labour market imperfections and how labour market imperfections matter for employer wage premia. Based on representative … German plant data for the years 1999-2016, we document that labour market imperfections are the norm rather than the … exception. Wage mark-downs, that is wages below the marginal revenue product of labour rooted in employers' monopsony power, are …

. We solve (i) for the Markov perfect equilibria with no commitment, under the assumption that the union chooses wages each … entire (infinite) sequence of wages. We conclude that the speed of adjustment of employment, that is higher in the … employment and wages only in the no-commitment case, i.e., the higher the relevance of adjustment costs the higher the wage and …

In oligopsonistic labour markets, firms have some market power, and a wedge is created between wages and marginal … different institutions can affect this inefficiency. Industry-level minimum wages can remove the training inefficiency and … achieve first-best. Trade unions might also remedy the market failure, in two ways. First, if an industry-wide union has a …

find that a 10% increase in labor market concentration decreases hires by 12.4% and the wages of new hires by nearly 0 …How does employer market power affect workers? We compute the concentration of new hires by occupation and commuting ….9%, as hypothesized by monopsony theory. Based on a simple merger simulation, we find that a merger between the top two …

This paper presents the first longitudinal estimates of the effect of work-related training on labor market outcomes in … market outcomes, we apply a regression-adjusted matched difference-in-differences approach with entropy balancing to account …, and regional labor market context. The gains are highest for middle-aged men with formal vocational education working in …

the labor market. Its impact on employment, wages and wealth depends crucially on the design of immigration policy … consequences of immigration for a host country's labor market. The most important theoretical arguments are presented and evaluated …

prior estimates by including ripple effects beyond the wages earned or taxes paid directly by migrants. The sharp reduction …

moderating effect and also because employment of low-paid workers is more elastic to wages. We test these theoretical predictions …