, wages of both skill groups, and unemployment. In contrast to the canonical model with a fixed task allocation, low …-skilled workers may be harmed in terms of either lower wages or higher unemployment depending on the relative task …

, firms' profits and employment. It is shown that trade unions may find it optimal to accept lower wages to prevent firms from …

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 … of training intensity. Second, firmspecific unions, through raising relative wages and reducing turnover, can increase …

. 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 …

Labor unions, chiefly through collective organizing and bargaining, almost universally increase the wages of their …

We propose a simple test that uses information on workers' mobility, wages and firms' profits to identify the sign and … agents' payoffs are increasing in their own types, our test exploits within-firm variation on wages to rank workers by their …

that referred workers initially earn 4.6 percent higher wages and are 2.3 percentage points less likely to leave their …-specific productivity with a probability of 48.4 percent per year. Counterfactual simulations show that average wages are 3.9 percent lower …