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A Human Capital Theory of Who Escapes the Grasp of the Local Monopsonist
Kahn, Matthew E.; Tracy, Joseph S. - National Bureau of Economic Research - 2023
Over the last thirty years, there has been a rise in several empirical measures of local labor market monopsony power … lower monopsony wages by moving to other more competitive local labor markets featuring a higher skill price vector. We …. Monopsony markets are predicted to experience a "brain drain" over time. Using data over four decades we document this …
Persistent link: https://www.econbiz.de/10014247935
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An Anatomy of Monopsony : Search Frictions, Amenities and Bargaining in Concentrated Markets
Berger, David; Herkenhoff, Kyle; Kostøl, Andreas Ravndal; … - National Bureau of Economic Research - 2023
We contribute a theory in which three channels interact to determine the degree of monopsony power and therefore the …
Persistent link: https://www.econbiz.de/10014250167
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Voluntary Minimum Wages
Derenoncourt, Ellora; Weil, David - National Bureau of Economic Research - 2024
Recent wage growth at the bottom of the earnings distribution in the U.S. has reversed a decades-long trend of widening wage inequality. Numerous state and local minimum wage increases have overtaken an effectively non-binding federal minimum, and robust labor demand in the post-pandemic...
Persistent link: https://www.econbiz.de/10014576574
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The Race Between Education, Technology, and the Minimum Wage
Vogel, Jonathan - National Bureau of Economic Research - 2023
What is the impact of the minimum wage on the college wage premium? I show that job-ladder models imply that the effect should be small on impact---raising only the wages of workers bound by the minimum wage---and grow over time as workers slowly move up the job ladder. Guided by my theory, I...
Persistent link: https://www.econbiz.de/10014247949
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The Distributional Impact of the Minimum Wage in the Short and Long Run
Hurst, Erik; Kehoe, Patrick J.; Pastorino, Elena; … - National Bureau of Economic Research - 2022
We develop a framework with rich worker heterogeneity, firm monopsony power, and putty-clay technology to study the …
Persistent link: https://www.econbiz.de/10013334511
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The Race Between Education, Technology, and Institutions
Vogel, Jonathan - National Bureau of Economic Research - 2022
--incorporating monopsony power, minimum wages, and unemployment. I estimate the extended canonical model using national data and, separately …
Persistent link: https://www.econbiz.de/10013334528
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Minimum Wage Employment Effects and Labor Market Concentration
Azar, José - 2019
are below marginal productivity, as with monopsony, employers are able to increase wages without laying off workers, but … monopsony explanation by studying a key low-wage retail sector and using data on labor market concentration that covers the … monopsony model as an explanation for the near-zero minimum wage employment effect documented in prior work. They suggest the …
Persistent link: https://www.econbiz.de/10012480047
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Early Decisions : A Regulatory Framework
Beshears, John - 2006
We describe a regulatory framework that helps consumers who have difficulty sticking to their own long-run plans. Early Decision regulations help long-run preferences prevail by allowing consumers to partially commit to their long-run goals, making it harder for a momentary impulse to reverse...
Persistent link: https://www.econbiz.de/10012466751
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An Empirical Framework For Matching With Imperfect Competition
Chan, Mons; Kroft, Kory; Mattana, Elena; Mourifié, Ismael - National Bureau of Economic Research - 2024
This paper builds, identifies and estimates a model of the labor market that features strategic interactions in wage setting and two-sided heterogeneity in order to shed light on the sources of wage inequality. We provide a tractable characterization of the model equilibrium and demonstrate its...
Persistent link: https://www.econbiz.de/10014544771
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The Unexpected Compression : Competition at Work in the Low Wage Labor Market
Autor, David H.; Dube, Arindrajit; McGrew, Annie - National Bureau of Economic Research - 2023
Labor market tightness following the height of the Covid-19 pandemic led to an unexpected compression in the US wage distribution that reflects, in part, an increase in labor market competition. Rapid relative wage growth at the bottom of the distribution reduced the college wage premium and...
Persistent link: https://www.econbiz.de/10014247930