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imply that frictions help explain minimum wage effects. -- minimum wage ; labor market flows ; monopsony ; Bayesian …
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We propose a new fiscal transmission channel based on countercyclical monopsony power in the labor market. We develop a … Two-Agent New Keynesian model incorporating a time-varying degree of monopsony power, with workers valuing various job …
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This paper examines the effects of major funding projects for graduate education in Korea, specifically the BK21 and the WCU programs, on the research productivity of professors and young researchers. We apply the standard DID method, which compares the increase in research outputs as measured...
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, and a pure monopsony (one employer) reduces wages by 13 percent. A simulation shows that wages under pure monopsony could … be 47 percent lower, suggesting that employers do not use the extent of their monopsony power. Enforcing wage regulations …
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One major criticism of universal basic income is that unconditional cash transfers discourage recipients from working. We estimate the causal effects of a universal cash transfer on short-run labor market activity by exploiting the timing and variation of a long-running unconditional and...
Persistent link: https://www.econbiz.de/10012849804