workers …' abilities while the government does not and monopsony power determines what share of the labor market surplus is translated into … profits. Monopsony power increases the tax incidence that falls on firms. This makes labor income taxes less (more) effective …